The European Union Commission are discussing the options of launching a monetary fund in likeness to the International Monetary Fund to regulate the economic governance of the EU countries. The EU also said that it was considering a new rescue proposal to prevent the European countries to be affected by the financial crisis, like the one in Greece.

The top executives of EU said that the idea of framing a monetary fund for EU countries were put forth by President of Germany and they are in open discussions of the same right now. They are analyzing both favorable and against setting up of the monetary fu