'EU finance minister should be created,' says European Central Bank president

By The Newsroom

Published 10th Jul 2011, 16:49 BST

Updated 10th Jul 2011, 21:50 BST

European Central Bank president Jean-Claude Trichet said yesterday that European Union countries should think about creating a single finance minister for the continent.

However, he said it was a project for the long term.

"Over the long run we could imagine a flexible confederation in which we would have for the particular area of economic policy a federal minister and a federal ministry," Trichet said.