Schaeuble: liberal world needs commitment of US

German Finance Minister Wolfgang Schaeuble said on Thursday it would be possible to develop the euro zone’s European Stability Mechanism (ESM) rescue fund into a European monetary fund soon.

Asked if this would be possible in the short term, Schaeuble replied: “Yes, I think so.”

Speaking on the sidelines of International Monetary Fund meetings in Washington, he also said any new aid programs for euro zone countries should be without the international lender and so under European auspices.