European finance ministers will discuss a proposed European Monetary Fund at their weekly meeting in Brussels, Spain's Finance Minister Elena Salgado reportedly said Wednesday.

Without expressing her view on the idea, she said, "We will be discussing this within Europe. I think it is wise to wait until next week."

Elsewhere on Wednesday, European Central Bank President Jean-Claude Trichet said the bank will examine the proposal for the creation of a European Monetary Fund to bailout crisis countries in the future.

"We don't reject the idea at this stage. We have to look at it and look at the details," media reports quote Trichet as saying in Frankfurt. He stressed that his understanding was that a European Monetary Fund would provide "non-concessional financial support with strong conditionality".

Last week German Finance Minister Wolfgang Schaeuble proposed setting up the EMF, which became a hot topic for discussion among European policymakers.