BRUSSELS, March 8, 2010 (AFP) - France sees the creation of a European version of the IMF to help crisis-hit countries as a "good idea," a government source said Monday, but warned it would require a modification of European treaties and could take years.
    "The establishment of a European monetary fund is a rather good idea," the government official told AFP on condition of anonymity.
    But the proposal put forward by Germany is "very, very complex" and would "require a modification of the treaties," the official said.
    "It's not an issue for the next few weeks, it's an issue for the next few months and years since we saw with the Lisbon treaty that it's quite difficult for new texts to be adopted in all the member states," the official added.
    There therefore needs to be work on more immediate ways of providing assistance "in case there are new difficulties in Greece," which has been hit by a crisis in its public finances, the source continued.
    The European Commission is expected to float proposals on Tuesday to create a European monetary fund that could rescue debt-hit countries by providing loans on strict conditions that they cut their deficit levels.
    The 16-nation eurozone has come under heavy pressure due to the Greek crisis.