European Central Bank Chairman Jean-Claude Trichet said in a speech on Thursday in Germany that he supports setting a finance ministry for the entire euro zone region, where Trichet believes that such a ministry would help the euro zone area in the future.

Trichet signaled that having a single market, a single currency, and a single central bank means that a single finance ministry is possible., although trichet signaled that such a step would require a change to EU treaties. Trichet will end his second and final term in October as president of the ECB.