On Wednesday, European Commission President Jose Manuel Barroso told a news conference in Brussels that tighter euro zone integration could include a banking union, a joint bank deposit guarantee scheme and euro area financial supervision. This came a day after he said that eurozone countries should come up with a timetable to reach full economic union, to reassure investors about the future of the single currency bloc.

Finnish Prime Minister Jyrki Katainen was unwilling Wednesday to take a position on the details of the Commission's push for full economic union because he had not yet had time to familiarize himself with them. He did say, however, that the proposals made would not help solve the present crisis.

"My understanding is that the reforms are such that their preparation would take years, as would their implementation, so they wouldn't impact this crisis," Katainen told Yle.

The Prime Minister did, however, consider it a good thing that the future of the economic and currency union as well as the EU as a whole is being pondered. He does not expect to see any concrete results in this respect from the June summit.

"It will maybe be more of an orientation discussion," said Katainen.

Prime Minister Jyrki Katainen added that he sees a reform as a far-reaching project.

"It will require a careful national discussion before it will be possible to formulate a position."