Reuters International

European Commission Vice-President Valdis Dombrovskis addresses a news conference at the EU Commission headquarters in Brussels, Belgium, July 27, 2016. REUTERS/Francois Lenoir

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BRUSSELS (Reuters) - European Union finance ministers need more time to find common ground on whether to set up a crisis fund that could provide financial support to countries in economic difficulty, the vice president of the European Commission said on Friday.

"There is a clear need for further reflection," Valdis Dombrovskis told a news conference in Bratislava after a meeting of EU finance ministers where options to set up the crisis fund were discussed for the first time.

"More work will be necessary," Dombrovskis said, adding that some countries favour the setting up of a insurance scheme for unemployed people, while others would prefer a fund more dedicated to investments, and others do not consider the issue a priority at the moment.

(Reporting by Jan Strupczewski and Francesco Guarascio; editing by Foo Yun Chee)

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