European Commission President Jean-Claude Juncker thinks that the single currency area should have a common system of guaranteeing bank deposits, as well as its own treasury.
"We are also in favour of introducing a European treasury... Obviously there will be a lot of work to be done on the content of it, but I think it is important that the European Union should have a treasury," Juncker said in his state of the union address to the European Parliament.
Juncker also called for an EU-wide deposit guarantee scheme which would safeguard money that's been deposited with a bank if it defaults.
"We will propose moving towards a deeper economic and monetary union, a system of deposit guarantees and various other initiatives," Juncker said.
I think it is essential that we have a common deposit guarantee scheme... It will be a reinsurance scheme."
European Union legislation currently requires member states to protect certain kinds up to €100,000 (£73,000) but there isn't a system for the European Union as a whole.
A report published earlier this year showed officials favoured an EU-wide guarantee that would complement by existing national schemes.