The European Central Bank talked about cutting interest rates earlier this month and is expected to do so again in its next meeting in early July, a central bank policymaker was quoted as saying on Wednesday.

ECB Executive Board member Benoit Coeure also said that European politicians should spell out their vision for the common currency bloc's future in the upcoming summit, adding he believed a commitment to more integration would stabilise markets.

"Cutting rates is certainly an option as far as our monetary policy is concerned," Coeure told the Financial Times in an interview.

"It was discussed at the last governing council meeting and I would expect the next council to discuss it again."

Coeure said that while an interest rate cut would offer some help to the ailing economy, it should not be regarded as a cure-all.

"It would certainly not fix the fundamental problems," Coeure was quoted as saying.