LUXEMBOURG/FRANKFURT (Reuters) - European policy makers played down on Tuesday the idea of creating a European Monetary Fund, saying it was at most a long-term project that did not offer a solution to Greece's immediate debt problems.

Influential German central bank chief Axel Weber, seen as front-runner to be the next president the European Central Bank, branded discussion of a fund that could aid euro zone countries in financial distress "counterproductive."

"It's not helpful to talk about ways to institutionalize help when the question is how to im   [READ MORE]