Eurozone ready to rescue members

By Tony Barber in Brussels
Published: March 3 2009 10:05 Last updated: March 3 2009 17:59


Eurozone authorities would help a member state in serious economic difficulties before it needed to approach the International Monetary Fund because of a debt-default risk, according to a senior European Union policymaker.

“If a crisis emerges in one eurozone country, there is a solution before visiting the IMF,” Joaquín Almunia, the EU’s monetary affairs commissioner, said on Tuesday. “It’s not clever to tell you in public the solution. But the solution exists.”

Read more: Eurozone Ready To Rescue Members


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