• Comment of the day

    Jacques on Muthumbi junket: next the police minister will go to a renewables congress.

  • Rand in crisis

    The rand plunge reflects SA's leadership woes, says Leopold Scholtz.

  • Ignorance is no excuse

    The SA Tourism CEO should stop shifting blame for the visa fiasco, says Solly Moeng.

All data is delayed
Loading...
See More

EU must decide on new measures 'urgently'

Jan 24 2011 08:02
Reuters
Berlin - European governments must urgently decide on common measures to protect the stability of the euro zone, EU Economic and Monetary Affairs Commissioner Olli Rehn told a German newspaper on Monday.

"We must agree on common measures as soon as possible - the sooner the better," he told Die Welt. "The calming on markets in the last few weeks has given us a bit of breathing space, but there is no reason to lean back now, we must now act with the necessary determination."

Berlin is insistent that it will not rush any decision on measures to fight the euro zone debt crisis but will instead wait until a comprehensive package of measures is ready for discussion at a summit of European Union leaders in March.

However Rehn said it was important to prevent the debt crisis from undermining the economic recovery and positive developments on the labour market.

"It is necessary that European governments ensure it is not the financial markets deciding and endangering the economic recovery," he said.

Rehn said the euro rescue fund's effective lending capacity must be increased and its functions diversified to clear any doubts that the EU was able to act against speculation on the markets.

Die Welt also cited sources close to the negotiations as saying EU governments were intensively discussing plans to allow the euro rescue fund to extend precautionary credit lines to at-risk countries. If possible, the credit line would not have to be used, but rather displayed simply to scare away speculators, the paper wrote.
un  |  europe  |  euro  |  eu

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Myths that funding and red tape are the two biggest challenges faced by emerging companies and entrepreneurs, have been debunked by a report.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb’s possible intervention in the markets to stem the rand’s fall is:

Previous results · Suggest a vote

Loading...