Extracts from the press briefing by Amelia Torres, spokesperson of Joaquín Almunia, on a bailout solution for eurozone members

Type: Summary of press conference   Reference: I-060754   Duration: 10:31:07  Lieu:
End production: 03/03/2009   First transmission: 03/03/2009
Amelia Torres, Spokesperson of Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, explains that it is unlikely that any euro country will be in danger of defaulting on public debt payments, but she added that if if was the case, a solution would be find. She explained in this way the words of Joaquin Almunia, Member of the EC in charge of Economic and Monetary Affairs, saying that the euro are has a solution ready to rescue any member in danger.

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10:29:34 Title 00:00:04
10:29:39 General view of the press conference room 00:00:06
10:29:45 SOUNDBITE (English) Amelia Torres, EC spokesperson for Economic and monetary affairs: Basically, what he (Joaquín Almunia) has said is that in the unlikely event, and I stress in the unlikely event because there is no absolute indication that such a situation is arising, but if in the unlikely event that a euro-area country would have financing difficulties, a solution would be found; this is said with the intent of squashing speculation which has been going on for quite some time. 00:00:37
10:30:22 Cutaway 00:00:06
10:30:28 SOUNDBITE (English) by Amelia Torres: We have the particular instrument that we used for Hungary and Latvia to help countries outside the euro area and in the EU; in the unlikely case that this was needed for a euro area country, that solidarity would be equally displayed in one way or another but I don't think it is necessary because there is no indication that such situation is arising. 00:00:39
10:31:07 Cutaway (3 shots) 00:00:18
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