ON GREEK DEBT TALKS...
ON ECONOMIC OUTLOOK...
ON SITUATION IN HUNGARY...
"I regret the inconsistent decision earlier today by Standard and Poor's concerning the rating of several euro area Member States, at a time when the euro area has taken decisive action in all fronts of its crisis response..."
Nearly two years since the Greek crisis first blew up, the country is still on the verge of defaulting and needs the latest bailout from the EU, European Central Bank and IMF by March if it is to pay the interest on its loans.
Extracts from the press conference by Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro