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Euro zone can act if member has payment woes-Juncker

Published 05/07/2009, 01:23 PM
Updated 05/07/2009, 01:32 PM

BERLIN, May 7 (Reuters) - The euro zone would help any member of the 16-nation currency area should it face insurmountable public finance problems, Eurogroup chairman Jean-Claude Juncker said in a German television interview.

"If a country were confronted with insurmountable payment problems, then we will solve these problems, with European solidarity," he said in a panel discussion on ZDF television, released on the Internet prior to being aired later on Thursday.

"It won't, by the way, come to that," he added.

"We won't allow any European country to go bankrupt," said Juncker, who is also prime minister of Luxembourg.

European Industry Commissioner Guenter Verheugen, taking part in the same panel discussion, added: "The means are available for this."

Asked if there was a plan to deal with such risks, Juncker said: "Yes...On the day the euro zone needs a plan, there will be a plan. And if that was tomorrow morning, the plan would be there." (Reporting by Paul Carrel; Editing by Victoria Main)

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