SEOUL, Nov 12 (Reuters) - The European Union is ready to deal with all scenarios in the current Irish financial crisis, German Chancellor Angela Merkel told a press conference at the Group of 20 leaders' meeting in Seoul on Friday.
Merkel said financial market investors, who have sold Irish assets heavily due to concerns the country could default, had failed to understand the EU's support mechanism to deal with crises.
The risk premium investors charge to hold Irish government bonds rather than German benchmarks hit a euro lifetime record on Wednesday due to political and fiscal uncertainty and market fears of a possible first default in the euro zone. [ID:nLDE6A91LA]
(G20 Newsroom, +82 2 800 1122)