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UPDATE 1-Italy PM says no euro zone plan to rescue members

Published 03/20/2009, 09:49 AM
Updated 03/20/2009, 09:56 AM

(adds Berlusconi comment, background)

BRUSSELS, March 20 (Reuters) - Italy's Prime Minister Silvio Berlusconi said on Friday there was no euro zone plan to rescue weaker members but that any euro zone country in trouble would be shown solidarity by other members.

"There is no plan of help for the eventual needs of any country," Berlusconi told a news conference in Brussels, where he is attending a European Union summit.

Berlusconi pointed out that the EU had already helped Hungary when it was hit by financial difficulties and said if this happened to any euro zone country, "European solidarity would certainly face up to what's needed".

Several other EU officials responded coolly to comments by a senior German member of parliament that euro zone countries had outlined a plan to prevent member states which use the currency going bankrupt, with Ireland and Greece top candidates for aid.

"This is a theoretical question," Luxembourg Prime Minister Jean-Claude Juncker, chairman of the 16-member euro zone group, said of the state bankruptcy risk. "It won't happen."

The European Central Bank said the information in the deputy's remarks on its role were untrue.

Otto Bernhardt of Germany's ruling conservative party told Reuters the European Central Bank had a fund that could inject emergency funds to a country within 24 hours. [ID:nLK325468]

(For related stories, double click on [ID:nLJ56714])

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