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Makuch: Europe Will Survive Times of Financial Troubles
Tuesday 07 December 2010 Zoom in | Print page
Bratislava, December 7 (TASR) - Under the current fiscal framework in Europe, the continent will survive the ongoing financial maelstrom, singling out the existing EU safety net EFSF (European Financial Stablisation Facility) as a major tool in providing shelter for Eruopean states, Slovakia's central bank (NBS) Governor Jozef Makuch told reporters in Bratislava on Tuesday.
"I view the current establishment of the safety net guarantees, worth €750 billion, to be sufficient for now. Even if there is a problem in the future, the eurozone is ready to extend the safety net. But this really isn't the case now," said Makuch in expressing his confidence in the buoyancy of the euro.
Asked to comment on the possibility of a future safety-net bailout for Portugal, Makuch refused to speculate. "As far as I know, they are not even thinking of asking for help," Governor Makuch said.
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