Monday, November 29, 1999

EU is serious about defending euro area - Rehn

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It is important markets see the European Union is serious about defending the euro area, and there has been stabilisation in markets this week, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Saturday."It is important that markets read our package and see that we are serious about our defence of the euro area," Rehn told an annual meeting of the European Bank for Reconstruction and Development in Croatia's capital."It is important to note that there has been a certain stabilisation of markets this week. If you look at spreads of sovereign debt, they have come down."(Reporting by Zoran Radosavljevic; writing by Michael Winfrey)
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