Eurozone not about to break up: Bank of France governor

16th November 2010, Comments 0 comments

The eurozone is not "about to break up" despite fears over debt crises in Ireland and other member countries, the governor of the Bank of France, Christian Noyer, told LCI television.

"Let's not imagine that the eurozone is about to break up, that would be irresponsible ... We're not dealing with unmanageable situations," said Noyer, who also sits on the European Central Bank's governing council.

"The situation is much more satisfactory than last spring because we have mechanisms ... solutions that exist in case of need," he said.

Eurozone finance ministers were meeting Tuesday in Brussels to grapple with a spreading debt crisis that brought Greece to its knees in the spring and now threatens Ireland and also Portugal.

Speculation is building over a possible rescue for Ireland -- targeting its banking sector -- running up to 90 billion euros (123 billion dollars), after debt-riddled Greece was bailed out by the EU-IMF with 110 billion euros in May.

© 2010 AFP

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