Summit deal saved euro: French finance minister

27th October 2011, Comments 0 comments

A deal reached at a summit of eurozone leaders has saved the single currency, French Finance Minister Francois Baroin said Thursday.

"Yes, indeed," he said on RTL radio when asked if the deal had secured the future of the euro.

"Of course there was a risk of explosion. This is an incredible systemic crisis we're going through.

"Last night's deal is an ambitious, comprehensive and credible response," he added.

"That's what's going to resolve this business (the debt crisis), that's what will get us out of this zone of turbulence, that's what will allow the economic rebound, that's what will stabilise the eurozone and world growth."

European leaders meeting overnight in Brussels reached a last-ditch deal early Thursday to fix their festering debt crisis, shoring up its bailout fund, pledging new funds for Greece and pushing banks to share the pain.

© 2011 AFP

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