Italy Grilli: Europe Policymakers Committed To Currency Union

TOKYO (MNI) – European policymakers are fully committed to the
common currency, Italian Finance Minister Vittorio Grilli said in a
speech at the International Institute of Finance’s 30th Anniversary
Membership Meeting here on Friday.

“The clear message from European policymakers is that the euro area
is not an experiment but the future of Europe and is not to be
reversed,” Grilli said.

“Euro area leaders have lived up to their commitments to do all to
safeguard the stability of the Eurozone,” he said, citing progress
on governance reforms, plans for a banking union and the new,
permanent bailout fund ESM.

The ECB played a “major role” in fighting the crisis, Grilli said.

“The OMT has been key to influence expectation and address
fragmentation of financial markets,” he said, noting that this should
remove “unfounded fears about a break-up of the Eurozone that should
eventually restore investor confidence.

–Frankfurt bureau tel.: +49-69-720 142 Email: jtreeck@mni-new.com

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