The European Union is able to help out eastern European member states should they be hit by banking collapses, the European Commission's economy chief said on Friday (20 February).
"We are facing a very serious, difficult economic situation in all of our countries," economic affairs commissioner Joaquin Almunia told reporters in Brussels in response to questions about whether there should be a rescue package for the region.
"Europe is equipped to help the weakest economies within...
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