The European Union is able to help any member of the euro area that defaults on debt repayments, economy commissioner Joaquin Almunia said on Tuesday (3 March), adding that a rescue plan has already been drawn up, but that it would not be "clever" to reveal such solutions in public.
"If a crisis emerges in one euro area country, there is a solution before visiting the IMF," he said during an address to the European Policy Centre, a Brussels based think-tank.
"You can be sure that...
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