–Chief Whip Tells MNSI He’s Bullish Ahead Key EFSF Vote Sept 29

LONDON (MNI) – The Chief Whip of the German CDU party Peter
Altmaier has said that the euro zone sovereign debt crisis will not
cleave apart the ruling CDU/CSU/FDP coalition, adding that all members
of the government remain committed to avoiding a Greek sovereign
default.

“We have a very strong coalition government, we have won all votes
in parliament so far and there is a clear cut commitment of all the
parties involved to continue and to lead this government to success,”
Altmaier said in an exclusive interview with Market News International.

“In a democratic country, it’s quite normal that different views
are discussed and debated. What is important is that the government
provides clear guidance to the markets and therefore it was not very
helpful when some members of government were unclear about our
commitment,” he said.

Later this month the German parliament will hold the first of a
series of three votes on new measures to help firefight the euro zone
sovereign debt crisis. They must then approve a new Greek rescue package
in October, and in December the treaty to set up a permanent eurozone
crisis management fund.

“The German position is very clear, we want to conserve all member
states within the euro zone and we want to help Greece avoid default,”
Altmaier said in regards to the vote.

In an earlier speech to a Business for a New Europe event at the
German embassy here, Altmaier said that European leaders must continue
to support countries that have lost market access.

“Countries like Greece, Ireland and Portugal demand and deserve our
support. This is a crisis they cannot solve on their own,” he said.

Altmaier also said that Europe must avoid a disorderly at all
costs.

“If we allowed a default of a country of the euro zone, if we
allowed the dismantling of the euro zone by the expulsion of weaker
member states, I’m pretty much convinced that we would face domino
effects that would be very difficult to control,” he said.

“What would happen to countries like Italy, like Spain, like
France? If we would admit Greek default in an uncontrolled way?… We
have to avoid uncontrolled events, we need a better and more efficient
structure of the member states of the euro zone,” he added.

“We will stabilize the euro zone,” he added later.

–London Bureau; Tel: +442078627492; email: wwilkes@marketnews.com

[TOPICS: M$X$$$,MGX$$$]