ECB’s Lorenzo Bini Smaghi says he sees no chance of a euro zone country defaulting on its sovereign debt and said the idea of a break up of the euro zone is “silly.” Bini Smaghi, speaking in a tv interview, said that Eastern European countries were in trouble because they were not part of the euro and the European Union should come up with an aid framework for these countries. The official also said deflation in the euro-zone is “not a realistic hypothesis” at the moment.