TALLINN, Estonia (MNI) – EU Monetary Affairs Commissioner Olli
Rehn said Monday he firmly believes that Ireland will manage to overcome
the problems in its banking sector.
“I have full confidence in Ireland’s capacity to act with
determination in order to complete the financial repair and the
necessary restructuring of the banking and financial sector,” Rehn told
reporters here at the sidelines of an event on the upcoming Eurozone
accession of Estonia.
Commenting on the EMU enlargement, the Commissioner said Estonia’s
fiscal discipline “will be an example for the rest of the Eurozone.”
“I count on Estonia becoming an active and vocal member of the
Eurogroup, which will speak out for fiscal discipline in the whole
Eurozone,” he continued.
Estoninan Finance Minister Juergen Ligi pledged at the opening of
an euro exhibition here that “Estonia will be able to comply
consistently with the requirements of the Stability and Growth Pact.”
European Central Bank President Jean-Claude Trichet said at the
same event that Estonia is “one of the most determined reformers” in
Europe.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: M$X$$$,M$$EC$,M$$CR$,MGX$$$,M$$FX$,MFX$$$]
