WASHINGTON (MNI) – Europe has achieved its main target by
ensuring an increase in the International Monetary Fund’s resources and
continues to deliver on its own crisis response, European Union Economic
and Monetary Affairs Commissioner Olli Rehn said Friday.

“This is good news for Europe and the world,” Rehn said during a
press briefing following the G20 meeting in Washington.

Apart from securing an increase in the IMF’s firepower, “my main
message to our global partners is that euro area is delivering on its
comprehensive crisis response.”

Rehn noted Spain and Italy are making substantial progress in their
fiscal adjustment and structural reform efforts, noting that this is
particularly important in light of the recent re-emergence of market
pressures.

–Frankfurt newsroom +49 69 72 01 42; e-mail: jtreeck@marketnews.com

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