Wednesday, October 19, 2011

Euro zone must assess solvency issues first - Mukherjee

NEW DELHI (Reuters) - The G-20 nations believe that the euro zone should first "credibly assess" their own solvency issues before the international community could extend any help, Finance Minister Pranab Mukherjee said on Wednesday.
"The overwhelming consensus in the G-20 is that euro zone should first identify and cridibly assess their own solvency problems before the international community can step in," Mukherjee told reporters.
Finance ministers and central bankers of the Group of 20 major economies pressed Europe last week to act decisively within eight days to resolve the euro zone's sovereign debt crisis which is endangering the world economy.
Countries outside the euro zone have warned of damage the European crisis was already doing to their economies and underlined the urgent need for action by the 17-nation single currency area.

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