The euro zone is prepared to help if one of its members is threatened with defaulting on debt, European Commission President Jose Manuel Barroso said on Wednesday.
“We are considering all options. We are monitoring the situation inside the euro zone and outside the euro zone and I am sure that we are going to be able to respond to any difficult situation,” Barroso told reporters.
“If there is a problem in the euro area we will have the means to act, but I am not now going to speculate about how, when, which countries, because we are dealing with markets. We have to be careful with comments we make,” he said.
“We believe we have instruments in Europe to react to a situation like the one you have described,” he said in response to a question on whether the EU could bail out a euro zone country threatened with bankruptcy.
Barroso’s remarks echo similar comments made on Tuesday by EU Economic and Monetary Affairs Commissioner Joaquin Almunia. (Reuters)