Top official: EU entering crucial 10 days for euro
Tuesday, November 29, 2011
BRUSSELS (AP) -- A top official says the European Union is entering a crucial phase in its effort to stabilize the euro currency shared by 17 countries.
EU Monetary Affairs Commissioner Olli Rehn says, "we are now entering the critical period of 10 days to complete and conclude the crisis response of the European Union."
Rehn says work is needed on two fronts: making sure the eurozone has sufficiently credible firewalls in place to contain market turbulence, and further reinforcing economic governance.
He spoke Wednesday on his way into a meeting of EU finance ministers in Brussels.
The EU's 27 heads of government will meet next week to hammer out solutions to the euro's instability, which threatens to harm the global economy.