Arab Today, arab today eu ministers mull default survival plan
Last Updated : GMT 11:24:12
Arab Today, arab today
Arab Today, arab today

EU ministers mull default survival plan

Arab Today, arab today

Arab Today, arab today EU ministers mull default survival plan

Helsinki - UPI

EU members are considering a number of steps to prepare the bloc\'s economies and banks to survive a potential default, leaders said. Among other things, European Commissioner for Economic Affairs Olli Rehn said Friday ministers were discussing fast-tracking plans for a permanent rescue medium and that he expected a solution on recapitalizing European banks within a few days, The Wall Street Journal reported. \"I am confident that the eurozone summit and the European Council will be able to make a decision in mid-October on how a coordinated Europe can help to solve the distrust towards the banks\' capitalization,\" Rehn said during a conference in Helsinki, Finland. German Chancellor Angela Merkel said Friday EU leaders will discuss how to push forward with possible bank recapitalizations during an Oct. 17-18 summit. She said the European Banking Authority must determine the framework for any possible banking recapitalization.

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