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No alternative to Greek rescue - ECB's Nowotny
VIENNA, June 29 | Wed Jun 29, 2011 8:47am EDT
VIENNA, June 29 (Reuters) - Helping Greece overcome its debt problems is necessary to safeguard the stability of the euro, ECB Governing Council member Ewald Nowotny was quoted as saying on Wednesday by an Austrian labour union whose conference he addressed.
"For Greece, it is not only the financial policy problems we have to discuss, the role of the euro also has to be considered," the Bau-Holz construction and timber union quoted Nowotny as saying in a statement on Wednesday.
"The euro is still the most important and stable currency and that must remain the case. The fact is that there is no alternative to the safety nets, especially for Austria as an exporting country."
An Austrian central bank spokesman confirmed that Nowotny had attended the conference.
VIENNA, June 29 | Wed Jun 29, 2011 8:47am EDT
VIENNA, June 29 (Reuters) - Helping Greece overcome its debt problems is necessary to safeguard the stability of the euro, ECB Governing Council member Ewald Nowotny was quoted as saying on Wednesday by an Austrian labour union whose conference he addressed.
"For Greece, it is not only the financial policy problems we have to discuss, the role of the euro also has to be considered," the Bau-Holz construction and timber union quoted Nowotny as saying in a statement on Wednesday.
"The euro is still the most important and stable currency and that must remain the case. The fact is that there is no alternative to the safety nets, especially for Austria as an exporting country."
An Austrian central bank spokesman confirmed that Nowotny had attended the conference.