Bernanke: Europe committed to euro's survivalNews added by ProWEB Media on June 8, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

Federal Reserve Chairman Ben Bernanke said this week that European leaders are committed to the survival of the euro and have the funds to meet the obligations of indebted member countries.

Bernanke noted that a euro stabilization package that will cost nearly $1 trillion is "a lot of money," but would help protect Greece, Portugal and Spain for many years.

"European leadership is strongly committed to doing whatever is necessary to preserve the euro, preserve the euro zone, preserve the European project, and avoid financial problems that would certainly arise," he said.

He also admitted that many investors are not yet convinced that Europe's debt issues will be resolved, adding that more European rescue money may be necessary.
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