German Deputy Finance Minister Joerg Asmussen said the euro region is prepared for any financial-market “turbulence” resulting from the bloc’s sovereign-debt crisis.
“We have the strengthened Stability and Growth Pact, we have the euro-plus pact for competitiveness, we have the design of the permanent crisis-resolution mechanism, the ESM,” Asmussen said in an interview on his way to China, where German officials will participate in Group of 20 talks tomorrow in Nanjing. “We will explain the results in detail to our partners. We are well-suited for turbulence that may arise in financial markets.”
“We have the strengthened Stability and Growth Pact, we have the euro-plus pact for competitiveness, we have the design of the permanent crisis-resolution mechanism, the ESM,” Asmussen said in an interview on his way to China, where German officials will participate in Group of 20 talks tomorrow in Nanjing. “We will explain the results in detail to our partners. We are well-suited for turbulence that may arise in financial markets.”
