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Eurozone ministers mull bailout, banking union tension
Published in Saudi Press Agency on 13 - 09 - 2013

AlQa'dah 7, 1434, Sep 13, 2013, SPA -- The eurozone may be on the road to recovery, but there were no champagne corks popping as its finance ministers met on Friday - amid simmering tensions about the creation of a banking
union and uncertainty as to the fate of its problem countries, dpa reported.
"Certainly, this is no time for shouting that the crisis is over.
That is clearly premature," EU Economy Commissioner Olli Rehn said
after meeting with the 17 ministers in the Lithuanian capital,
Vilnius. "Complacency is a luxury that we simply can't afford."
The informal talks unfolded amid renewed speculation that Slovenia
will become the sixth country in the crisis-battered currency bloc to
need a bailout.
Slovenian Finance Minister Uros Cufer insisted his nation is "very
well-positioned" to take care of the problems in its banking sector
on its own. Other ministers also downplayed reports that a rescue
will soon be needed.
It would be good, however, for Ljubljana to "pick up the pace even
more so that Slovenia is on firm ground," said Dutch Finance Minister
Jeroen Dijsselbloem, who chairs the ministers' Eurogroup.
The meeting delivered some good news for one bailout recipient,
with a green light for Cyprus to receive its next aid tranche of 1.5
billion euros (2 billion dollars) by the end of September.
But decisions on the way forward for bailout nations Spain,
Greece, Ireland and Portugal were left for later this year, with the
latter three expected to need some form of future support.
-- SPA
19:58 LOCAL TIME 16:58 GMT
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