EU Commission President: 'Euro zone not facing new debt crisis.'

By REUTERS
June 2, 2018 06:33
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BERLIN - There is no threat of a new sovereign debt crisis in the euro zone despite an anti-establishment coalition government taking power in Italy, European Commission President Jean-Claude Juncker said in remarks published on Saturday.

Asked by the RND network of German newspapers if the single currency bloc faced a new crisis, Juncker said: "No. The reactions of the financial markets are irrational. People should not draw political conclusions from every fluctuation in the stock market. Investors have been wrong on so many occasions before."A governing coalition comprising two parties hostile to the euro was installed in Italy on Friday, calming markets spooked by the possibility of a new election that might have become a referendum on quitting the single currency.

"I am certain the Italians have a keen sense of what is good for their country," Juncker said. "They will sort it out."


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