Monday, September 19, 2011

Contradictions in the Euro- Area - Everyone is disoriented says Euro-Group Chief Junker



Eurogroup Chief Jean-Claude Juncker appears somewhat confused after the meeting on Wroclaw, Poland, on Friday.

"In the euro area, everyone is disoriented," said Juncker at the press conference, cracking a joke for the audience after he had mistaken two upcoming deadlines in the Greek debt crisis.

"I hope you don't mean the Commission would be disoriented, that would be impossible by definition," European Commissioner Olli Rehn said as he attempted to entertain the audience of journalists attending the press conference.

"The Commission is not disoriented but the Commission is sometimes disorienting," Juncker continued amid laughter, suggesting the Commission might have lacked coherence in its response to the debt crisis.

Rehn retorted saying he was "trying to navigate in the sea of 17 euro area member states," in an apparent reference to the cacophony of diverging national voices that have fuelled market uncertainty and worsened the eurozone debt crisis.

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