Bloomberg News

EU’s Rehn Says Fairly Good Chance of Averting European Calamity

October 12, 2011

Oct. 12 (Bloomberg) -- Economic and Monetary Affairs Commissioner Olli Rehn said there is a fairly good chance of averting a European calamity.

In a pre-recorded speech to a Dublin conference, he said consensus on resolving Europe’s debt crisis is in the making. He said economic growth is stalling and Europe is in “a very dangerous place.”

He said “calamity” can be avoided through coordinated action, increasing banks’ capital and enhancing growth.

To contact the reporter on this story: Joe Brennan in Dublin at

To contact the editor responsible for this story: Dara Doyle at

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