Bloomberg News

Juncker Sees ‘Final, Even Ground-Breaking’ Decision at EU Summit

October 25, 2011

Oct. 25 (Bloomberg) -- Luxembourg Prime Minister Jean- Claude Juncker said he is convinced that European leaders will find a “final and even ground-breaking” solution to the debt crisis at a Brussels summit tomorrow.

“I expect and I’m even convinced that tomorrow a final and even ground-breaking decision will be taken,” Juncker, who also leads the group of euro-area finance ministers, said today in an interview with Swiss television in Zurich. “We should try and reach a solution that doesn’t overburden the ECB.”

European leaders will meet in Brussels tomorrow evening to reach agreement on bolstering the euro-area rescue fund, recapitalizing banks and determining the size of bondholder writedowns on Greek debt. Euro-area leaders are counting on the European Central Bank to continue buying troubled nations’ bonds as a key element in the rescue package, according to three people familiar with the deliberations.

--Editor: Jones Hayden

To contact the reporter on this story: Simone Meier in Zurich at smeier@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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