Bloomberg News

EU Ready to Defend Against Irrational Market Moves, Juncker Says

December 09, 2011

Dec. 9 (Bloomberg) -- Luxembourg Prime Minister Jean- Claude Juncker said investors should realize that European leaders are prepared to defend their countries against contagion and “irrational moves” in financial markets.

Investors will “see that we’re ready to underline the defense mechanisms against contagion risks” and that “we have means to defend ourselves against irrational moves in financial markets with the 500 billion euros in the permanent rescue mechanism,” Juncker said today in Brussels after a summit of European leaders. All elements of the leaders’ decisions “should give financial markets more confidence, though I won’t take a bet on it,” he said.

To contact the reporter on this story: Stephanie Bodoni in Brussels at sbodoni@bloomberg.net

To contact the editor responsible for this story: Jones Hayden at jhayden1@bloomberg.net


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