22 November 2010, 18:01  Irish bail-out will stabilise the euro

Spain's foreign minister, whose country is considered at risk in Europe's debt crisis, said today that the decision by Ireland to accept a bail-out would stabilise the euro. Foreign Minister Trinidad Jimenez welcomed the decision by the European Union to come to the aid of Ireland as 'good news' and said the exact amount of the bail-out would be settled in 'the coming days'. 'The euro will stabilise thanks to the help of all European Union nations,' she said as she arrived for a regular monthly meeting of EU foreign ministers in Brussels. For its part, Spain was 'achieving all the objectives' necessary to fix its own fiscal problems, she said when asked whether Madrid could follow Ireland's footsteps an ask for a rescue. And Portugal, seen as the euro zone economy most at risk after Ireland, has hailed a bailout plan to aid Dublin, saying it 'calms fears, reduces incertitude and boosts market confidence.' Portugal's Finance Minister Fernando Teixeira dos Santos said in a statement that the package was 'without doubt a positive fact for the stability of the euro zone.'

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