The debt crises of Greece and Ireland will not trigger the collapse of the 16-nation euro currency, according to Klaus Regling, head of the European Union’s bailout fund.

“There’s zero danger,” he was quoted by The Associated Press as saying. “No country will voluntarily give up the euro – for weaker countries that would be economic suicide, likewise for the stronger countries.”

European Commission President Jose Manuel Barroso has refuted claims that Portugal would follow Ireland in seeking a rescue package, saying the reports were absolutely false, completely false,” BBC reports.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.