Tags: EU | Juncker | US | Downgrade

EU’s Juncker: US Downgrade Will Jolt Whole World

Monday, 01 Aug 2011 02:39 PM

Euro group chairman Jean-Claude Juncker said on Monday it would be surprising if the rest of the world, and the eurozone in particular, avoided repercussions were the United States to lose its AAA credit rating.

In an interview with France's Le Figaro newspaper, Juncker also said there would be "no blank check" for struggling eurozone peripherals as they would be obliged to stick to the conditions of their bailout programs.

Juncker, the prime minister of Luxembourg, said a wide-ranging bailout deal for Greece hammered out at a heads of government meeting last month in Brussels was on track, though these decisions could have been taken sooner.

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"If any holes are discovered, they can be repaired," he told the newspaper.

Referring to French President Nicolas Sarkozy's proposal to overhaul the governance of the eurozone, introducing a greater role for national governments in steering economic coordination, Juncker said European Council President Herman Van Rompuy would be a "logical and natural candidate" to head a "council of the euro," the paper reported.

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Euro group chairman Jean-Claude Juncker said on Monday it would be surprising if the rest of the world, and the eurozone in particular, avoided repercussions were the United States to lose its AAA credit rating. In an interview with France's Le Figaro newspaper, Juncker...
EU,Juncker,US,Downgrade
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2011-39-01
Monday, 01 Aug 2011 02:39 PM
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