Highlights: Euro zone finance ministers and officials

Reuters News
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Posted: Jul 11, 2011 8:04 AM
Highlights: Euro zone finance ministers and officials

BRUSSELS (Reuters) - Euro zone finance ministers and officials were to meet on Monday to discuss a second bailout package for Greece and the financial situation in Italy.

Following are highlights of their comments ahead of the talks:

GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE

ON FURTHER ASSISTANCE FOR GREECE:

"We will today sign the agreement for the medium-term stability mechanism. We will adjust the EFSF (European Financial Stability Facility) to the volume that we see fit for the medium term.

"We have put in the place what was necessary for Greece and now we will swiftly, but without undue haste, negotiate a new program for Greece. We're on the right track."

ON PERFORMANCE OF RATINGS AGENCIES:

"We can't decide on ratings agencies on our own. We will check all possibilities, whether there has been abusive behavior.

"Last week there was a statement from one agency which was received with complete incomprehension, with regards to Portugal, even though Portugal is on its way to enact what has been agreed on.

"Apart from that we have to check the possibilities of how we can break the oligopoly of the ratings agencies."