Amadeu Altafaj Tardio, EC spokesperson for economic and monetary affairs answered the journalists during the daily midday briefing concerning Ireland, Portugal and Greece financial situations. Anxiety over heavy government debts in Europe has flared up again as investors questioned whether Ireland, Greece and Portugal can cut their budget deficits without choking off desperately needed economic growth. Europe’s most indebted countries find themselves in a downward spiral of budget cuts and economic stagnation. The European Commission answers that no country has yet sollicited the European Stabilisation Mechanism and even the weakest of member States have their debts under control.
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