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Zapatero says EU will defend the Euro

Source: Reuters - Sat 6th Feb 2010

European Union countries are united in their defence of the euro, Spanish Prime Minister Jose Luis Rodriguez Zapatero said on Friday.

"We will defend the euro," Zapatero told a news conference after announcing a proposal to overhaul Spain's labour laws.

The prime minister said much criticism of the single currency came from analysts from outside the euro zone.

"It's important to say again that the euro is a strong and stable currency .... All of the countries of the European Union support the euro and support all of the countries that belong to the euro," Zapatero said.

Speculation that euro members Greece, Portugal and Spain will struggle to pay their debts has shaken world markets in recent days.

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