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EU wants quick solution to Irish woes-ECB's Nowotny

Source: Reuters - Mon 15th Nov 2010

European Central Bank policymaker Ewald Nowotny said on Monday he did not expect Ireland's woes to spread to Spain and Portugal as European authorities wanted to find a quick solution to the problems.

Asked in a radio interview if Portugal and Spain would take aid if Ireland did, Nowotny, an ECB Governing Council member, replied: "No, I do not expect that. That is exactly the reason why the EU wants to find a quick, good solution to Ireland, so that there will be no spill-over."

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