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Spanish Treasury's Morales: no chance of euro breakup

Source: Reuters - Tue 13th Sep 2011

There is no chance of the euro zone breaking up, the Spanish Treasury's public debt manager said on Tuesday.

"I don't see the euro breaking up at all," Ignacio Fernandez-Palomero Morales said at a seminar in Tokyo.

"The problem is not decisions, the problem is the way decisions are made," he said, noting markets are not good at pricing in political uncertainty.

"Everything is going in the right direction," he added.

Debt crisis fears in Europe have escalated as Greece's fiscal repair efforts appear to be faltering and as Italy and Spain continue to be sucked deeper into trouble.

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