No risk of new sovereign debt crisis

The eurozone is not facing the same kind of sovereign debt crisis it did 10 years ago despite current market volatility, Pascal Donohoe, the Irish finance minister who chairs meetings of euro-using countries, said Monday, the FT reports. The current volatility’s “completely different from the kind of crisis environment we were in”, he said. The eurozone now had a “stronger architecture” and “deeper foundations for our common currency”, he added.

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