Germany ready to help eurozone members

Article reports that Germany signalled February 2009 that it would support emergency action to protect the eurozone if one of its 16 member-states found itself in such serious difficulties that it could not refinance its debt.

The government would back assistance to a troubled eurozone state in spite of a European Union rule, known as the 'no bail-out clause', which prohibits collective liability for debt incurred by an EU state.

Euro Intelligence, 18.2.09: Did you know that there is an explicit bailout clause in the Maastricht Treaty http://www.eurointelligence.com/article.581+M5d8cf667bb1.0.html

The Economist, No.8620, 28.2.09: Germany: Europe's reluctant paymaster http://www.economist.com/world/europe/displaystory.cfm?story_id=13184821

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