FACTBOX-Official comments on euro zone turmoil

LONDON Nov 25 (Reuters) - Senior euro zone officials dismissed any risk of the single currency area breaking up after financial markets, alarmed by Ireland's debt crisis, forced the borrowing costs of Portugal and Spain to record highs.

For a round-up of stories on Ireland's bailout, click on: [ID:nLDE68T0MG]. Below are quotes from European officials on the problems now facing the euro zone.

THURSDAY NOV 25

AXEL WEBER, EUROPEAN CENTRAL BANK GOVERNING COUNCIL MEMBER

"The euro is one of the most stable currencies in the world. The internal stability value of the euro is no less than that of the Deutschmark. History is a path that only leads to the future. There is no way back."

"The idea that the euro has not led to wealth but created uncertainty in Europe or even the... idea that we would have weathered the crisis better without the euro is a complete misunderstanding of the depth of problems we're dealing with.

"To measure the euro, a project of a century and a success story in its first 10 years, now after its first problems as we are facing them with Ireland and Greece, would be like questioning the marriage altogether after just the first tensions."

"Of course there are problems, but what is the alternative? I cannot imagine an alternative without the euro. It would be indefinitely more expensive for us in Germany." [ID:nDEK002085]

GUIDO WESTERWELLE, VICE CHANCELLOR, GERMANY

"We want a euro that is protected from turbulence by a weather-proof policy." [ID:nLDE6AO112]

ANGEL GURRIA, HEAD, ORGANISATION FOR ECONOMIC COOPERATION AND DEVELOPMENT

"The euro zone will continue to grow."

"In Ireland we now have a problem of the banking system, so it is a failure of the regulatory, the supervisory (system) and also of corporate governance." [ID:nLDE6AO1J2]

CHRISTINE LAGARDE, ECONOMY MINISTER, FRANCE

"The mechanism of crisis resolution is under consideration ... This participation of the private sector could take a series of different and varied forms, principally collective action clauses or notably the commitment of banks to keep their investment in countries at risk." [ID:nPISNME6HI]

ANGELA MERKEL, CHANCELLOR, GERMANY

"This is not about the crisis mechanism from now until 2013 having something in it changed. That will remain as agreed. This is about a future crisis mechanism. Neither is it about bonds that come under the old, temporary crisis mechanism... We are of the opinion that market mechanisms, in other words different interest rates, will impose discipline." [ID:nLDE6AO1DW]

WEDNESDAY NOV 24

ANGELA MERKEL, CHANCELLOR, GERMANY

"Have politicians got the courage to make those who earn money share in the risk as well? Or is dealing in government debt the only business in the world economy that involves no risk?... This is about the primacy of politics, this is about the limits of the markets." [ID:nLDE6AN161]

EWALD NOWOTNY, ECB POLICYMAKER/CENTRAL BANK CHIEF, AUSTRIA

"(The Ireland aid package) will be offered with very strict conditions... It is a programme that we are carrying out with the IMF, therefore it is in the character of IMF programmes, but it is very important to us that the EU Commission and the ECB are involved because it concerns a European country."

"(The Irish tax system) now needs to be cleaned up. It is possible and if (it happens) I see a very positive perspective for Ireland."

"(Merkel's comment on the euro) irritates me... This is not differentiating between the euro as a currency and the problems of individual (euro-zone) states ... the euro is not in danger, individual states are in danger."

"In terms of the economic basis, Portugal cannot be compared with the other countries. But one must also say that the economy (in general) is also very much about psychology and the markets, in part, act in exaggerated ways, in panic."

"In this sense, there is a risk, and therefore it is important to stabilise Ireland to eliminate contagion effects."

[ID:nLDE6AL108] [ID:nN23176152]

IVAN MIKLOS, FINANCE MINISTER, SLOVAKIA

"Even in the current conditions, which are very tough, very complicated and when the risk of a euro zone break-up, or at least its very problematic functioning, is very real, despite all that, Estonia will become a new member in January."

"In the discussion of finance ministers on Sunday evening I very clearly defined what Slovakia's reservations are. One of them was that we do not agree that this step be connected with pressure on Ireland to raise taxes." [ID:nPRG004521]

GUIDO WESTERWELLE, VICE CHANCELLOR, GERMANY

"Unlike as in the Greek case initially, we now (with Ireland) have an instrument and are prepared to react.... I see no danger of contamination, because each case is different." [ID:nLDE6AN059]

RAINER BRUEDERLE, ECONOMY MINISTER, GERMANY

"(The situation) is certainly serious but I don't see the euro in danger." [ID:nLDE6AN1DD]

(Compiled by Jan Harvey)