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ECB's Kranjec backs rescue of Fortis

Mon Sep 29, 2008 5:05am EDT

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RIGA, Sept 29 (Reuters) - The rescue of Fortis (FOR.BR) by the authorities of Belgium, the Netherlands and Luxembourg was the best course of action to take, European Central Bank Governing Council member Marko Kranjec said on Monday.

"Of course it is a good idea. What else could you do if you want to avoid a very unstable market, financial markets, in the euro zone? I think this is the only possible option," Kranjec, head of the Slovenian central bank, told reporters at a Baltic banking conference. (Reporting by Patrick Lannin; editing by David Stamp)



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