EC's Dombrovskis Speaks Out About Portugal, Greece, Italy
European Commission Vice President Valdis Dombrovskis discusses a number of issues concerning Europe with "On the Move" host Guy Johnson, beginning with Friday’s review by DBRS Ltd. of Portugal's only investment-grade rating. On Greece, he said "We are ready to work very closely with IMF and Greek authorities" to work on legal form for contingency measures." On Italian banks, Dombrovskis said Italy’s Atlante bank-rescue fund is "an important step in the right direction." He said he believes the European Commission sees the fund as fully private initiative that does not entail state aid "We are in a consultation phase with Italian authorities, but our own assessment is that they have made substantial progress addressing the non-performing loans issue."