(Reuters) - Following are comments by euro zone ministers and officials after a meeting of the 16-nation European single currency area in Brussels on Tuesday.
KLAUS REGLING, HEAD OF THE EUROPEAN FINANCIAL STABILITY
FACILITY (EFSF)
On how fast financial support could be provided:
"Quickly means within days, so after a request if accepted by the Eurogroup we would go to the market within days and raise funds within five to eight working days.
"The amounts would, of course, depend on the specific circumstances, so that's impossible to say today. It would depend on what are the results of the work that would have to be done by the European Commission together with the ECB and the IMF.
"They would go to a country, analyze the situation and determine the funding needs -- the financing gap -- and then it would be decided how over what period of time to disburse.
"There would be tranches probably once a quarter, like in the case of Greece. So it all depends on the circumstances. But as I said earlier I'm confident that we would have no problem finding the necessary resources to meet these demands."
EU ECONOMIC AND MONETARY AFFAIRS COMMISSIONER OLLI REHN
On euro zone stability:
"...This evening I was relieved to perceive a sense of unity and responsibility among the finance ministers and their strong determination to safeguard the financial stability of the euro area.
"Every nation is responsible for its own economic sustainability, but we must collectively defend the financial stability of the EU as a whole, when it is at stake."
"This is a time for cool heads and clear determination to take the necessary steps to at the EU level and in each and every member state."
On the situation in Ireland:
"I expect the four-year fiscal plan to be presented soon and next year's budget to be convincing.
"I had very good discussions last week in Dublin for two days and I am certain that the Irish government and parliament will meet the necessary fiscal targets and thus put the public finances on a sustainable path.
"In this context, the Irish authorities are committed to working with the Commission, with the ECB and the IMF, to determine the best way to provide any necessary support to address market risks, especially as regards the troubled banking sector."
FINNISH FINANCE MINISTER JYRKI KATAINEN:
"We agreed that Ireland start consultation with the commission, the IMF and the ECB. Ireland has not asked for help, but consultation will start immediately.
DUTCH FINANCE MINISTER JAN KEES DE JAGER
"Are we ready when necessary to activate the EFSF and EFSM (European Financial Stability Mechanism)? Yes, we are. If any country asks for this mechanism, we are ready to stand (up) for stability in the euro zone.
"This week there will be an assessment of a team of specialists of the IMF, ECB and (European) Commission. We will follow all the developments and then we will have a look, and Ireland foremost -- they will have a look. And if it is necessary, the mechanism is ready. If there is an application from any country, the mechanism is ready."
EUROGROUP CHAIRMAN JEAN-CLAUDE JUNCKER
"We particularly welcome the announcement by the Irish authorities that their 4-year budgetary strategy will involve a 6 billion front-loading in 2011 on a total consolidation effort of 15 billion.
"We have full confidence that the strategy to be announced at the end of the month will be thorough and detailed and will thus allow us to have full faith in dealing with the deficit by 2014 and a public debt ratio that is considerably lower...
"This budgetary adjustment should allow Ireland to return to strong, sustainable growth while improving the economic and social position of the government of Ireland. However, we invite the Irish authorities to include an annual review in their strategy. This will allow them to cope if necessary with expectations of a less favorable macroeconomic development, were they to arise.
"We welcome the measures that they may be taking to deal with issues in the banking sector by guarantees, recapitalization and asset segregation. These measures have already helped to support the Irish banking sector at the worst of the crisis. However, market conditions have not normalized yet and residual pressures remain, and this therefore gives rise to concerns that further reform and further stabilization measures might be appropriate.
"We welcome the determination of the Irish government to engage in a short and focused discussion with the Commission, the ECB and the IMF in order to determine the best way to provide full and necessary support to address market risks, in particular as regards the banking sector in the context of a four-year budgetary plan and the upcoming budget.
"We confirm that we will take action as the Eurogroup... in a determined and coordinated manner to safeguard the financial stability of the euro area if that is needed. And we confirm that we have the means available to do so.
"The discussions that will take place between Ireland and the Commission and the ECB and the IMF will enable us to have at our disposal all the elements and instruments we need were Ireland to make a request for assistance to the EU, the IMF and the Eurogroup."
