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EU's Juncker: European aid mechanism may be needed


    MADRID (Reuters) - The European Union may have to establish a mechanism to help out countries with financing difficulties after a 30 billion euro aid package agreed for Greece last weekend, Jean-Claude Juncker, chairman of the Eurogroup of finance ministers, said in a newspaper interview on Thursday.

    "We have resorted to these loans (for Greece) because there was no other solution within the European Treaty. For the future we will have to install a European mechanism without allowing some member states to relax and not balance their books," Juncker was quoted as saying in an interview with Spanish newspaper Expansion.

    "Nor is a change in the Treaty ruled out," he added.

    Juncker also described the Greek aid program as "credible."

    (Reporting by Elisabeth O'Leary; Editing by Kim Coghill)