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EU Comm: Not Aware Of Any EMU Firewall Plan For Greece

BRUSSELS (MNI) - The European Commission is not aware of firewalls being contemplated to stop contagion from Greece's debt woes spreading to other eurozone countries, a spokesman for the new European Commissioner for Economic and Monetary Affairs, Olli Rehn, said on Wednesday.

"I am not aware of firewalls being contemplated as an issue," Amadeu Altafaj Tardio told reporters in a press briefing. His remarks conflict with numerous press reports circulating around Europe in the last 24 hours.

Earlier today, a high level EU diplomatic source said, "We need to build a firewall for the euro zone."

Other reports, including in the Financial Times, have said that a firewall is being considered.

Speculation about a European solution for Greece is mounting ahead of an informal summit of leaders from the European Union's 27 member states in Brussels Thursday.

The Commission spokesman said that coordination and monitoring of the situation on Greece was essential and that he understood there was an informal video conference later Wednesday among eurozone finance ministers, and that Rehn would be taking part in it.

"This is not the format that we are used to, I would say," he said.