Regling: Eurozone in no danger from debt crisis

The head of the European Union's multi-billion euro bailout fund has said there is no danger of the eurozone collapsing because of the debt crisis.

Klaus Regling said it is "unimaginable" that the euro could fail and no country would leave the eurozone of its own free will.

Mr Regling said for weak countries, that would be "economic suicide".

He also moved to address concerns that the EU bailout fund could run out if the Irish debt crisis spreads to other eurozone nations.

Mr Regling said the safety umbrella is "big enough for everyone" and acknowledged that there is uncertainty as to whether the crisis could spread to other countries.