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Mr Rehn, who as commissioner for economic and monetary affairs has played a central role in formulating the EU response, has gained an international reputation as one of the more steady hands in the occasionally chaotic management of the crisis.
In a written statement, Mr Rehn said he spent much of the summer deliberating before deciding he could not both serve in Brussels and run as a candidate. “My tasks in Europe are still very much unfinished [and] I am committed to the ongoing work to overcome the sovereign debt crisis”, he said. Mr Rehn said he was tempted to run to “defend my views on the international orientation” of Finland, a clear reference to the ongoing debate over Europe, but said his current job was important for his home country as well.
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