updated 1/27/2014 10:16:27 AM ET 2014-01-27T15:16:27

ROME (Reuters) - The European Union and the common euro currency are stronger than they were a year ago and much better positioned to resist any shocks stemming from a currency crisis in Argentina, Italian Prime Minister Enrico Letta said on Monday.

"The troubles in Argentina today find a European Union that is much more solid, and a euro that is much more solid, and a better ability to deal with this kind of concern," Letta told a press conference in Rome.

The value of the peso plunged in recent days, causing turbulence in wider emerging markets, after the Argentine government altered restraints on its currency market.

(Reporting by Naomi O'Leary)

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