Mr Rehn said the European Commission was working hard to bring about a solution.
Olli Rehn, the EU's economics commissioner, and Mario Monti, Italy's prime minister, have publicly voiced concern.
ECONOMIST: Once again, Spain is on the front-line of the euro crisis
Although less obvious, Rehn outlined how the project wanted to engage with more than just developers.
Rehn said he believes Dean's uniqueness still gives him an outside chance to win the nomination.
In a moment of candour the EU Economics Commissioner, Olli Rehn, said "there is no magic bullet".
Worse, as EU Commissioner Ollie Rehn admitted, is that Cyprus is heading into an even deeper recession.
"I think one of the biggest things with Dean was that his message was different, " Rehn said.
And EU economics commissioner Olli Rehn said more austerity was needed if the eurozone was to avoid disintegration.
"Growth has stalled in Europe and there is a risk of a new recession, " said European Commissioner Olli Rehn.
The EU's Economics Commissioner, Olli Rehn, said "the near future will be very difficult for the country and its people".
On Nov. 9, Olli Rehn, the European Union's economy commissioner, relayed a stern warning from Mr. Trichet to Irish politicians.
Mr Rehn talked down the idea of European states issuing joint bonds, saying that austerity and closer co-operation were needed.
Not much more than Spain has already signed up to, according to Olli Rehn, the European commissioner for economic affairs.
The EU's Monetary Affairs Commissioner Olli Rehn yesterday was pepping up MEPs for the great eurozone drama that lies ahead.
"Major policy decisions have laid the foundation for strengthening confidence, " said the Commission's vice-president for Economic and Monetary Affairs, Olli Rehn.
To catch both Mr Borg and Mr Rehn in their current jobs, an application must go in by April at the latest.
Commissioner Rehn said that national decisions have an impact beyond national borders.
Mr. Noonan, who was sitting next to Mr. Rehn at the news conference that followed a European Union finance ministers' meeting, nodded.
"Anything is always possible, " said Glenn Rehn, a junior from Geneseo, Illinois.
Olli Rehn, the EU's current enlargement chief, likens the EU accession process to a journey that matters as much as the destination.
Olli Rehn, European Commissioner for Economic and Monetary Affairs, said today that he thought the European economy may be bottoming out.
Olli Rehn, the EU economic policy commissioner, has repeatedly said the island's bank problems pose risks of a "systemic nature" to the euro zone.
Whereas Mr Rajoy insists on being told the conditions first, Mr Rehn says a country must ask for help before these are worked out.
"We are confident that all euro area member states will ratify the agreement, " said a spokesman for Olli Rehn, the EU head of monetary affairs.
The European commissioner for enlargement, Olli Rehn, is a strong ally.
Possible contenders include Carl Bildt, Sweden's foreign minister, who says he does not want the post, and Olli Rehn, the Finnish enlargement commissioner, who probably does.
We debated all this on the Today programme this morning, with former Italian Prime Minister Romano Prodi and the EU commissioner for monetary affairs, Olli Rehn.
The EU Economic and Monetary Affairs Commissioner, Olli Rehn, has already warned that Hungary could face a suspension of EU cohesion funds - support for regional projects.
The other hosts include Jim Steinberg, America's deputy secretary of state, who was also a figure in the Dayton talks, and Olli Rehn, the EU's enlargement commissioner.
So, at the BBC World debate, I asked the European Commissioner, Olli Rehn, whether that was on the cards - and if so when it would happen.
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