emg home
Albania makes EUR 60 million profit from electricity sale Serbia urges Greece to extradite suspect Montenegro to hold local elections on May 23rd Europe rocked by Greece, Portugal debt fears Traian Basescu: Romania's goal - an assistance accord with IMF, after the crisis ends FYRMacedonia to initiate duty-free trade with Russia U.S. Ambassador expects progress from Gruevski-Papandreou meeting Greece: Tourist arrivals at 2009 levels Greek foreign policy of open horizons HAU appeal to CoS over ministry decision to close school Pack tells Dodik his behaviour harmful to all in Bosnia Ryanair plans to open direct link with Plovdiv Kuwait iInvestors eye Bulgaria Black Sea Highway Greek-Bulgarian borders: Fuel turnover up 5-10% Bulgaria: Tripartite council reaches agreement on stimulus measures 22% VAT in Bulgaria only possible in reforms package Indisputable role of some reporters in war crimes One in five Serbian tourists flies low-budget airlines Israeli KAVIM to buy remaining shares of AUTOPREVOZ Trayal expects to sign deal with FIAT in June Delta Maxi to invest EUR 15 mln in Montenegro Paracin glass factory secures exports deals EU diplomatic mission on a three-day visit to Serbia Pitic, Cupic the most serious candidates for the new NBS Governor Noted journalist Stevan Niksic dies at 64 Anniversary of start of NATO bombing of former FRY Thousands of citizens at a rally in Kosovska Mitrovica Next tranche of IMF credit to come at start of April Cvetkovic: TELEKOM should attract multiple bidders Dinkic to visit Vienna Tadic, Josipovic hint at out of Court settlement
RSS

News Archive

EU presidency wants Greek aid decision at summit

23. March 2010. | 09:36

Source: EUbusiness.com

The Spanish presidency of the European Union said on Monday it would push the bloc to agree on financial aid for Greece at a summit this week, despite reservations from EU powerhouse Germany.

The Spanish presidency of the European Union said on Monday it would push the bloc to agree on financial aid for Greece at a summit this week, despite reservations from EU powerhouse Germany.

"The Spanish presidency will work towards that," Spanish Foreign Minister Miguel Angel Moratinos told reporters before a meeting with his EU counterparts in Brussels.

"It is an important moment for the future of the EU and the euro," he said ahead of the two-day summit which starts Thursday.

"We will make every effort to give this trust, this solidarity that I think (Greece) deserves thanks to the measures that the government of (George) Papandreou has already taken," Moratinos said.

Greek Prime Minister Papandreou has urged EU leaders to agree on financial help for his heavily indebted country during the summit and warned that his government might be forced to turn to the International Monetary Fund instead.

European Commission chief Jose Manuel Barroso urged EU leaders on Friday to approve soon the creation of a financial aid mechanism for Greece to use if necessary, warning: "We cannot prolong any further the current situation."

He stepped up that effort in new comments on Monday, telling German daily Handelsblatt that "we need a decision at this summit so that we know how we are going to manage (the Greek crisis).

"Otherwise, deep uncertainty threatens to drag on for some time.

"We can't keep going this way, we risk endangering the stability of the eurozone and feeding speculation (on markets)."

Merkel said on Sunday that "raising false expectations" ahead of Thursday and Friday's gathering of EU leaders in Brussels would cause "turbulence" on markets.

The German government's reluctance to approve any aid to Greece reflects widespread unease among taxpayers, with a Financial Times poll showing on Monday that 61 percent of Germans oppose the idea of a bailout.

Greece, buried under a debt of 300 billion euros, has approved austerity measures to slash a runaway public deficit that is close to 13 percent of national output -- more than four times the limit allowed by the eurozone.

Share:

Del.icio.us
Digg
My Web
Facebook
Newsvine

Enter text:

<<

22. March - 28. March 2010.

>>