EU will resque Greece in extreme cases
The European Union has made clear that Greece will not abandon and leave the growing crisis with the country’s obligations to endanger the eurozone, writes Financial Times. “It is clear that economic policies are not only a national issue, but also Europe, told reporters in Brussels, European Commission President Jose Manuel Barroso. According to senior EU officials in Greece last resort may receive emergency assistance from the governments of the euro area and by the EC, but without the participation of the International Monetary Fund. Euro zone countries and European authorities did not specify how Greece would help, since they fear that it will reduce pressure on Greece to cope alone with their problems and that would confuse an already turbulent financial markets. Immediate priority for the country to show that it is serious in its intention to reduce public spending, improve tax collection, to publish reliable financial and statistical data to deal with corruption, EU representatives stressed.
The Greek Prime Minister George Papandreou accused the “malicious forces” in putting the rumors that Athens sought funding in China and elsewhere. He stressed that Greece has demonstrated its ability to raise funds through bond issue for 8 billion, released Monday, which was strongly labeled.
Tags: EU, European Commission, European union, eurozone, extreme case, extreme cases, Greece