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EU exec to put Greek plan to finmins



By Jan Strupczewski
15 March 2010 @ 05:17 pm BST

She said Greece had "delivered enormously" with its austerity steps, which include promised spending cuts equal to 2 percent of gross domestic product.

On Saturday, Britain's Guardian newspaper quoted sources as saying the meeting would agree up to 25 billion euros of support. A senior EU source said that was not on the table.

The German government spokesman said Monday's meeting would also not get into the details of funding for a European Monetary Fund, an idea that has been proposed by Berlin as another measure to help protect euro zone countries with debt troubles.

Discussing reforms needed to shore up the group's rules, German Finance Minister Wolfgang Schaeuble reiterated that it should eventually be made possible, in extreme cases, for a state to leave the euro zone if it fails to manage its finances.

"We need tighter rules," he told daily Bild. "That means in an extreme case, the possibility that a country that does not get its finances in order at all leaves the euro group. Such a prospect alone would ensure a totally different kind of discipline."

(Writing by Luke Baker, editing by Patrick Graham)

© 2010 Thomson Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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