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Europe

Eurozone finance ministers agree to Greece rescue plan

Text by News Wires

Latest update : 2010-03-16

Eurozone finance ministers meeting in Brussels say they have agreed to a financial rescue plan for debt-ridden Greece, but their announcement remains distinctly short on detail.

AFP - Eurozone finance ministers Monday agreed the means through which partner countries can "rapidly" help Greece plug gaps that may emerge in its battle to control its finances, their leader said.
   
"We have clarified the modalities that will allow us to take coordinated action," said Luxembourg Prime Minister Jean-Claude Juncker who also heads the Eurogroup of 16 countries after five hours of talks "essentially" concerned with Greece.
   
The plans "can be enacted rapidly," Juncker stressed, although the decision to step in would have to be taken by the 27 national leaders of the European Union, who meet next week in Brussels.
   
Juncker "underlined that the Greeks have not asked for aid" and said the ministers "still don't think it will be necessary," but explained that "technical preparations" would be completed over the "next few weeks."

Date created : 2010-03-15

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