Open

Coming up

Don't miss

Replay


LATEST SHOWS

THE WORLD THIS WEEK

The World This Week - 18 April 2014

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014 (part 2)

Read more

MEDIAWATCH

Presidential adviser resigns over "shoe-shine scandal"

Read more

#THE 51%

Breaking stereotypes

Read more

#TECH 24

Galaxy S5 v. HTC One (M8): Which is the right one for you?

Read more

FRANCE IN FOCUS

New PM Manuel Valls outlines priorities

Read more

FASHION

Jean-Marc Loubier, bags and shoes.

Read more

ENCORE!

Hip-hop musician Beat Assailant on mixing the sounds of the city

Read more

REVISITED

In Prijedor, survivors fight to keep memory alive

Read more

  • Bouteflika, the ghost president

    Read more

  • Algeria's ailing Bouteflika clinches fourth term amid fraud claims

    Read more

  • Does Valls’ upcoming Vatican trip violate French secularism?

    Read more

  • Ukraine separatists say ‘not bound’ by Geneva deal

    Read more

  • Abel Ferrara’s hotly awaited DSK film to premiere on web

    Read more

  • World honours Garcia Marquez’s magical literary legacy

    Read more

  • Ukraine: ‘One bloody incident could scupper Geneva deal’

    Read more

  • Top Hollande adviser resigns over conflict of interest accusation

    Read more

  • Police seek arrest warrant for South Korea ferry captain

    Read more

  • Indian election: Votes for sale

    Read more

  • West African Ebola outbreak caused by new strain of virus

    Read more

  • Astronomers discover Earth-like planet that could support life

    Read more

  • Video: Tensions remain high in Mariupol despite Geneva deal

    Read more

  • In Prijedor, survivors fight to keep memory alive

    Read more

  • Deadly avalanche strikes Everest in worst-ever disaster

    Read more

  • With a strong French presence, veterans and fresh faces, Cannes aims to please

    Read more

  • Russia and West agree on steps to ease Ukraine crisis

    Read more

  • Mob launches deadly attack on UN shelter for S. Sudan civilians

    Read more

  • Eurostar train mishap causes 'severe' delays

    Read more

  • Chelsea Clinton announces she's pregnant

    Read more

  • French troops free five aid workers kidnapped in Mali by Islamists

    Read more

  • In pictures: Iranian woman pardons son’s killer at the gallows

    Read more

  • After cup defeat, Spanish pundits read last rites for Barcelona

    Read more

  • India heads to polls in single largest day of voting

    Read more

  • Ukraine talks open in Geneva as Putin talks tough on TV

    Read more

Europe

Greek rescue plan is 'guarantee of solidarity', says Eurogroup chief

©

Text by FRANCE 24

Latest update : 2010-03-27

In an exclusive interview with FRANCE 24, Eurogroup President and Luxembourg Prime Minister Jean-Claude Juncker discusses a joint plan by the euro zone and the IMF to offer assistance to debt-saddled Greece.

“We won’t let Greece fail,” Jean-Claude Juncker told FRANCE 24 on Friday, a day after euro zone countries announced an agreement to provide economic aid to debt-ridden Greece. The head of the 16-member Eurogroup insisted that the deal handed Greece a “guarantee of solidarity”.

“I would like the markets to take note of this guarantee,” he added.

However, Luxembourg's leader said he believed Greece would "not need to use this package because it ha[d] adopted a real cut-back plan”.

Greek Prime Minister George Papandreou unveiled an austerity plan earlier this month that included a series of budget-reducing measures, such as a scale back of public worker’s wages, tax hikes and a freeze on pensions.

Under the terms of the EU agreement signed on Thursday (after a long and at times heated standoff), Greece is entitled to access financial aid from the euro zone and the International Monetary Fund (IMF) if its austerity measures fail to re-balance the country’s economy. The rescue plan, brokered by France and Germany, is based primarily on bilateral loans and is supplemented by IMF assistance.

It also includes a commitment to strengthening fiscal discipline in the EU; a key condition set by German Chancellor Angela Merkel.

The 'common sense' fuel emissions tax

After the announcement of the accord, the common European currency rebounded slightly against the dollar to just over $1.33.

Earlier in the week, the euro hit its lowest exchange rate in 10 months.

Jean-Claude Juncker said he was not worried about the possibility of a domino effect as the result of the troubled financial situations of Ireland, Spain, Italy and Portugal. “I see no similarity between the situation in Greece and in these countries,” he said.

In his interview with FRANCE 24, Juncker also said he backed French President Nicolas Sarkozy’s proposal for a Europe-wide tax on fuel emissions, or “carbon tax”.

”I support the idea that Europe needs to consider the introduction of a carbon tax at its borders”, Juncker said.

The French government announced earlier this week it was dropping plans for a carbon tax, claiming it could not be applied without the introduction of comparable levies across Europe on imports from countries reluctant to reduce their greenhouse gas emissions.

 

Date created : 2010-03-27

  • EUROPEAN UNION

    Eurozone leaders agree on rescue package for Greece

    Read more

Comments

COMMENT(S)