Thursday, 15 March 2012

EU haggles over safety net for Greece

Eurozone leaders will Thursday thrash out how to throw Greece a financial lifeline, with Germany demanding that aid has to be a last resort and must involve the International Monetary Fund.

Spain and Greece countered Germany's stance by calling on EU governments to use an existing euro50 billion ($67 billion) bailout fund to offer cheap loans to Greece or other struggling eurozone governments.

The euro currency was trading near a 10-month low as European Union leaders headed into a summit dominated by Greece's debt crisis. Athen's financial woes have undermined the euro and raised fears that the trouble will spread to other troubled euro governments such as …

No comments:

Post a Comment