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EU ministers meet again over Greek crisis

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EU ministers meet again over Greek crisis


Greek premier George Papandreou wants the European Union to do more to support his cash- strapped country.

As, once again, eurozone states meet today to discuss Greece’s budget crisis, Papandreou says his country cannot act alone to solve its problems.

But Athens has been told by the European Central Bank that it must first tighten up its own audit procedures as the EU monitors Greece’s recovery plan but without offering any bail-out.

A raft of stringent public sector cuts aims to reduce the country’s deficit from over 12 per cent of GDP to just under nine per cent. But most Greeks fear this will lead to more social unrest. Evidence of that has already been seen on the capital’s streets.

EU ministers have said that today’s discussions will look into a series of exceptional measures designed to help. But the emphasis is on taking coordinated action, if needed, to safeguard financial stability in the euro area as a whole.

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