France has promised to help Greece get through its economic crisis.
Greek Prime Minister George Papandreou was in Paris as part of his four-day European tour to secure aid for his struggling country. There, French President Nicolas Sarkozy assured him that France would stand by Greece and crackdown on speculators, who are making the financial situation worse.
Standing alongside Papandreou, Sarkozy said:
“Today, Greece does not have a need for financial aid. Greece has shown that it is capable of regaining its credibility through its own efforts. But I want to be very clear. If necessary, the member states of the eurozone will fulfil their commitments. There can be no doubt on this.”
Austerity measures proposed by the Greek government have caused riots throughout the country. Some 4.8 billion euros worth of spending will be cut through wage freezes and pension reforms – all in the hope of reducing the double-digit budget deficit.