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EU solidarity called for to help Greece

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EU solidarity called for to help Greece


As Greece grapples with its fiscal crisis, the rest of the European Union appears to be divided over how to help the cash strapped country.

Ahead of an EU summit later this week, Commission President Jose Manuel Barroso has urged the bloc to unite and agree on the mechanism for financial assistance, should Athens ask for it.

But Germany’s Chancellor Angela Merkel, who is leading the opposition to any Greek bailout, says the country’s own austerity measures are the way for it to resolve its problems
She later said she had no intention of discussing monetary aid for Greece at the Brussels meeting.

However, France Italy and Spain want the euro-zone to show solidarity. Talk of potential International Monetary Fund intervention has been rejected by Paris as a sticking plaster remedy and wants more emphasis put on bilateral loans.

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