EU ready to propose 'framework' to help Greece
15 Mar 2010
European Union leaders look set to propose a 'framework' to help Greece overcome its debt crisis.
Economic and Monetary Commissioner Olli Rehn told reporters that the European Commission is "ready to table a proposal for a coordinated framework for coordinated and conditioned assistance."
"I would expect that Europe would endorse the assessment of the Commission on Greece's bold set of measures which would mean that Greece is on track to meet the 4 percent target of deficit reduction this year."
"We will also discuss how to safeguard financial stability in the euro area as a whole," he added.
Euro zone finance ministers today gathered for a two-day meeting in Brussels to discuss Greece's debt crisis.
However, Germany's Finance Minister Wolfgang Schaeuble and France's Christine Lagarde both said over the weekend that they do not expect any definite decision to be made today or tomorrow.
Lagarde added that Greece had "delivered enormously" with its austerity steps.
