EU leaders pledge to help Greece

12/02/2010

BRUSSELS, Belgium -- Eurozone leaders promised Thursday (February 11th) to help Greece overcome its severe financial crisis but stopped short of offering financial assistance. Instead, they will ask the EU finance ministers to offer specifics when they meet early next week. Bloc leaders in Brussels vowed to "take determined and co-ordinated action, if needed, to safeguard financial stability in the euro area as a whole". They also asked Athens to honour its commitment to cut its deficit by 4% this year, voicing support efforts to fully implement the cost-cutting programme.

Afterward, Greek Prime Minister George Papandreou said his government is ready to take additional measures to deal with the huge deficit, which ballooned to 12.7% of GDP last year. (ANA-MPA, UPI, BBC, AFP - 11/02/10)

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