Eurozone finance ministers to discuss Greek plan

15/03/2010

BRUSSELS, Belgium -- Eurogroup finance ministers are meeting in Brussels on Monday (March 15th) to discuss a plan in response to Greece's financial crisis. Sources quoted in media reports have suggested the EU is considering an aid package of around 25 billion euros. Not everyone is onboard however. Germany argues that Greece has been following an economic policy that violates EU standards. On Sunday, French Finance Minister Christine Lagarde said she expects no decision on a possible aid package to Greece at Monday's meeting. Three options for offering aid have been mentioned. The first would establish a European Financial Fund -- based on the IMF model -- that would be financed by EU members under the control of the European Commission. The second involves a special EU bond issue, and the third seeks assistance from the IMF. (ITAR-TASS, BTA, Guardian, Ethnos - 15/03/10; Reuters - 14/03/10)