EU finance ministers ready to help Greece when time is right

17/03/2010

BRUSSELS, Belgium/BUDAPEST, Hungary/ATHENS, Greece -- EU finance ministers don't think the moment has come to provide financial assistance to Greece, Spain's Finance Minister Elena Salgado, whose country holds the EU's rotating presidency, said on Tuesday (March 16th) after a meeting of the ministers in Brussels. She added that they have agreed on a mechanism to help Greece in the short-term if such help is needed. According to sources in Brussels, the main dispute in the EU right now is when the moment of giving money to Greece would come. The Greek government itself has reiterated on numerous occasions that it does not want money but support for its austerity measures. EU Economic and Monetary Affairs Commissioner Olli Rehn said on Tuesday that Greece should deliver its mid-term budget perspectives plan for the period until 2012 by mid-May. He added that the European Commission will discuss on Wednesday a schedule for the introduction of the anti-crisis measures in Greece in 2010.

Separately, police scuffled with demonstrators in downtown Athens late on Tuesday in a civil servants' rally. Riot police had to use stun grenade to disperse the protestors who threw stones at them near the parliament building. The demonstration was attended by around 2,000 people. A similar rally was held in Thessaloniki. No incidents were reported there. (Canadian Press, ITAR-TASS, AP, Reuters - 16/03/10)