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EU divided on helping Greece

2010-03-25 13:05 BJT


On the eve of the European Union summit in Brussels, the European Commission is urging member states to find a solution for Greece's problems, in the form of a safety net in case it needs financial help.

Greece says it will need European or IMF assistance if markets keep imposing painfully high borrowing costs.

Euro zone countries are holding a debate as to whether the 16-country group or the IMF should offer Greece helps.

However, agreement remains elusive as the EU summit approaches.

European Economic and Monetary Affairs Commissioner Olli Rehn addresses a news conference on 2010 Updates of the Stability and Convergence Programmes, in Brussels March 24, 2010. REUTERS/Thierry Roge
European Economic and Monetary Affairs Commissioner Olli Rehn
addresses a news conference on 2010 Updates of the Stability
and Convergence Programmes, in Brussels March 24, 2010.
REUTERS/Thierry Roge