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Greek rescue plan takes shape ahead of EU summit
Published in Saudi Press Agency on 23 - 03 - 2010


The outlines of a possible bail-out
plan for Greece organized by eurozone states and the International
Monetary Fund (IMF) began to take shape today as eurozone leaders
called for an emergency meeting ahead of an EU summit this week, according to dpa.
The 16 states of the eurozone are deeply divided over how to react
if Greece risks defaulting on its debts, but are desperate to reach a
deal so that they do not undermine their own appearance of unity.
The timing of a possible agreement - immediately ahead of an EU
summit which starts on Thursday - emerged in Paris after talks
between French President Nicolas Sarkozy and Spanish premier Jose
Luis Rodriguez Zapatero.
"We have agreed to request a meeting of the heads of state and
government of the eurozone just before the European Council (summit
on Thursday)", Sarkozy said.
Zapatero, whose country faces budget difficulties which have been
compared with Greece's own problems, said that the eurogroup "must
help Greece to move forwards."
The possibility of a Thursday euro-summit was confirmed by the
office of the permanent president of the council of EU member states,
Herman Van Rompuy.
"It's possible that there will be a gathering of the members of
the eurogroup before the start of the summit," acknowledged Dirk De
Backer, Van Rompuy's spokesman. Van Rompuy suggested such a eurogroup
meeting at talks with EU diplomats on Monday, he said.


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