EU signals last-resort backing for Greece

The European Union made clear on the 28 January 2010 it would not abandon Greece and let Athens’ mounting debt crisis jeopardise the eurozone, even as Germany and France played down suggestions they had already formulated an emergency rescue plan.

George Papandreou, the Greek Prime Minister insisted on the 29 January 2010, that Greece was prepared to 'draw blood' with domestic reforms to establish its financial credibility and is not contemplating external help in case its deficit reduction plan fails.

BBC News, 2.2.10: Greece 'should not get bail-out' http://news.bbc.co.uk/1/hi/business/8494187.stm

Deutsche Welle, 28.1.10: Euro zone said to mull Greek financial rescue package http://www.dw-world.de/dw/article/0,,5178177,00.html

France24, 28.1.10: Greek PM denies bailout reports and hits out at speculators http://www.france24.com/en/20100128-greek-pm-papandreou-speculators-debt-high-eurozone-bailout-economy-markets

EurActiv, 29.1.10: Greece rejects bailout as eurozone worries grow http://www.euractiv.com/euro-finance/greece-rejects-bailout-eurozone-news-242678

ESO: Background information: Fiscal woes raise fears over euro http://www.europeansources.info/record/fiscal-woes-raise-fears-over-euro/

BBC News, 28.1.10: Davos 2010: Greece denies a bail-out is needed http://news.bbc.co.uk/1/hi/business/8485586.stm

BBC News, 29.1.10: Davos 2010: Mounting fears over Greek public finances http://news.bbc.co.uk/1/hi/business/8487519.stm

Kathimerini, 29.1.10: Downside of being rescued http://www.ekathimerini.com/4dcgi/_w_articles_columns_100018_29/01/2010_114454

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