Eurozone to agree Greek safety net

Article reports that Eurozone finance ministers hoped to reach agreement on the 15 March 2010 on how to support Greece if it failed to refinance its debts.

Proposals included direct loans from individual governments and a system of loan guarantees, all tied to strict Greek observance of fiscal discipline and implementation of structural economic reforms.

However, ministers of the 16 nations were not expected to make an explicit offer of aid, partly because Greece had made no request and partly because its fiscal outlook is regarded as less threatening than in late January and February 2010.

Deutsche Welle, 13.3.10: EU ministers map out Greek rescue plan http://www.dw-world.de/dw/article/0,,5350175,00.html

ESO: Background information: Schäuble calls for tough EMF sanctions / Why Europe’s monetary union faces its biggest crisis http://www.europeansources.info/record/schauble-calls-for-tough-emf-sanctions-why-europes-monetary-union-faces-its-biggest-crisis/

BBC News, 13.3.10: EU close to Greece bail-out deal, officials say http://news.bbc.co.uk/1/hi/world/europe/8565623.stm

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