No need to discuss Greek aid at summit: Merkel

There is no need to discuss "emergency aid" for Greece at an upcoming EU summit, German Chancellor Merkel said.

No need to discuss Greek aid at summit: Merkel

There is no need to discuss "emergency aid" for Greece at an upcoming European Union summit because the Greeks have not asked for money, German Chancellor Angela Merkel said on Monday.

"We both stressed that Greece has not asked for us for money," Merkel said after meeting European Parliament President Jerzy Buzek in Berlin. "Therefore we don't have to discuss emergency aid (at the meeting)."

Merkel added that aid for Greece could only be granted as a "last resort" if the country was on the brink of insolvency, adding that this situation was "not there."

European leaders meet in Brussels on Thursday and Friday.

Worries about Greece's ability to meet its financial obligations have roiled markets and Merkel said the crisis showed the instruments available for enforcing budgetary discipline in the euro zone were not sufficient.

A "hard regime" was what was required, she added, noting that for Europe to be strong, it needed a stable currency.

Merkel, who faces an important regional election in May, is keenly aware that the German electorate overwhelmingly opposes a bailout for Greece and has hardened her line against the EU making a concrete pledge of financial support.

The chancellor added that the option of including the International Monetary Fund (IMF) in efforts to resolve the matter was something that should be "discussed further".

Buzek urged euro zone countries to show discipline.

"We can't have solidarity without responsibility," he said. "We should demand the same from Greece."

Reuters

Güncelleme Tarihi: 22 Mart 2010, 20:39
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