Sunday, August 26, 2012

Greece not lost, say Merkel and Hollande

Chancellor Angela Merkel said Germans were ready to help Greece “as much as we can” on Friday, but declined to support a Greek plea for more time to implement austerity measures and pay back eurozone loans.
Ushering in weeks of tense talks about the future of the southern European country, Ms Merkel was at pains to stress Berlin had not written off Athens’ membership in the single currency, despite a summer of frustration over a lack of progress in Greece, and the resulting fiscal slippage in its adjustment programme.
“I want Greece to remain part of the eurozone,” she said, promising that Germany would “remain as helpful as possible” provided Athens stuck to its pledge to implement sweeping political reforms.
“We need a bit more breathing space,” Antonis Samaras, Greek prime minister said during a visit to Berlin. “We are a proud nation and do not like having to rely on other people’s money.”
Mr Samaras stressed his determination to fulfil the reform pledges made at the start of the year and said any speculation about Greece’s exit from the eurozone was “toxic”.
President Francois Hollande also underscored France’s concern to keep Greece in the eurozone after meeting Mr Samaras at the Elysee palace in Paris on Saturday morning.

Read more: http://www.ft.com/intl/cms/s/0/b97287a0-ee02-11e1-b0e4-00144feab49a.html#axzz24eSvAuXo

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