Posted by
Defend America on Friday, February 12, 2010 4:50:47 PM
Angela Merkel dashes Greek hopes of rescue bid
German chancellor refuses to rescue Greece's ailing economy amid Berlin's domestic austerity
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Ian Traynor
-
guardian.co.uk,
Thursday 11 February 2010 20.39 GMT
Angela Merkel, the German chancellor, mounted stiff resistance
tonight to any swift bailout of Greece, as a rift opened up between
European capitals over how best to tackle the risks posed to the euro.
Despite
a show of Franco-German unity on the crisis and the first statement
from EU leaders pledging to safeguard the currency's stability, hopes
on the markets of a German-led rescue plan to shore up Greece's
critical public finances were dashed by Merkel, who repeatedly
emphasised that Athens would need to put its own house in order and
brushed aside all questions of financial support.
"Germany is
stepping totally on the brakes on financial assistance," said a senior
EU diplomat. "On legal grounds, on constitutional grounds and on
principle." Another senior diplomat said of the Germans: "They're not
waving their chequebooks."
An EU summit of 27 government chiefs
in Brussels was the first opportunity to tackle the Greek crisis and
also send a strong message to the financial markets, which have been
betting against the euro for the last week.
http://www.guardian.co.uk/theguardian/2010/feb/11/germany-greece-merkel-bailout-euro