Angela Merkel agrees on Greece rescue package – but wants new euro rules
• EU summit pledges loan and IMF aid package
• German leader pushes for tougher currency regime
Germany's chancellor, Angela Merkel, agreed for the first time yesterday on a "last-resort" rescue package for debt-stricken Greece,
while pushing for a tough new regime of sanctions and penalties against
European single currency countries whose fiscal misconduct endangers
the euro.
Prodded
by Merkel and the French president, Nicolas Sarkozy, the 16 countries
using the single currency agreed a mixture of bilateral European loans
and International Monetary Fund help for Greece if it finds itself
facing default, unable to refinance its ballooning debt.
http://www.guardian.co.uk/business/2010/mar/25/angela-merkel-greece-package