The aid will not be necessary by Barbora Misakova

When the Greece’s Prime Minister George Papandreou went to the United States to meet U.S. President Barack Obama, he believed that traders and speculators would be punished or they would be at least cracked down by the U.S. government. He didn’t forget to stress he is not asking for money or bailout, but just fair help. The question asking why he didn’t look for help in the European Union stayed unanswered. But maybe this question forced the European Union to save its black sheep without assistance of USA. Will be EU the Greece’s saver then? It is hard to say actually. Eurozone finance ministers agreed to help Greece in its battle to control its fina! nces, but their announcement remains distinctly short on detail. After a meeting in Brussels and four hours of talks, the finance ministers of the 16 euro-zone countries said they would help Greece if it is necessary. As said Luxembourg Prime Minister Jean-Claude Juncker: “We have clarified the modalities that will allow us to take coordinated action.” Financial ministers rather planed to plug Greece’s gaps to help it to control its finances, but the truth is they had ruled out any loan guarantees. The final decision to step in would have to be taken by the 27 national leaders of the European Union and they will meet next week in Brussels. But now is the statement done by Greek’s Prime Minister about not asking for bailout what men from Brussels rely on the most. Ministers “still don’t think [the aid] will be necessary.” Juncker said.

related story (sgx16764): http://www.france24.com/en/20100315-eurozone-finance-ministe...

by Barbora Misakova for Cantell TV (http://cantell.tv)

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