EurActiv.com Correspondent's Choice

This story about Eurozone aid for Greece was published by EurActiv on 8th March 2010.

French President Nicolas Sarkozy promised on Sunday (7 March) that eurozone countries would help Greece if its financial problems worsened. Meanwhile, German Finance Minister Wolfgang Schaeuble said he plans to make proposals soon on a new European institution to help ensure the stability of the euro zone.

Sarkozy was speaking after talks with Greek Prime Minister George Papandreou, who is looking to secure pledges of support from European capitals that will reassure markets and lower the debt-stricken country’s high borrowing costs.

“If Greece needs help, we will be there,” Sarkozy said at a joint news conference.

“The main actors on the European stage [have] decided to do whatever is needed to make sure Greece is not isolated,” he added, declining to give precise details of any aid plans but stressing that his economy minister was drawing up measures.

“Christine Lagarde, in tandem with her colleagues in the euro zone and in Europe […] is working on a certain number of precise measures if Greece needs them,” he said.

Papandreou met German Chancellor Angela Merkel and Luxembourg Prime Minister Jean-Claude Juncker on Friday. He had been hoping for specifics of a possible aid package and on Sunday told reporters he saw the outlines of a plan.

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