Thursday, 18 March 2010

Split appears on IMF aid to Greece
Three eurozone members are increasingly veering towards supporting a direct application by Greece to the IMF, the Financial Times reports. Italy, Finland and the Netherlands are apparently supportive of IMF emergency intervention in the euro area - something that France and Germany consider a loss of credibility to the euro currency and the European project.

Greek Prime Minister Yiorgos Papandreou said on Wednesday that an application to the IMF was still on the cards, but he hoped for a European solution after meeting with European Commission President Jose Manuel Barroso.

On Tuesday Papandreou had expressed some disappointment that the Eurogroup, meeting the previous day, had "taken a step forward, without reaching a final decision." He made the remark in a joint press conference with Hungarian Premier Gordon Bajnai in Budapest.

Today Papandreou will address the European Parliament on the economic and financial crisis. 

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