Tags: EU | Europe | Financial | Crisis

Officials: Next 24 Hours Crucial as EU Weighs Greece's Fate

Wednesday, 10 Feb 2010 09:24 AM

European Union governments are negotiating plans to rescue Greece if it nears a disastrous default on its debt, after investor worries over its shaky finances sent stock markets and the euro in a downward spiral.

Analysts say EU nations could offer loan guarantees or financial assistance from countries that want to help, and that Germany and France could play a leading role.

But officials speaking on background said no final decisions have been made and that talks in the next 24 hours would be crucial.

They said they could not "exclude or include anything."

EU finance ministers were to hold emergency talks by video conference Wednesday, the European Commission said, while Greek Prime Minister George Papandreou was in Paris for talks with French President Nicolas Sarkozy and was to visit Brussels in the evening.

EU leaders are meeting Thursday with the European Central Bank's president Jean-Claude Trichet to talk through options.

They will then issue a statement on the debt crisis.

"It will be like the weather, between today and tomorrow things can change," one official said.

He could not be identified because of the sensitivity of the issue.

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European Union governments are negotiating plans to rescue Greece if it nears a disastrous default on its debt, after investor worries over its shaky finances sent stock markets and the euro in a downward spiral.Analysts say EU nations could offer loan guarantees or...
EU,Europe,Financial,Crisis
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2010-24-10
Wednesday, 10 Feb 2010 09:24 AM
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