EU President confirms commitment to help Greece

EU President Herman van Rompuy on Wednesday confirmed the bloc’s commitment to providing financial assistance to Greece if the country fails to raise the money it needs from bond markets.

Rompuy told the European Parliament that EU member states are “ready” to offer bilateral credits.

At the same time, he added, it would be unusual not to take advantage of the IMF’s help because the fund is heavily financed with European money. Eurozone members agreed last month on a bailout plan for Greece, announcing the funds will be given only if necessary and at interest rates that are higher than the Eurozone average.

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