Greek Prime Minister urges EU to make stabilisation fund permanent

Greek Prime Minister George Papandreou said on Friday (June 11th) that a 440 billion-euro EU stabilisation fund should be made permanent in order to strengthen the regional economy. Speaking at a banking conference in Vienna, Papandreou supported the idea of “a new European monetary fund financed by contributions of eurozone members, proportionate to the size of their wealth”. The idea of the fund came from eurozone members in May, who proposed the huge aid package should remain in place for three years.