Greece formally requests activation of EU-IMF safety net

10:08, April 24, 2010      

Email | Print | Subscribe | Comments | Forum 

Finance Minister George Papaconstantinou on Friday formally requested activation of the European Union-International Monetary Fund support mechanism to pull Greece out of its severe economic and debt crisis.

Papaconstantinou sent a request letter to the EU Commission, the Eurogroup and the European Central Bank shortly after Prime Minister George Papandreou announced the government's decision to resort to the rescue solution instead of continuing to borrow from international markets.

"It is time that Greece will be supported by European partners and the International Monetary Fund," Papandreou said. "It is a national need to ask for the aid that will help us decisively to build again our boat with strong materials and send a message to international markets that we protect our common currency."

Greece's move came after a higher-than-expected 2009 budget deficit announced by Eurostat and a lowered bank credit rating by international rating agency Moody's.

Source: Xinhua

(Editor:祁澍文)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based eastday.com reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion