EU wants Greece to survive without IMF funds

Middle East News.Net
Friday 19th March, 2010

Greece's financial prospects have taken another bad turn with suggestions that Athens might ask the International Monetary Fund for aid early next month if it cannot get a formal aid plan from the EU.

The Greek government has signalled it will look to the IMF if clear support doesn't emerge at a March 25th summit of European Union leaders.

On Thursday, the euro, which had pushed higher due to the vague support shown from euro-zone finance ministers earlier this week, retreated against the dollar.

Greek government bonds also lost ground.

European officials have been widely seen as opposed to an IMF bailout of Greece, seeing it as an embarrassing failure for the euro zone.

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