10/10/2011 17:56
Greece welcomes Merkel, Sarkozy plan
Greece welcomes the project Angela Merkel and Nicolas Sarkozy proposed.
German Chancellor Angela Merkel insisted on Friday the euro zone rescue fund should only be used to prop up banks as a last resort, ahead of a weekend meeting with French President Nicolas Sarkozy at which they are expected to thrash out how to strengthen the region's banks, the Reuters reports.
The 440 billion euro European Financial Stability Facility (EFSF) has been redesigned to help banks and buy up government bonds in an effort to beef up Europe's crisis fighting response.