15 Sep '11, 3am

DTN Singapore: France, Germany back struggling Greece: PARIS: France and Germany said on Wednesday that they wer...

PARIS: France and Germany said on Wednesday that they were convinced that debt-ridden Greece's future lay in the eurozone, as Athens vowed to stick to the harsh austerity measures needed for an EU bailout. The backing from two of Europe's major economies came after a conference call with Greek Prime Minister George Papandreou, against the backdrop of mounting international pressure on the Europe Union to get its house in order. Rising expectations of a Greek default or even an inglorious exit from the eurozone continued to shake the markets. The fear is that Athens will be unable to apply an EU-IMF recovery plan. But French President Nicolas Sarkozy and German Chancellor Angela Merkel "are convinced that the future of Greece is in the eurozone", the French president's office said in a statement after the three-way talks. "The Greek prime minister confirmed his absolute det...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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