Navigation path

Left navigation

Additional tools

Statement of President Barroso on the creation of a Euro area instrument for coordinated assistance to Greece

European Commission - MEMO/10/90   19/03/2010

Other available languages: none

MEMO/10/90

Brussels, 19 March 2010

Statement of President Barroso on the creation of a Euro area instrument for coordinated assistance to Greece

The Commission is ready to propose an instrument for coordinated assistance to Greece. Such an instrument would be constituted by a system of coordinated bilateral loans and would be compatible with the no bail-out clause and with strict conditionality. The creation of this instrument does not imply its immediate activation. Our objective is an instrument designed within the euro area, with conditions and management established by the euro area and its institutions. We cannot prolong any further the current situation. I do not want to speculate if there will be a financial contribution from the IMF. What is important is to agree on a Euro area instrument. I urge the EU's leaders to agree on this instrument as soon as possible.


Side Bar

My account

Manage your searches and email notifications


Help us improve our website