Germany says ready to show 'solidarity' with Greece

23rd April 2010, Comments 0 comments

Germany said on Friday that it stood ready to show "solidarity" with Greece but that there was no urgent need to provide aid as Athens's debt is fully financed into next month.

"It is important to stress that the ball is still clearly in Greece's court, but nonetheless in Germany we are committed to solidarity and will prove this if necessary," finance ministry spokesman Michael Offer said.

He was speaking after reports said that was Greece was about to approach its eurozone partners and the International Monetary Fund for aid, and before this was confirmed in Athens.

Offer said that any aid would be "in order to stabilise the euro."

"And as a result we would do so in our own national interest."

As Europe's largest economy, Germany is in line to provide the biggest share of any bailout of Athens.

Eurozone ministers have offered debt-stricken Greece up to 30 billion euros (40 billion dollars) in 36-month loans for this year at a rate of around five percent if needed.

The IMF could contribute another 10 billion or 15 billion euros in emergency loans this year.

© 2010 AFP

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