Merkel upbeat on Greek debt deal

21st July 2011, Comments 0 comments

German Chancellor Angela Merkel voiced optimism that eurozone leaders will reach a deal to settle Greece's debt crisis and stop it spreading at a crucial summit on Thursday.

"I think we will be able to decide on a new programme for Greece" that will "attack the root of the problems," she told reporters, referring to the emergency aid Greece needs to avert a disastrous debt default.

"That means that the sustainability of the debt must be improved and the competitiveness (of Greece's economy) must be improved," she added, speaking as she arrived at the summit in Brussels.

Merkel and her fellow eurozone leaders were gathering to agree on a way of easing Greece's massive debts. Analysts warned it could be the last chance to avert disastrous market panic throughout the eurozone.

© 2011 AFP

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