Pressure Faced by Europe Finance Ministers for Detailed Greek Deal
European Central Bank

Under the pressure of investors, European finance ministers will meet today at 5 p. m. in Brussels, to make out the problem which Greece might face, if it fails to convince markets. If necessary in the coming months, Greece should be excluded from Euro, is the wish of 53pc of Germans. They will also discuss about the replacement of Lucas Papademos, Vice President of the European Central Bank, in June.

Investors are looking for the greater specification as well as hints to know if conformity could be applied to Portugal or Spain regarding Greece. The euro cut down to nine-month low on Friday, and further falls, this week are also expected. Investors consider that ministers have been failed to prevent the country from defaulting. Seeing the interest rates on its debt, the Greek government is struggling to lift up money in capital markets. On any prospective bail-outs of other nations the German constitution has above-board limitations.

"Solving this problem cannot be about aid for Greece. If anything, it's about keeping any damage away from German taxpayers", said Otto Fricke, the party's Treasury spokesman.

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