Europe Tries To Calm Fears Over Greek Debt Crisis (ap)

admin | May 7, 2010, 21:10 | No Comments »

German Chancellor Angela Merkel, center, waits to cast her ballot in the German Federal Parliament in Berlin, Friday, May 7, 2010. Germany's parliament is expected to give the go-ahead for the country's share of the rescue package for debt-laden Greece. Chancellor Angela Merkel's center-right coalition has a comfortable majority in the lower house of parliament and also controls a majority in the upper house, which represents Germany's 16 states. Both chambers are to vote on the plan Friday. Germany is to grant as much as 22.4 billion euro (US dlrs 28.6 billion) in credit over three years as part of a wider 110 billion euro package backed by eurozone members and the International Monetary Fund. (AP Photo/Gero Breloer)AP – French President Nicolas Sarkozy and German Chancellor Angela Merkel announced early Saturday that the 16 eurozone nations will set up a financial defense plan by the time markets open next week to shield their shared currency against further attack.

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