EU presses Germany to agree Greek aid package

THE head of the European Commission challenged German Chancellor Angela Merkel to rise above domestic politics and agree on a financial safety net for debt-stricken Greece to help preserve European monetary union.

Greece’s deputy prime minister meanwhile accused Berlin of allowing its banks to take part in a “deplorable game” of speculating on Greek bonds while German exporters profited from a weaker
euro due to Athens’ budget problems.

Jose Manuel Barroso said that EU leaders must decide at a summit on Thursday and Friday on a support mechanism for Greece or risk harm to their common currency, noting the euro’s stability was in Germany’s interest.

“We can’t carry on as we are, as this would threaten the stability of the eurozone and encourage speculation,” said Barroso..