Greece: no bailout needed

GREECE has asked no country for a bailout and is the victim of speculators intent on attacking a “weak link” in the eurozone, its leader said yesterday as the premium on its debt hit a new high.

Greek Prime Minister George Papandreou, at the World Economic Forum in the Swiss ski resort of Davos, said his country was being targeted by speculators with ulterior motives opposed to the single European currency.

Papandreou said: “This is an attack on the eurozone by certain other interests, political or financial, and often countries are being used as the weak link, if you like, of the euro zone.”

European Commission president Jose Manuel Barroso said the EU would not abandon Greece. He said: “It’s quite clear that economic polices are not just a matter of national concern but European concern.”