Debt, The EU, And Greece
European leaders promised Thursday to safeguard their common currency, the euro, by aiding Greece during its debt crisis. But they offered no immediate assistance to the Greek government and remained silent on how they would respond if investors remain jittery about Greece and other nations with weak economies that use the euro.
Germany blocked discussion of specific bailout mechanisms, forcing the leaders of the 27 countries in the European Union to turn their attention instead to prodding Greece to get its finances under control, promising stringent monitoring of Greece’s tough austerity program.
With the euro facing its worst crisis since it was created in 1999, the leaders who gathered in Brussels offered little more than a statement pledging “determined and coordinated action” if needed to protect the financial stability of the 16 nations within the bloc that use the euro.
EDIT: Oh Wait...