EU pledges to help Greece

European finance ministers have gathered again in Brussels, one day after euro-zone states said they were ready to help Greece with loans.

Greek Prime Minister George Papandreou has explained that his country needs "breathing room" in order to implement reforms to stabilize its finances.

16 Euro-zone countries have discussed their plans with other finance ministers from the 27-nation EU.

The European Commissioner for Monetary Affairs described Greek plans to cut its budget deficit as "credible."

Greek Prime Minister George Papandreou (L) meets EU Economic Affairs Commissioner Olli Rehn in Athens March 1, 2010. REUTERS/John Kolesidis