Eurozone nations discuss Greece's debt problem

2010-02-16 10:10 BJT

 

Eurozone finance ministers are meeting in Brussels to discuss Greece's debt problem. They're trying to decide whether the country's spending cuts will be enough to reduce its massive deficit over the next three years.

Eurozone nations pledged last week to help Greece if necessary, to protect the financial stability of the euro - but they did not say how they would help the country.

Greece's debt problem has shaken the entire eurozone and undermined the shared currency.

Market worries of a default have hiked the cost of Greek borrowing in recent months and caused the euro to slide to a near nine-month low against the dollar.

European Central Bank President Jean-Claude Trichet (R) talks with France's Finance Minister Christine Lagarde (C) and Greece's Finance Minister George Papaconstantinou (L) at the start of an Eurogroup finance ministers meeting at the EU Council in Brussels February 15, 2010.REUTERS/Wiktor Dabkowski
European Central Bank President Jean-Claude Trichet (R) talks
with France's Finance Minister Christine Lagarde (C) and
Greece's Finance Minister George Papaconstantinou (L) at the
start of an Eurogroup finance ministers meeting at the EU
Council in Brussels February 15, 2010.REUTERS/Wiktor Dabkowski