Papandreou extols Greek resue plan at EU Spring Summit

Greek Prime Minister George Papandreou has praised a rescue program for his country at the EU Spring Summit. Friday's statement followed the measure's approval a day earlier. Also at the Brussels gathering, British Prime Minister Gordon Brown is voicing his opposition to the threat of industrial strife.

The leaders of the 16 eurozone countries agreed Thursday on a plan to rescue Greece if the nation finds itself unable to borrow cash.

The deal would provide individual loans from other EU economies, as well as capital from the International Monetary Fund. The new blueprint sets up a potential safety net for the first time, one for which contributions would be voluntary.

Greek Prime Minister George Papandreou is praising the decision, saying it gives his country a much needed shot of confidence.

George Papandreou, Greek Prime Minister, said, "And of course we do hope, and believe, we will never need to use this mechanism, but the fact that it is there is a very positive signal. Europe is backing us, Europe puts a seal of approval on our program, Europe is there in any case, and this will allow us in a very calm and organized fashion to implement our program."

Meanwhile, addressing a separate issue, British Prime Minister Gordon Brown is expressing hopes of averting large scale industrial action this Easter, after his nation's union leaders announced such intentions on Thursday.

He added that labor disputes of this type should not be tolerated, particularly at a time when the global economy is emerging from a prolonged recession.

Other key issues at the Spring Summit include preparing for the G20 meetings, pushing forward the EU 2020 strategy, and focusing on climate change policies.