The Eurozone is prepared to take concerted action in support of Greece. It said EU Economic and Monetary Affairs Commissioner Olli Rehn, who is visiting Athens. After the meeting yesterday, Olli Rehn said that the Greek government has not requested financial assistance and that is felt in the country’s strong commitment to deliver the necessary reforms. This weekend is expected and a meeting between Greek Prime Minister Georgeos Papandreou and Germany’s Chancellor Angela Merkel. During his meetings with representatives of the Greek Commissioner Olli Rehn called on Greece to take additional measures for economies to reduce its deficit to 4 percent of GDP this year. Greek leaders have already announced a package of economic measures, providing for a freeze on wages, reducing premiums and allowances of civil servants and higher taxes, says Deutsche Welle. By 16 March Greece financial government must convince EU ministers and the European Commission that the proposed measures to reduce the budget deficit from 12.7 to 8.7 percent of GDP is not sufficient.
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