EU Commission says no Greece deal concluded

Updated: 22:38, Saturday, 13 March 2010

The euro zone has not agreed a deal on financial support for heavily indebted Greece, a spokesman for the EU executive has said.

1 of 1Commission - 'Stands ready to act'
Commission - 'Stands ready to act'

The euro zone has not agreed a deal on financial support for heavily indebted Greece, a spokesman for the European Union executive has said.

Asked whether the 16 euro zone members had reached a deal on financial support for Greece, European Commission spokesman Jonathan Todd said: 'The Commission stands ready to act if necessary. Technical work is ongoing and has not yet been concluded. All the rest is speculation'.

Today, Britain's Guardian newspaper had quoted an unnamed senior European Commission official saying euro zone members had agreed on 'coordinated bilateral contributions' in the form of loans or loan guarantees if Greece asks the EU for help.

Euro zone policymakers have been debating the issue of possible financial aid for Greece for more than a month, but have so far provided only words of support.

Germany, key to any deal, has resisted appeals to promise aid.

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