September 14, 2011
The Greek prime minister vowed Wednesday to persevere with austere cuts in the struggling country’s budget, while the leaders of France and Germany promised to support Greece’s continued membership in the euro zone.
That was the stay-the-course upshot of a conference call Wednesday evening in Europe by President Nicolas Sarkozy of France and Chancellor Angela Merkel of Germany with the Greek prime minister, George Papandreou.
With no new proposals issued, the conversation seemed mainly intended to send a message that Europe’s two richest countries do not intend to let Greece’s debt crisis spiral out of control.
The conversation came at the end of a day in which European stock markets took a breather from the recent spate of crisis-induced sell-offs, even shrugging off the credit-rating downgrade of two big French banks.
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