New York Times
October 21, 2011
European finance ministers agreed Friday to release their part of an €8 billion international loan package to prevent Greece from defaulting within weeks, as a divided euro zone began six crucial days of talks designed to calm the debt crisis.
With France and Germany on collision course over moves to increase the firepower of the euro zone’s bailout fund, the deal to help Greece provided some rare good news for ministers battling to produce a package of measures to reassure anxious markets.
The euro zone has now set itself a Wednesday deadline to deliver a long-promised comprehensive solution for the crisis. But it is struggling to produce measures that will impress financial markets that have consistently punished the bloc when it has sought to muddle through.
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