Berlin looks to build Greek ‘firewall’

Financial markets surged on the 9 February 2010 on hopes of a European rescue plan for Greece, as officials in Berlin admitted it was looking at how to construct a 'firewall' to prevent the debt crisis spiralling out of control.

A German government official said that the steep decline in the euro and pressure on bond prices had forced Berlin to 'take a significant step' in how to deal with the crisis.

ESO: Background information: EU divided over Greek IMF bailout http://www.europeansources.info/record/eu-divided-over-greek-imf-bailout/

Deutsche Welle, 10.2.10: Greece unions go on strike to protest spending cuts http://www.dw-world.de/dw/article/0,,5233958,00.html

Deutsche Welle, 10.2.10: Germany contemplates handout for Greece http://www.dw-world.de/dw/article/0,,5236373,00.html

ESO: Background information: Athens’ salvation lies in Paris and Berlin http://www.europeansources.info/record/athens-salvation-lies-in-paris-and-berlin/

Spiegel Online International, 10.2.10: Berlin Considers Greek Bailout as Unions Strike http://www.spiegel.de/international/europe/0,1518,677011,00.html

EurActiv, 10.2.10: EU to launch first eurozone rescue operation in Greece http://www.euractiv.com/en/euro/eu-launch-first-eurozone-recue-operation-greece

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