The Eurozone must rescue Greece

Greek Prime Minister George Papandreou has demanded a quick decision on financial aid from the European heads of state and government, indicating he will not hesitate to turn to the International Monetary Fund if need be. The daily Delo writes that the countries of the Eurozone should rescue Greece: "Never in the eleven-year history of the Eurozone has a member state needed the help of the other states. For that reason the ultimatum of Greek Prime Minister George Papandreou constitutes the first major test for the 16 members - probably even more trying than the enormous pressure from the stock markets several years ago when the common currency lost almost half its initial value within a few months. ... This time the euro is in even greater danger because Greece is no isolated island of financial instability. For that reason rescue action is direly needed."

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