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ECB Puts Greek Aid Up to EU

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by Brian Blackstone

March 5, 2010

European Central Bank President Jean-Claude Trichet rejected calls for more IMF involvement in Greece, saying it is up to Europe to look after its own.

European Central Bank President Jean-Claude Trichet rejected calls for more IMF involvement in Greece, saying it is up to Europe to look after its own.

"I do not trust that it would be appropriate to have the introduction of the IMF as a supplier of help," Mr. Trichet told a news conference after the ECB's monthly meeting, though he said its technical assistance has been helpful.

Speaking after the European Central Bank kept its rates steady for March, President Jean-Claude Trichet told reporters the euro zone's recovery was on track, albeit uneven, as it takes hold across the single-currency area.

Greece's budget deficit has created political divisions in Europe over whether to let the International Monetary Fund operate in a euro-zone country.

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