Barroso Demands Solidarity on Greece

José Manuel Barroso, president of the European Commission, has challenged Berlin over its opposition to an early Greek rescue plan, insisting that this should be finalized this week to prevent further instability in currency and bond markets.

He called on Monday for rapid agreement on the mechanism for financial assistance to the debt-strapped Athens government, while admitting that no deal could be done without support from Germany.

In an interview with the Financial Times, Barroso expressed confidence that Berlin would overcome domestic opposition and back a eurozone-led financial package to Greece if or when it was requested.

“I know Chancellor Merkel. She is a committed European and I have no doubts that she will, if needed, be in favor of providing financial assistance to Greece,” said Barroso.

As Europe’s biggest economy, Germany had the most interest in preserving the eurozone’s financial stability but this would mean helping its weaker members, he said.

“There is no stability without solidarity and no solidarity without stability.”