EU Officials to Contemplate Greece Rescue Plan

German Chancellor Angela Merkel wants private investors to share the pain of Greece's debt crisis. Photo by BBC

A proposal for a rescue plan for Greece is to be presented to a summit meeting of European officials on Thursday.

Ahead of Thursday's talks in Brussels, German Chancellor Angela Merkel mwt with France's President Nicolas Sarkozy in Berlin and reached an agreement they presented to Herman Van Rumpuy, president of the European Council, for consideration, The New York Times says.

Germany still states that a substantial and quantifiable contribution from the private sector remains its “decisive demand” for the new program being negotiated by the 17 eurozone countries

"We, as a country, have taken the necessary decisions no matter how difficult they were. It is now time for Europe to make its own decisions," Greek Prime Minister George Papandreou has told Kathimerini.

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