Content Section
CRISIS Merkel Pledges Support for Greece Louisa Gouliamaki, AFP / Getty Images

Merkel Pledges Support for Greece

German Chancellor Angela Merkel on Tuesday vowed ongoing support for Greece, saying the country has made progress on a “difficult path.” Merkel’s support is especially important since Germany has been the chief financial backer of Greece, although many Greeks blame Germany for the harsh austerity measures. Athens increased security and banned protests for Merkel’s visit. Police fired tear gas at demonstrators who threw stones and gas bombs at them. Meanwhile, the International Monetary Fund released a report on Monday saying the global economy is still slowing down and it is cutting its growth forecasts. In Britain, Prime Minister David Cameron said on Tuesday that he would not create a “Plan B” to ease up the austerity programs, despite the IMF’s downgrading of Britain’s growth forecast.

October 9, 2012 6:41 AM