European Council President Herman Van Rompuy said Friday it΄s now up to the Greek government, its parliament and people to agree terms of a new program with its lenders.
He was speaking after meeting with Irish Prime Minister Enda Kenny, discussing the debt problems of the euro zone ahead of a summit of European Union leaders next week.
Austerity reforms were “necessary in Ireland and elsewhere” for countries to emerge from the crisis, he said.
Van Rompuy said that the EU΄s new program for Greece will not cross two “red lines”–that it will not trigger a credit event or lead to a credit default.
Turning to Ireland, he said the Irish bailout was “on track”.
(source: Dow Jones)
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