Monday, December 5, 2011

United States ready to help Greece, says Biden

The United States will support Greece during these difficult times, US Vice President Joe Biden said during a visit to Athens today, in remarks that offered reassurance rather than concrete aid.

"I am here to tell you that we stand with you in solidarity as you meet some difficult requirements of the IMF and European Union," Biden told reporters before a meeting with Greek Prime Minister Lucas Papademos.

"It is a difficult time for Greece and we stand ready to help in every way we can."

Biden travelled to Greece before a key EU summit on the debt crisis in Brussels on Friday, in what has been called a crucial week for the common currency.

The Vice President also said that it was vital for the United States that Greece resolved its economic woes, with the help of its partners.

Earlier today, Biden joked about bringing money to help Greece out of its deepest financial crisis in decades. Papademos said he was confident Athens could count on the support of the United States.

Illustrating Washington's concern that the euro zone's troubles could sap the fragile US recovery, US Treasury Secretary Timothy Geithner will separately visit the euro zone this week to urge its leaders to act decisively to control the crisis.

US officials speaking in Washington on Geithner's mission stressed that he would bring advice and encouragement rather than money, at a time of severe budget constraints back home.

Greece, mired in its deepest financial woes in decades, is on a cash lifeline from the IMF and larger members of the euro zone to prevent a disorderly default and an exit from the common currency bloc of 17 nations that use the euro.