More on GermanyBRUSSELS — German Chancellor Angela Merkel and other EU leaders flatly rejected a new multibillion euro (dollar) bailout for eastern Europe on Sunday, suggesting that additional aid be given to struggling nations only on a case-by-case basis. That stance came even as Hungarian Prime Minister Ferenc Gyurcsany warned that the global credit crunch was creating a widening economic chasm in the 27-nation bloc. Pointing out that the credit crunch was hitting eastern members hardest, Gyurcsany had called for an EU fund of up to euro190 billion ($241 billion) to help restore trust and solvency in those nations. "We should not allow that a new Iron Curtain should be set up and divide Europe," Gyurcsany told reporters. His plan was quickly shot down by Germany and others, balking at the costs involved.
Angela Merkel Rejects Bailout Plan For Eastern Eu Nations
The Huffington Post News Editors, Huffington Post
Sun, 03/01/2009 - 9:50am
Topics: germanybrussels german chancellor angela merkel hungarian prime minister ferenc gyurcsany pointing iron curtain europe gyurcsany hungary eu commission president jose manuel barroso world bank czech prime minister mirek topolanek french president nicolas sarkozy merkel eu europe gyurcsany i european members bloc leaders sunday called crunch
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