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Greece, Europe struggle to contain debt crisis
Greek, German finance ministers to hold talks in struggle to contain financial crisis
By The Associated Press

ATHENS, Greece (AP) ' Greece's finance minister is to speak with his German counterpart and meet the head of a European Commission task force for the debt-ridden country as the government struggles to contain a crippling financial crisis that is roiling global markets.

German Chancellor Angela Merkel has also sought to calm febrile markets after comments from her deputy about the possibility of a Greek debt default sent them spinning Monday.

Merkel warned Tuesday of the perils of an uncontrolled Greek bankruptcy.



"I have said 'if the euro fails, Europe fails' ' that that applies here and therefore everyone should very carefully weigh their words," she said on rbb-Inforadio . "What we don't need is unrest in the finance markets ' the uncertainties are already big enough."

The latest bout of jitters in the markets were partly stoked by comments from Vice-Chancellor Philipp Roesler that there should be "no bans on thinking" in how to resolve the euro crisis, including an "orderly insolvency."

Greece's finance chief Evangelos Venizelos is to speak Tuesday with German finance minister Wolfgang Schaeuble later after holding a lengthy telephone conversation the previous day.


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