Aid for weaker eurozone countries

ECONOMICALLY strong eurozone countries have begun considering ways to shore up weaker member states for the first time in the decade-old history of the single currency bloc, Germany said yesterday.

Speculation has been swirling all week that Germany and perhaps other big European countries could come to the aid of euro bloc countries like Ireland or Greece, which have seen their finances sharply deteriorate during the global crisis.

Yesterday, ahead of a weekend summit of European G20 countries in Berlin, German foreign minister and vice chancellor Frank-Walter Steinmeier confirmed such deliberations had begun, although he and other officials said no concrete plans existed.