EU considers rescue of ailing economies

EU leaders have opened the door to the possibility of rescuing troubled eurozone economies by stating they would take action to ensure the safety of the euro area following a special summit in Brussels.

They did not, however, offer to bail-out the troubled Greek economy, saying the country must take whatever measures are needed to help themselves, adding that the Greek government had not requested any financial support.

A statement read out by EU President Herman Van Rompuy called on Greece to implement all measures to reduce their budgetery deficit by 4% this year.