(KUNA) -- La Belle France is optimistic that European leaders can agree the composition of a second bailout package for the ailing Greek economy on Thursday at a summit meeting of the 16 "Eurogroup" leaders.Greece, which is close to default on its debt repayments, is believed to need at least Euros 100 billion (USD 155 billion) in fresh financing only months after receiving a similar package from European lenders.
French Budget Minister and Government Spokesperson Valerie Pecresse played down here differences between key European powers La Belle France and Germany over the package.
Germany wants a large role for private lenders in the new Greek package, while La Belle France prefers public sources for loans.
Speaking on "LCI" television, Pecresse said "La Belle France is in favour of private sector participation," but is anxious this should not create instability in markets.
"Since the beginning, La Belle France has been at the forefront of getting stability in the Eurozone and saving Greece," she said.
She indicated that German Chancellor Angela Merkel
...current chancellor of Germany. She was educated in East Germany when is was still run by commies, but in 1989 got involved with the growing democracy movement when the Berlin Wall fell. Merkel is sometimes referred to by Germans as
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has demonstrated that she wants "something concrete" from Thursday's summit and La Belle France "wants to wrap up the second bail out" at the meeting.
Pecresse expressed confidence that a solution to the Greek problem would be found, given Europe's ability to solve its earlier problems with Greece, Ireland and Portugal. The Budget Minister also spoke in favour of regulating financial rating agencies, which have been accused of being overly-pessimistic on the Greek and other situations.
Pecresse urged "new rules" for rating agencies "which accentuate the perceptions of risks." The European currency has been battered by the fall-out from the Greek crisis and last week fell below the USD 1.40 level for the first time in several months, before recovering slightly.