EU, IMF Aid to Greece on Hold Until After Referendum

[Javaman]

http://www.cnbc.com/id/45135887

Greece will receive no more European bailout aid until it has put an end to uncertainty and agreed to meet its commitments to the euro zone, the leaders of France and Germany said on Wednesday.

Speaking after talks between senior European Union leaders and Greek Prime Minister George Papandreou, French President Nicolas Sarkozy told a news conference: "Our Greek friends must decide whether they want to continue the journey with us."

European leaders were angered by Papandreou's surprise unilateral announcement on Monday of a referendum on a bailout deal reached with euro zone leaders at a summit last week.

German Chancellor Angela Merkel told the same news conference that Germany wanted to stabilize the euro zone with Greece as a member, but stabilizing the euro was ultimately more important than rescuing Greece.

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