The Australian PM Julia Gillard, during the G20 Summit in Cannes, told France that the European leaders must act fast and prevent Greece from a total financial collapse. The Prime Minister also claimed that her country is ready to increase its financial support towards a healthier and steadier global economy by enhancing the IMF workings.
Ms Gillard supported a deal being put forward by euro zone leaders last week that would put a cap on spending rates in Greece, saying the “plans need to be implemented.”
“The G20 can play a role by bolstering political will and increasing IMF resources,” she said.
However, opposition leader Tony Abbott has been set against Australia helping the “strong” European economy exit the current crisis, while Deputy Prime Minister Wayne Swan called him a xenophobic for not wanting to aid Greece in such difficult times
According to Swan, Greece should be doing more to overcome the budget crisis and “restore stability and support growth in Europe” adding that “Of any country, Greece should be working hardest to make this plan work.”
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