ROME, Feb 22 (Reuters) - The European Union may have to help Greece, but any financial aid is likely to be more limited than the 20-25 billion euro plan reported by a German weekly, ECB executive board member Lorenzo Bini Smaghi said on Monday.
He told a talk show on Italian television that the EU needed to be stricter in making sure the public finances of euro zone members were in order and avoid 'a disaster'.
He said the EU surveillance and discipline mechanisms had not worked as well as they should have done. Keywords: ECB BINISMAGHI/GREECE (silvia.aloisi@thomsonreuters.com; +39 06 8522 4392, Reuters Messaging: silvia.aloisi.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
He told a talk show on Italian television that the EU needed to be stricter in making sure the public finances of euro zone members were in order and avoid 'a disaster'.
He said the EU surveillance and discipline mechanisms had not worked as well as they should have done. Keywords: ECB BINISMAGHI/GREECE (silvia.aloisi@thomsonreuters.com; +39 06 8522 4392, Reuters Messaging: silvia.aloisi.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.