Greece wants EU to use old Latvia fund for bail-out

Greek leader George Papandreou and Socialist parties across Europe have called on the EU to re-deploy for Greece an existing European bail-out fund originally established to rescue Latvia, Hungary and Romania.

The Party of European Socialists, representing social-democrats from the continent, issued the fresh bail-out proposal at a meeting in Brussels on Thursday (25 March).

The scheme involves tweaking the rules on use of a €50 billion pool of cash set up in 2008 at the height of...