Application for the first time in the history of Greece, the euro zone rescue operations start.

<P> Greek Prime Minister George - Papandreou, 23, announced the application launch the European Union and the International Monetary Fund joint relief mechanism. .</ P> <P> day of the International Monetary Fund to respond to the prompt action, the EU's largest economy, Germany, have proposed stricter conditions for aid, emphasizing the stability of the euro as the first. .</ P> <P> Greece mouth </ P> <P> Papandreou said in a televised speech that day, the current market situation is, "due to high interest rates, not only the sacrifices made by the Greek people have been wasting the risk of normal economic .operation is also facing the same risks. " .Greece, "the official application to our partner, start-up assistance mechanism, which is the Greek pressing needs." .</ P> <P> 11 euro zone finance ministers of 16 countries to finalize deal with the debt crisis of the Greek rescue mechanism to determine the euro-zone countries and the International Monetary Fund, where necessary, provide relief to the Greek. .19 Papandreou said that if the much-needed solution to the massive debt and deficit problems, the Government will start the rescue mechanism. .</ P> <P> 22, said Eurostat, the Greek budget deficit last year, accounting for 13.6% of GDP, higher than the Greek government had previously forecast 12.9% and the European Union, "Stability and Growth Pact," the provisions of the 3% limit. .</ P> <P> Reuters analysis, the news led to increased market concerns about the debt crisis in Greece, the Greek 10-year bond yields surged to a 12-year high, pushing up borrowing costs for which the Greek government "prohibitive." .The "last straw" to force the Greek government seeking the ultimate mouth Kai. .</ P> <P> Papandreou said, has asked the Finance Minister 乔治帕帕康 start the necessary procedures Stan quarter efforts, hoping the rescue program to help Greece to stabilize the economy, debt financing for the government to implement tough reforms breathing space .to the international market, the EU passed "to protect our common interests and common currency" of the signal. .</ P> <P> this stage, the Greek government adopted various measures to rigorously enforce the thrift, including the freezing of pensions, to cut civil service salaries, etc., lead to protests. .</ P> <P> three major stock indexes in Europe were slightly higher that day. .The euro against the U.S. dollar was 1 to 1.3390, up 0.8%. .</ P> <P> details of the proposed </ P> <P> Associated Press reported, 23 the Greek government to continue with the European Commission, the European Central Bank and the International Monetary Fund in consultation to discuss the details of the rescue plan. .In addition, some euro area member states to be ratified by Parliament to provide loans, the Greek government would not immediately get the cash. .</ P> <P> EU economic and monetary affairs spokesman for the members Olli Rehn said at a news conference the same day, in accordance with established procedure, a formal request by Greece, the European Commission and European Central Bank will start this .the need for a mechanism to express their views, then the euro area member states to decide whether a formal implementation of the Greek rescue. .</ P> <P> the International Monetary Fund Managing Director Dominique Strauss - Kahn said in a statement the same day: "We are ready to act quickly to this request." </ P> <P> according to plan, Sri Lanka .Strauss - Kahn set at 24, and Papa Constance quarter efforts in Washington talks. .</ P> <P> the European Union, said to aid the Greek did not see any "obstacles" will be required Greece to be "prompt" treatment. .</ P> <P> according to rescue mechanism, the other 15 eurozone countries on a bilateral basis will provide loans to Greece, the first year of a three-year fixed-rate loans totaling 300 million euros (about 40.17 billion U.S. dollars), .Greece now lower than the interest rate financing from the market. .The IMF will provide huge loans over the same period. .Following the Greeks, such as the need to be negotiated again. .</ P> <P> Papa says Constance quarter of efforts, I hope Greece on May 19 a 8.5 billion euros (11.38 billion U.S. dollars) received first aid before maturity funds, are expected not difficult. .</ P> <P> Associated Press analysis, the reason why the European Union to help Greece, when Greece first, worry about debt default, the euro will cause a heavy blow, shaking market confidence, so that the investment bank suffered losses of Greek bonds; Second, .to avoid the debt crisis spread to Greece, Portugal, Spain and other euro-zone countries facing difficulties. .However, this temporary relief, although help from the Greek Government fails to pay the debt, but difficult to solve Greece weak economy and long-term financing difficulties for many years and so deep-seated problems, and may apply for assistance to set a precedent for other countries, the financial burden will be transferred to other domestic .euro area member states commitment. .</ P> <P> Deti conditions </ P> <P> day, German Chancellor Angela Merkel warned that the rescue Greece is not inevitable move, as long as the euro can be implemented by the threat. .</ P> <P> Merkel said that maintaining the euro "stability first", officials need to "OK this is just the problem of Greece is a country on the single currency stability problem. And we certainly hope that rapid consultations ., act decisively. " .</ P> <P> according to her statement, the Greek side must complete negotiations with the International Monetary Fund, the German side and then decide on the specific amount of assistance. .In addition, any assistance must be added "very strict conditions", including the direction of Greece and the International Monetary Fund, the European Union to submit a viable conservation programs and by the European Commission, European Central Bank and the International Monetary Fund approved. .</ P> <P> "As long as when the two steps, we can talk about specific assistance, including the type and amount of relief," said Merkel, the Greek government "must play its role in ensuring their return to a solid financial track" .. .</ P> <P> Germany is the EU's largest economy, according to share in the ECB's capital investment is expected to take the maximum amount. .However, the German public opinion polls show that most voters do not support government actions. .The German government set up a supplementary budget because it is not, through state-owned KfW Group, the financing of aid money, and not funded by the German federal budget. .</ P>.