Against expectations, European leaders offered moral but not financial support to the debt ridden Greece in an effort to quiet conjecture that the crisis could reach surrounding nations and damage the euro.
The leaders pledged that action would be taken if need called for it in order to protect the strength of the Euro but no details were divulged about how they would help Greece assuage the weight of their astronomical debt.
The euro is at its worst standing since the currency’s introduction in 1999. It saw small improvement in the hours following an announcement from European Central Bank President Jean-Claude Trichet that he would help to monitor and potentially plan the government's budget cuts.
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