The chief finance spokesman for Angela Merkel announced that Greece should rely on the International Monetary Fund to tackle its deficit as it is the most suitable instrument for doing this. Germany sees a rescue by EU members is risky as still there are European members that may not be able to trim their deficits at the time they are planning to do so. Germany does not want to have any financial commitment to Greece and expressed previously that Greece has to solve its own problem. Actually, this announcement may thwart the emergency plan introduced this week by the EU to bailout Greece. The euro slipped against the dollar for the second day to 1.3680 from the day's opening at 1.3734, as of 07:00 GMT.
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