The European Union said Thursday it would help Greece access billions of euros in EU development funds in an attempt to boost the country's struggling economy and sweeten unpopular austerity measures ahead of a tight parliamentary vote.
European Commission President Jose Manuel Barroso said the EU was prepared to reduce the amount of money Greece has to come up with to co-fund projects under its regional funds to 15 percent, from the usual 50 percent. The Commission, which manages the funds, and other EU member states will also set up a program of technical assistance to make sure debt-laden Greece uses the money to stimulate economic growth and create new jobs.
Associated Press
