ECONOMY

Confidence in Greece

European Council President Herman Van Rompuy is seen addressing the Brussels Economic Forum yesterday. The European Union is not facing financial meltdown, despite recent fears that the 16-member eurozone is breaking apart, he said. Van Rompuy told the conference that EU policymakers have taken the right steps to ensure that heavily indebted states, particularly Greece, won’t be allowed to fail. He added that he is confident Greece will surmount its debt problems with the EU’s help. Criticism about the bloc’s somewhat halting moves to help Greece and then to set up a 750-billion-euro stability fund for further crises is exaggerated, according to Van Rompuy. ‘We stumbled, but we did not fail,’ he said. Meanwhile, the European Union said yesterday it had sent a letter to Greece about its austerity program but dismissed suggestions it referred to any shortcomings in Athens’s adherence to the plan. An EU spokesman said the letter was part of regular correspondence with Athens.