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European Council

Of course the Greeks have a debt and solvency problem as well as a liquidity problem, but they have decided that they want to use liquidity to give themselves some time to deal with their debt problem. That is the choice they have made—and that is the choice the eurozone members are supporting—and I can quite see why they want to do it in that way. Let me also just make the following point, as I think a number of colleagues will ask similar questions: we must be very careful not to speculate about the financial situation faced by a fellow member state of the European Union.