MUMBAI - The International Monetary Fund on Friday joined the European Union in pledging support for Greece in its struggle to bring its ballooning budget deficit under control and contain its debt crisis. The IMF's declaration follows an EU summit, which sent Athens a "clear message of solidarity," but produced no specific rescue plan, disappointing markets and sending both the euro and Greek government bonds lower. "We stand willing and able to support Greece in ways that the Greek authorities think is appropriate," IMF First Deputy Managing Director John Lipsky told reporters on the sidelines of an international central banking conference. An EU source told Reuters earlier the bloc looked to draw on IMF expertise on designing financial rescues, but not the Fund's money. European Central Bank President Jean-Claude Trichet also weighed in, offering help in monitoring Greece's efforts and drawing up "necessary additional measures". "I confirm that the ECB will work with the European Commission in monitoring the implementation of the recommendations by Greece," Trichet said in a statement. Britain's Guardian newspaper laid the blame for limited progress at Thursday's summit on Germany, citing sources as saying that Chancellor Angela Merkel blocked work on a specific financial rescue plan.
