European Union leaders have reaffirmed their commitment to help Greece out of its current debt woes and maintain EU financial stability.

 European Commission President Jose Manuel Barroso said there was "a real will of the member states to do what is necessary".

 His comments came at the end of the first day of an EU summit in Brussels.

 The Greek parliament has to pass fresh austerity measures next week before the country can gain vital bail-out funds.

 Greece's government is proposing additional spending cuts worth EUR28bn over five years.

 If these are passed then Greece will get its next EUR12bn instalment from the current EUR110bn bail-out package from fellow eurozone countries and the International Monetary Fund.

 Without this money Greece will default on its next loan payments due in mid-July.

 However, many economists think it will be difficult for Greece to avoid default at some time in the future.

 Also speaking at the end of the first day in Brussels, European Council President Herman Van Rompuy said the EU was moving to make it easier for Greece to access European Union development funds to help boost its economy.

 

(BBC/VOVNews)