Greek woes 'symptom of wider crisis'

SHANGHAI - The current deadlock in the Greek economy is a symptom of a deeper eurozone crisis, and a common fiscal policy is essential for the stabilization of the European Union's economy, according to a senior Greek official.

The crisis is the result of the lack of fiscal policy coordination among eurozone members, Petros Efthymiou, spokesman of the parliamentary group of Greek ruling party PASOK, told China Daily in Shanghai.

"The situation in Greece is the symptom of the eurozone, not the fundamental cause of the crisis," Efthymiou said, adding that the bloc "should confront these deeper problems before giving answers to the Greek case".