No German plan for rescuing Greece: Angela Merkel

Chancellor Angela Merkel Sunday dismissed talk of a German rescue plan for Greece's ailing economy, as Athens braced for an EU audit that could usher in new austerity cuts to tackle its massive debt crisis. Greek bond prices rallied this week on a report that Europe's top economy was considering coming to the aid of debt-burdened Greece, as Prime Minister George Papandreou prepares to hold talks with Merkel in Berlin on Friday. But the German chancellor denied any such plan was in the works, saying "there is absolutely no question of it".

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