EU leaders "fully trust" Greece will honor commitments to eurozone

The European Union (EU) leaders said Monday they "fully trust that Greece will honour the commitments" it made at last week's summit where a new bailout plan for the country was agreed. Greece surprised its European partners and investors earlier Monday when Prime Minister George Papandreou announced that the plan would be subject to a referendum expected to take place in January. "We take note of the intention of the Greek authorities to hold a referendum," European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso said in a joint statement. "We are convinced that this agreement is the best for Greece. We fully trust that Greece will honour the commitments undertaken in relation to the euro area and the international community," said the two EU leaders. Van Rompuy and Barroso also said they had talked to Papandreou by phone and would discuss the issue with leaders of eurozone members on the sidelines of the G20 (Group of 20) meeting in Cannes, France, on Thursday and Friday.