Greece has EU backing in debt crisis: Spain

(MILAN) - Greece has the backing of the European Union as it struggles to overcome ominous debt and deficit crises, the Spanish finance minister, whose country holds the EU presidency, said Thursday.

"It is important that the Greek finance minister feels the support of all of the EU," Elena Salgado told a press conference after meeting his Italian counterpart Giulio Tremonti.

Salgado is also to visit Athens, where the government on Thursday unveiled plans to put its chaotic public finances in order and to restore international credibility with its eurozone partners and investors.

The plan, outlined by Greek Prime Minister George Papandreou, is to be presented to the European Union's executive commission on Friday.

Greece is under mounting eurozone pressure to curb its public deficit and debt, which last month prompted all three leading ratings agencies to downgrade the country's credit standing.

Spain last week ruled out an EU rescue package for Greece.

Papandreou on Wednesday insisted his government was committed to remaining in the eurozone and would not seek financial assistance from the International Monetary Fund.

An IMF team of experts is currently in Athens to advise the government on technical measures to manage its finances.

-- Dow Jones Newswires contributed to this report --