RPT-UPDATE 1-Any EU assist for Greece reduce than reports-B. Smaghi

Tue Feb 23, 2010 2:32am EST Related News Up to 25 billion euros in aid mulled for Greece: reportSat, Feb 20 2010UPDATE 2-Up to 25 bln euros in aid mulled for Greece-magazineSat, Feb 20 2010Up to 25 bln euros in aid mooted for Greece-reportSat, Feb 20 2010ECB exec defends non-use of IMF for Greece: paperSat, Feb 20 2010Eurogroup to push Greek reforms, not bailoutMon, Feb 15 2010

(Repeats story filed late on Monday)

Currencies&&&&Bonds

* Europe will aid Greece if need be, money may be involved

* Any aid likely to be lower than 20-25 bln euro report

* EU must be stricter on public finances, discipline

(Adds quotes, background)

By Silvia Aloisi

ROME, Feb 22 (Reuters) - The European Union may have to helpGreece, but any financial aid is likely to be more limited thanthe 20 to 25 billion euro plan reported by a German weekly,European Central Bank executive board member Lorenzo Bini Smaghisaid on Monday.

The European Union and Germany earlier denied a report inGerman weekly Der Spiegel on Saturday that the German financeministry had sketched out a plan for aid from euro zone statesworth 20 billion to 25 billion euros ($27 billion to $33.7billion).

"Europe will help Greece save itself. It is possible thatmoney will be needed," Bini Smaghi told a talk show on Italiantelevision.

"I think that if at some point there is need to intervene,the amount will be much more limited than what has beenmentioned," he said when asked about the Der Spiegel report.

"Markets are ready to finance Greece if it has a credibleplan. It is up to the Greeks to implement a credible plan, ifthere is a need to recover markets" confidence Europe will help... To talk about figures now seems largely speculation."

Bini Smaghi said the EU needed to be stricter in making surethe public finances of euro zone members were in order toprevent a repeat of deficit and debt crises like the Greek oneand avoid "a disaster."

"What has not worked is the system of discipline, ofsurveillance, particularly in the case of Greece," he said.

"It"s a European crisis and must resolved by the Europeans... The Stability Pact perhaps should be a bit strengthened,especially in the case of countries that grow rapidly and do notreduce their deficit," he said.

Bini Smaghi said he was sceptical about drawing up lists ofsupposedly vulnerable euro zone countries, pointing out that thecost of long-term borrowing is often seen as an indicator offinancial risk. He said these costs are higher in Britain thanin Italy, a country often mentioned as a weak euro zone member.

He said the euro was solid and had helped shield members ofthe common currency bloc from the financial crisis. Euro zonesavers had nothing to fear, he said.

"I absolutely do not believe that the euro is at risk ...There are (exchange rate) fluctuations at the internationallevel that are also linked to economic developments," he said."There is no concern for the euro area, savings are solid."

He said he had the impression many people were hoping thatEurope could return to strong growth without adopting necessaryreforms.

"We will not get out the crisis only with macro-economicpolicies; reforms are needed," he said. (Additional reporting by Gavin Jones; Editing by JamesDalgleish)

Currencies Bonds

Leos London: Jose Mourinho is carrying a giggle if he thinks Chelsea would have been some-more successful had he stayed as physical education instructor

Jose Mourinho claims Chelsea have suffered since he left them and there is no jealous his depart in 2007 noted the finish of an epoch at Stamford Bridge.

But if he honestly believes they would have been some-more successful adhering with him as manager, he is teasing himself.

Where did it all go wrong? Mourinho examination Chelsea prior to long prior to he left the bar in 2007

Even though Chelsea tore themselves detached after Mourinho left, the intensity for repairs was far larger had he stayed.

The unhappy actuality is that the Special One and Roman Abramovich simply could not have it work after their outrageous descending out the deteriorate prior to - their operative attribute was unworkable.

There were problems with alternative key total as well and it would have taken a little critical subsidy down between the higher echelons to have it work.

No, I cant suppose it either.

Chelsea - and the Premier League - positively miss Mourinho and he unequivocally is a great manager, in the right environment.

Prolonging his pyrotechnics at Stamford Bridge would have been fun to watch too, but the bar had as well majority people station as well close for comfort.

QPR"s undiluted boss: No 286

Lothar Matthaus is assumingly one of the managers being deliberate to take over at QPR in the summer.

An outspoken German trainer with an unimpressive jot down who has never been concerned with English football.

Sounds undiluted if Rangers wish their revolving managerial doorway to go on to turn.

Phil Parkinson pronounced he saw a little flattering normal football from his Charlton group in better at Bristol Rovers this week.

But as they have right away left five games but a win, it is the physical education instructor who has the majority to prove.

Parkinson has mostly been compared with disaster at Charlton until this deteriorate and it is when teams have a drop in form that their bosses consequence their money.

He unequivocally needs to convene his infantry and forestall Charlton being overhauled by rivals Millwall if he is ever to rescue his once splendid reputation.

Reverse psychology seems to be all the fury at West Ham these days underneath David Sullivan and David Gold.

First they explain to have dismissed critique at their physical education instructor in sequence to get a reply on the representation from the players, suggesting Gianfranco Zola was as well nice.

Now they are asking investors to put up to 10million each in to a bar they demand they were insane to buy since of the catastrophic state of the clubs finances.

New owners: David Gold and David Sullivan

For great measure, Sullivan says it will be ;Armageddon if West Ham are relegated, something they are far from protected from.

Im not certain that would remonstrate me to deposit my income in the bar but since that the group won 2-0 after the chairmans new comments, some-more abounding ;nutters are probably queuing to stick on the dual Davids at Upton Park already.

Chelsea fans will find out the exposed law about their left-back shortly enough.

Yuri Zhirkov looks similar to he will get an lengthened run in the group after Ashley Coles ultimate damage and contingency put all he has got on display, in a football sense.

Standing in for the England defender will be a difficult pursuit but an considerable try is compulsory from the Russian to clear his move to Chelsea.

Zhirkov: Battling with Everton"s Landon Donovan at Goodison Park last week

Zhirkov cost 18million from CSKA Moscow last summer at a time when the Stamford Bridge bar were usually starting to try to revoke their send spending.

Daniel Sturridge, who cost an primary 3.5m, and free representative Ross Turnbull were the usually alternative additions to the Chelsea squad.

Zhirkov is a left-sided player who prefers midfield but can additionally fool around at the back. In his on all sides in midfield, Chelsea have Florent Malouda, Joe Cole, Salomon Kalou, Frank Lampard and Michael Ballack have featured there in assorted formations, so he contingency have been paid for as cover for Ashley Cole.

Now Zhirkov has some-more than thirty caps for his nation and is obviously a means player, but the time has come for him to unequivocally infer it.

More from Leo Spall... LEO"S LONDON: Arsenal"s executive defensive OAPs not great sufficient 24/03/10 LEO"S LONDON: Forward meditative Harry set to shift his diversion at Spurs 17/03/10 LEO"S LONDON: John Terry contingency not follow Frank Lampard"s trail if he is to climb on top of the hatred host 10/03/10 LEO"S LONDON: If Joe Cole is to bake splendid again, the usually approach brazen is by the Chelsea exit 03/03/10 LEO"S LONDON: It"s tough to show magnetism for supportive Woodgate 24/02/10 LEO"S LONDON: Arsenal face intense blow if Spurs trill them to third 10/02/10 LEO"S LONDON: Battle of Stamford Bridge could infer Arsenal"s last mount 03/02/10 LEO"S LONDON: Tottenham misfit Pavlyuchenko points the approach to what is wrong with football 27/01/10 VIEW FULL ARCHIVE

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Nicklas Bendtner keeps Arsenal in the pretension track Premier League

Richard Rae at KC Stadium & , : {}

HAVING scaled the heights opposite Porto in midweek, Arsenal, with 10-man Hull unresolved tightly on to their shirt-tails, found themselves incompetent to get out of the foothills yesterday. Only low in to blocking time were they means to shake up the Tigers off, and it took an horrible blunder from Boaz Myhill to capacitate them to do so; the City screw should have possibly caught, or at slightest pushed to one side, Denilsons carefree shot it was true at him but he punched it true out to Nicklas Bendtner, who duly put it in to the net.

It was Arsenals fifth stoppage-time idea in their past 4 matches, and as at Stoke dual weeks ago, this one was crucial. Which usually goes to show, pronounced their physical education instructor Arsène Wenger, that however formidable the game, his immature side had enterprise and mental strength.

And the idea they can win the title? With eight games to go, because should we not believe? asked the Frenchman. What I do hold is we will give positively all to do it. We saw that again here, we were a bit jaded, but we kept going.

Arsenals early brilliance, epitomized in the four-man move that led to Andrey Arshavins opening idea after fourteen minutes, in jeopardy to confuse Hull, but the idea served to energize the home team, and if there was zero pointed about the approach they went about their work, they unsettled Arsenal. January Vennegoor of Hesselink was offside using on to Dean Marneys idea pass, but Sol Campbells attempted plea was amply awkward for arbitrate Andre Marriner to point to the spot.

Related LinksBattling Birmingham have their pointElmander paves approach for Bolton delight Premier League previews: Carrick earnings

Jimmy Bullard converted the penalty, but crucially, pronounced City physical education instructor Phil Brown, Marriner chose not to send Campbell off. Given Hesselink did not have the round underneath control, it was a indecisive point.

What Marriner could not do was destroy to conflict to George Boatengs abominable studs-up thrust at Bacary Sagna prior to long prior to half-time, that usually happening commanded did not leave the Frenchman in the same condition as his teammate Aaron Ramsey. Remarkably Marriner usually brought out a yellow card, but with Boateng already in the book for a stupid scuffle with Bendtner, he followed it with the red.

Whatever encouraged the Hull players thereafter, it cannot have been a clarity of injustice, but they practical themselves distinctively to the pursuit of creation Arsenals poke for a leader as formidable as possible. Wenger incited to his bench, and it should have finished an evident difference, but nonetheless Theo Walcott set up initial Arshavin and afterwards Bendtner, conjunction possibility was taken. It took Myhills bad goalkeeping to have the difference.

While Wengers group might have lost 4 out of 4 opposite Chelsea and Manchester United this season, this was their fifth Premier League win in a row, and in conditions of matches remaining, they crop up to face the slightest contrast run-in of the 3 pretension contenders.

When it was put to Wenger that it looked comfortable, he smiled ruefully. You have seen how gentle it was here, when it was 1-1 after 90 minutes. It was 1-1 after 90 mins at Stoke. That tells you how easy it will be.

Brown was unapproachable of his players. I apologised to the Womens Institute during the week for the fighting suggestion we showed in public, but I dont apologize for it today, he said.

Star man: Nicklas Bendtner (Arsenal) Yellow cards: Hull: Dawson, Boateng Arsenal: Campbell, Bendtner Red card: Hull: Boateng Referee: A Marriner Attendance: 25,023

Hull: Myhill 6, Mendy 6, Zayatte 5 (Cooper 55min, 7), Mouyokolo 6, Dawson 6, Fagan 6, Boateng 3, Bullard 7, Marney 6, Vennegoor of Hesselink 7 (Garcia 73min), Altidore 7 (Kilbane 82min)Arsenal: Almunia 6, Sagna 6, Campbell 5, Vermaelen 7, Clichy 6, Denilson 7, Diaby 6, Eboue 6 (Walcott 65min), Nasri 5 (Eduardo 76min), Arshavin 6, Bendtner 8

GUNNERS ARE LAST-GASP MASTERSNicklas Bendtners late idea in last nights 2-1 win at Hull was the seventh time Arsenal have scored in blocking time in the Premier League this season, and the fifth time they have finished it in the past 4 games in all competitions. It was the sixth time Hull have conceded in blocking time in the league. Arsenals late win seemed inevitable. They have scored fifteen goals in the last 10 mins this season, some-more than any alternative Premier League side, whilst Hull have conceded fourteen in the same period, additionally some-more than any alternative top-flight side.

To see how the compare unfolded click here

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Liberal Democrats conflict plan for free home caring for elderly

Sam Lister, Health Editor & , : {}

Gordon Browns process of free home caring for the aged will humour the majority vicious reversal nonetheless this sunrise when the Liberal Democrats turn the initial celebration to conflict the plan.

Nick Clegg, the Lib Dem leader, will make known that delinquent carers who see after kin for some-more than 50 hours a week would instead get a weeks legal holiday cover out of income allocated by the Prime Minister for free care. In a debate to the Kings Fund think-tank, Mr Clegg will turn the majority high-profile censor of Mr Browns oath to give 400,000 people with vicious needs free caring at home. Concerns have been lifted that the process has not been costed properly, would lead astray from alternative services, and was small some-more than back-of-the-envelope electioneering by Mr Brown.

Mr Clegg will report the plan due suddenly by the Prime Minister at his discussion debate last Oct as a asocial pledge ... everybody right away knows will essentially lead to cuts in caring budgets for a little of the majority exposed aged people. Until now, the Liberal Democrats and Conservatives have opted not to retard the legislation, for fright that the open would see it as a rejecting of the suggest of free care. The majority assertive critics have been from inside of Mr Browns own party, and internal management leaders dumbfounded at the cost.

The Liberal Democrat celebration personality will admit that his celebration had primarily upheld the Personal Care at Home Bill, that upheld by the House of Commons, but right away supposed that it was essentially flawed.

Related LinksWe contingency face up to the costs of caring for the elderlyFree caring for the aged need not be incriminating

Today the legislation will be debated for a second time in the House of Lords. A opinion on amendments, that could derail the Bill, is approaching subsequent month. This month some-more than 70 councillors wrote to The Times expressing regard at how the process would be paid for, call Labour Party officials to try to remove names of Labour signatories.

The annual cost of the Bill is put at 670 million that would concede 400,000 people with the top needs to stay in their own homes. Of this, 420 million is to come from existent Department of Health budgets, with internal authorities told to yield the superfluous 250 million from potency savings.

Setting out his prophesy for the NHS and amicable care, Mr Clegg will suggest a remit pledge paid for out of income allocated for the Bill. One million carers in England who yield some-more than 50 hours of caring each week would be entitled to embrace a document homogeneous to the cost of a week in a caring home. They could make use of it in one retard of a week or a array of shorter breaks. The Liberal Democrats design the cost to be 460 million in 2010-11, rising to 500 million in 2014-15. It would be met with 420 million of Department of Health appropriation for the Bill, as well as 100 million already allocated for remit caring by the Governments Carers Strategy. It is time to recognize that there is a dark armed forces of people, but whom no amicable caring process would be even remotely affordable, Mr Clegg will say. The Bill has annoyed extreme critique over the approach it was sprung on Parliament and the open mid by consultations over a vital legislative programme on long-term care. It is this broader programme on that parties have been looking to reach consensus. Earl Howe, the Tory health orator in the Lords, has tabled amendments to dilate the clarification of vicious needs and remove the tenure personal.

McLaren launches £150,000 super car Business

The new McLaren MP4-12C Automotive is denounced at the firm"s Woking headquarters. Production will begin subsequent year Photograph: Kirsty Wigglesworth/AP

Ron Dennis, the trainer of McLaren, insisted currently he had "moved on" from Formula One as he launched the company"s new super car.

Production of the highway car, the MP4-12C, that will cost about �150,000, will begin subsequent year at a new �40m trickery at the company"s unconventional domicile in Woking, formulating 300 jobs.

McLaren Automotive, that is formulation some-more new models, is anticipating to in the future sell 4,000 cars worldwide each year. The association has done singular numbers of some-more costly super cars in the past, but never this many.

Speaking to the Guardian, Dennis certified he had approaching withdrawal symptoms at the Australian grand prix last spring, his initial after quitting the sport.

"I was full of expectancy in Australia last year that I would go and get a little sort of withdrawal," the 62-year-old said. "But I don"t have to watch each notation of a grand prix even when I"m not there. It"s piece of my hold up and it"s not left but I"ve changed on to bigger challenges."

Nevertheless, he retains a clever connection to the competition that he dominated for decades. Looking out from his office, over a lake and towards the margin where the new prolongation trickery will be constructed, he pronounced a hovel would be built to bond the dual sites, carrying what he calls "umbilical cords" such as IT lines.

Dennis, whose happening the Sunday Times last year estimated at �87m, is obviously unapproachable about McLaren"s achievements in F1, creation it the sport"s second majority successful group after Ferrari. Asked if he was disturbed that McLaren"s pull in to larger-scale production was a risk, since the passing of alternative iconic British sports car manufacturers such as TVR, he said: "I don"t wish to be in any approach derogative to the commercial operation models of any of the alternative small car manufacturers. I never saw them in any grand prix or have any success in the engine competition it represents."

He additionally strike behind at conjecture that he had been forced to pass on the reins of the F1 group after McLaren was fined $100m (�65m) by the ruling body, run by Max Mosley, over the 2007 "spygate" saga. He insisted he had been formulation his move for a little time.

"The story is I"m fearful heavily spun. My plan was regularly to pass group principal to Martin [Whitmarsh] at the commencement of 2009. Even if you"re reluctantly pushed on to a pedestal afterwards there"s zero some-more sure that the same people pulling you on to the pedestal will take each event to slice you off it," he said.