Oct. 22 (Bloomberg) -- German Chancellor Angela Merkel said Europe has accepted a “more realistic” outlook on Greece’s financial situation. Speaking to reporters in Brussels today on the eve of a European Union summit, she said, “I believe one has arrived at a more realistic view of the situation in Greece and that we will provide the necessary means to be able to protect the euro. But that all that still requires alot of work.”

To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net