Swedish Finance Minister Anders Borg said Tuesday that discussion of an International Monetary Fund role in resolving Greece's debt crisis should not be ruled out.

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Speaking in Paris after meeting with French counterpart Christine Lagarde, Borg said "discussing the role for the IMF in dealing with the situation shouldn't be taboo," one of his spokeswomen told AFP.

"Greece has taken a first step toward restoring public finances and rebuilding market confidence but much more remains before confidence is restored," he told Sweden-based journalists in a telephone conference.

After the meeting, Lagarde said France and Sweden were "fully confident" in Greece's ability to put in place a programme to reduce the country's massive debt and a runaway public deficit.

The programme aims to reassure financial markets, anxious about Greece's capacity to honor its debts.

Europe's post-recession economic woes, highlighted by swelling public deficits of Greece, Portugal and Spain, will be the focus of a European Union summit on Thursday.

EU Economic Affairs Commissioner Joaquin Almunia said Tuesday there was no need for the IMF to help Greece out of its economic crisis as Europe can handle the problem.