News / Europe

EU Leaders Welcome Greece's Move to Scrap a Referendum on Bailout

European Commission President Jose Manuel Barroso, left, and European Council President Herman Van Rompuy arrive at a G20 meeting in Cannes, Thursday, Nov.3, 2011.
European Commission President Jose Manuel Barroso, left, and European Council President Herman Van Rompuy arrive at a G20 meeting in Cannes, Thursday, Nov.3, 2011.
TEXT SIZE - +
Lisa Bryant

European leaders welcome Greek Prime Minister George Papandreou's decision to scrap a referendum on a bailout deal.  The Greek and larger eurozone crisis are dominating the Group of 20 summit meeting in the Riviera city of Cannes.

French President Nicolas Sarkozy said European leaders are in talks with the United States and other countries and institutions to expand a bailout fund for larger eurozone economies like Italy, which are teetering on the brink. Looking tired and harassed at an afternoon press conference, he described the atmosphere among leaders at this G20 summit as serious.

Sarkozy said the leaders agreed to better coordinate their political and economic policies against the threat of another economic slowdown. But the Greek crisis and its spreading fallout is dominating their agenda.  Following talks with Mr. Sarkozy earlier Thursday, President Barack Obama said resolving the European financial crisis was the most important task of this two-day meeting.

In Athens, Prime Minister George Papandreou backtracked from his decision to hold a referendum on a European bailout deal following a strong rebuke from France and Germany.

Sarkozy said Greece was a sovereign country, but Europe's two biggest economies had a duty to step in when it came to defending the 17 nations sharing the euro currency.  European leaders are reportedly discussing for the first time a possible Greek exit from the eurozone to save it.

G20 heads of state also received a plea from Microsoft chief and philanthropist Bill Gates not to forget the poorest nations as they cut spending in the face of a slowing economy.

"I don't have the solutions for them [the short-term issues], but they do need to address that," said Gates. "But, in doing so, they do need to keep in mind that the one percent or so of government budgets that go to helping the poorest, you know, I believe that should be maintained, and even grown."

Sarkozy is also pushing G20 leaders to increase their assistance to poor countries, partly through a controversial proposal to tax financial transactions.

You May Like

Wikipedia Proves Useful for Tracking Flu

Technique gave better results than Center for Disease Control (CDC) and Google’s Flu Trends More

Turkish Law Gives Spy Agency Controversial Powers

Parliament approves legislation to bolster powers of intelligence service, which government claims is necessary to modernize and deal with new threats Turkey faces More

Video Face of American Farmer Changing

Average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Face of American Farmer is Changingi
X
Mike Osborne
April 18, 2014
The average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population. It’s a troubling trend signaling big changes ahead for American agriculture as aging farmers retire. Reporter Mike Osborne says a new report from the U.S. Census Bureau is suggesting what some of those changes might look like... and why they might not be so troubling.
Video

Video Face of American Farmer is Changing

The average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population. It’s a troubling trend signaling big changes ahead for American agriculture as aging farmers retire. Reporter Mike Osborne says a new report from the U.S. Census Bureau is suggesting what some of those changes might look like... and why they might not be so troubling.
Video

Video Donetsk Governor: Ukraine Military Assault 'Delicate But Necessary'

Around a dozen state buildings in eastern Ukraine remain in the hands of pro-Russian protesters who are demanding a referendum on self-rule. The governor of the whole Donetsk region is among those forced out by the protesters. He spoke to VOA's Henry Ridgwell from his temporary new office in Donetsk city.
Video

Video Drones May Soon Send Data From High Seas

Drones are usually associated with unmanned flying vehicles, but autonomous watercraft are also becoming useful tools for jobs ranging from scientific exploration to law enforcement to searching for a missing airliner in the Indian Ocean. VOA’s George Putic reports on sea-faring drones.
Video

Video New Earth-Size Planet Found

Not too big, not too small. Not too hot, not too cold. A newly discovered planet looks just right for life as we know it, according to an international group of astronomers. VOA’s Steve Baragona has more.
Video

Video Copts in Diaspora Worry About Future in Egypt

Around 10 percent of Egypt’s population belong to the Coptic faith, making them the largest Christian minority in the Middle East. But they have become targets of violence since the revolution three years ago. With elections scheduled for May and the struggle between the Egyptian military and Islamists continuing, many Copts abroad are deeply worried about the future of their ancient church. VOA religion correspondent Jerome Socolovsky visited a Coptic church outside Washington DC.
Video

Video Critics Say Venezuelan Protests Test Limits of Military's Support

During the two months of deadly anti-government protests that have rocked the oil-rich nation of Venezuela, President Nicolas Maduro has accused the opposition of trying to initiate a coup. Though a small number of military officers have been arrested for allegedly plotting against the government, VOA’s Brian Padden reports the leadership of the armed forces continues to support the president, at least for now.
Video

Video More Millenials Unplug to Embrace Board Games

A big new trend in the U.S. toy industry has more consumers switching off their high-tech gadgets to play with classic toys, like board games. This is especially true among the so-called millenial generation - those born in the 1980's and 90's. Elizabeth Lee has more from an unusual café in Los Angeles, where the new trend is popular and business is booming.
Video

Video Google Buys Drone Company

In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
AppleAndroid