News / Europe

G20 Hopes to Move Beyond Greek Crisis

Presidents Nicolas Sarkozy  (r) and Barack Obama during the G20 Summit in Cannes, Nov.3, 2011.
Presidents Nicolas Sarkozy (r) and Barack Obama during the G20 Summit in Cannes, Nov.3, 2011.
Kent Klein

After the Greek political crisis dominated the first day of the G20 economic summit, the second and final day is expected to focus largely on the health of the global economy.  Large industrial countries gathered in Cannes expressed relief at Greece's decision to scrap a referendum on a European bailout plan.

Greek Prime Minister George Papandreou announced Thursday he would not follow through on his proposal to ask voters whether they would approve Europe's plan to rescue Greece's economy.

If the deal had been voted down, Greece might have been forced out of the 17-nation euro bloc, and the country could have defaulted on its debts to banks.  The Papandreou government could have fallen as well.

Now the G20 leaders will focus on the original intent of the Cannes summit -strengthening the global economy.  The summit host, French President Nicolas Sarkozy, said extra meetings would be held late Thursday to look for solutions to Europe's debt crisis.

Shortly after he arrived in France, President Barack Obama held private meetings with Mr. Sarkozy and German Chancellor Angela Merkel, who led the effort to keep Greece's debt from spreading through Europe.

After meeting with his French counterpart, Mr. Obama said his top priority for the summit was to help Europe push ahead with its recent deal to help Greece.

“The most important aspect of our task over the next two days is to resolve the financial crisis here in Europe," said President Obama. "President Sarkozy has shown extraordinary leadership on this issue.  I agree with him that the EU has made some important steps towards a comprehensive solution.”

Ben Rhodes, a deputy national security adviser to President Obama, told reporters the goal is a cohesive plan for putting the bailout into practice.

“While there has been substantial progress, both he and, I think, Europe's leaders would acknowledge that more work needs to be done, because this needs to be implemented in a decisive way, in a clear way, in order to move beyond the current situation of crisis," said Rhodes.

G20 leaders will hold more meetings Friday on Europe's economy and the global economy. 
Before returning to Washington, Mr. Obama will join Mr. Sarkozy in honoring the U.S.-French alliance and military members who took part in the French-led mission in Libya.

“Finally, I am looking forward to joining Nicolas and service members from both of our countries tomorrow, to celebrate the alliance between our two countries, which spans more than 200 years, from Yorktown to Libya," said Obama.

Mr. Obama will also meet one-on-one with the President of Argentina, Cristina Fernandez de Kirchner.

You May Like

Koreas Mark 61st Anniversary of War Armistice

Muted observances on both sides of heavily-armed Demilitarized Zone that separates two decades-long enemies More

Judge Declares Washington DC Ban on Public Handguns Unconstitutional

Ruling overturns capital city's prohibition on carrying guns in public More

Pricey Hepatitis C Drug Draws Criticism

Activists are using the International AIDS Conference to criticize drug companies for charging high prices for life-saving therapies 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.
Students in Business for Themselvesi
X
Mike O'Sullivan
July 26, 2014 11:04 AM
They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Students in Business for Themselves

They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.
Video

Video Not Even Monks Spared From Thailand’s Junta-Backed Morality Push

With Thailand’s military government firmly in control after May’s bloodless coup, authorities are carrying out plans they say are aimed at restoring discipline, morality and patriotism to all Thais. The measures include a crackdown on illegal gambling, education reforms to promote students’ moral development, and a new 24-hour phone hotline for citizens to report misbehaving monks. Steve Sandford reports from Bangkok.
Video

Video Virtual Program Teaches Farming Skills

In a fast-changing world beset by unpredictable climate conditions, farmers cannot afford to ignore new technology. Researchers in Australia are developing an online virtual world program to share information about climate change and more sustainable farming techniques for sugar cane growers. As VOA's Zlatica Hoke reports, the idea is to create a wider support network for farmers.
Video

Video Airline Expert: Missile will Show Signature on Debris

The debris field from Malaysia Airlines Flight 17 is spread over a 21-kilometer radius in eastern Ukraine. It is expected to take investigators months to sort through the airplane pieces to learn about the missile that brought down the jetliner and who fired it. VOAs Carolyn Presutti explains how this work will be done.
Video

Video Treatment for Childhood Epilepsy Heats up Medical Marijuana Debate

In the United States, marijuana is classed as an illegal drug by the federal government. But nearly half the states have legalized it, to some degree. Proponents say some strains of marijuana might have exceptional health benefits, for treating pain or inflammation in chronic conditions such as cancer, multiple sclerosis and epilepsy. Shelley Schlender reports on a strain of medical marijuana developed in Colorado that is reputed to reduce seizures in childhood epilepsy
Video

Video Airbus Adds Metal 3D Printed Parts to New Jets

By the end of this year, European aircraft manufacturing consortium Airbus plans to deliver the first of its new, extra-wide-body passenger jets, the A350-XWB. Among other technological innovations, the new plane will also incorporate metal parts made in a 3-D printer. VOA's George Putic has more.
Video

Video AIDS Conference Welcomes Exciting Developments in HIV Treatment, Prevention

Significant strides have been made in recent years toward the treatment and prevention of HIV, the virus that causes AIDS. This year, at the International AIDS Conference, the AIDS community welcomed progress on a new pill that may prevent transmission of the deadly virus. VOA’s Anita Powell reports from Melbourne, Australia.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.

AppleAndroid