News / Europe

    G20 Summit Focuses on Eurozone Debt Crisis

    U.S. President Barack Obama (L) and France's President Nicolas Sarkozy shake hands during a joint press conference ahead of the start of the G20 Summit in Cannes November 3, 2011.
    U.S. President Barack Obama (L) and France's President Nicolas Sarkozy shake hands during a joint press conference ahead of the start of the G20 Summit in Cannes November 3, 2011.

    Leaders of the world's leading economies are meeting in the French resort city of Cannes to discuss global economic problems, with the summit dominated by the European debt crisis and questions about a Greek bailout deal.

    U.S. President Barack Obama met separately with German Chancellor Angela Merkel and French President Nicolas Sarkozy, who lead Europe's strongest economies, before Thursday's official start of the Group of 20 summit in Cannes.

    President Obama said the European Union has taken some "important steps" to address its debt problems, and said he hopes the heads of the world's leading developed and developing countries can "flesh out" details of a comprehensive strategy to resolve the crisis.

    U.S. officials said the summit would also follow up on last year's meeting and discuss issues including global economic growth and how to put people back to work in countries with high unemployment.

    In an emergency meeting of European leaders ahead of the G20 summit, President Sarkozy and Chancellor Merkel said Wednesday that Greece would not receive "one more cent" of rescue loans from the EU or the IMF unless it abides by the terms of the economic bailout package reached last week.

    "We very clearly say that the sixth tranche can only be paid when Greece has accepted all parts of the decision of October 27th, and additionally, every doubt concerning the result of the announced referendum has been dispelled," said Merkel.

    Greek Prime Minister Papandreou surprised other European leaders this week by announcing that he would put the latest international rescue plan to a referendum vote of Greeks, with whom the plan's austerity measures are unpopular.

    The wording of the proposed referendum is not clear, but Papandreou said Wednesday that Greece's future participation in Europe's common currency was at stake in the vote.

    "We need to have a wide consensus because the program we are facing is difficult, is difficult in implementation but I believe the Greek people want us to be a strong partner in the euro, in the eurozone and a strong partner in Europe," said Papandreou."And that is at stake."

    On Thursday, Greek Finance Minister Evangelos Venizelos broke ranks with Papandreou and spoke out against the referendum. Venizelos said Greece's status in the eurozone cannot be made dependent on a popular vote.

    President Sarkozy said that he hopes Greece would remain in the eurozone, but stressed that the stability of the euro was of greater importance than rescuing the Greek economy.

    The bailout agreement reached last week would forgive $140 billion in money owed by Greece to private banks and strengthen a European bailout fund for Greece and other countries with troubled economies. It had been been hailed as a crucial breakthrough in the efforts to solve the two-year-old European sovereign debt crisis.

    You May Like

    California Republicans Mull Choices in Presidential Race

    Ted Cruz tells state's Republican Convention delegates campaign will be 'battle on the ground, district by district by district,' ahead of June 7 primary

    Video Kurdish Football Team Helps War-Torn City Cope

    With conflict still raging across much of Turkey’s predominantly Kurdish southeast, many Kurds are trying to escape turmoil by focusing on success of football team Amedspor

    South African Company Designs Unique Solar Cooker

    Two-man team of solar power technologists introduces Sol4, hot plate that heats up so fast it’s like cooking with gas or electricity

    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.
    Turkish Kurd Islamist Rally Stokes Tensionsi
    X
    April 29, 2016 12:28 AM
    In a sign of the rising power of Islamists in Turkey, more than 100,000 people recently gathered in Diyarbakir, the main city in Turkey’s predominantly Kurdish southeast, to mark the birthday of the Prophet Muhammad. The gathering highlighted tensions with the pro-secular Kurdish nationalist movement. Dorian Jones reports from Diyarbakir.
    Video

    Video Turkish Kurd Islamist Rally Stokes Tensions

    In a sign of the rising power of Islamists in Turkey, more than 100,000 people recently gathered in Diyarbakir, the main city in Turkey’s predominantly Kurdish southeast, to mark the birthday of the Prophet Muhammad. The gathering highlighted tensions with the pro-secular Kurdish nationalist movement. Dorian Jones reports from Diyarbakir.
    Video

    Video Pakistani School Helps Slum Kids

    Master Mohammad Ayub runs a makeshift school in a public park in Islamabad. Thousands of poor children have benefited from his services over the years, but, as VOA's Ayesha Tanzeem reports, roughly 25 million school-age youths don't get an education in Pakistan.
    Video

    Video Florida’s Weeki Wachee ‘Mermaids’ Make a Splash

    Since 1947, ‘mermaids’ have fascinated tourists at central Florida’s Weeki Wachee Springs State Park with their fluid movements and synchronized ballet. Performing underwater has its challenges, including cold temperatures and a steady current, as VOA’s Lin Yang and Joseph Mok report.
    Video

    Video Somali, African Union Forces Face Resurgent Al-Shabab

    The Islamic State terror group claimed its first attack in Somalia earlier this week, though the claim has not been verified by forces on the ground. Meanwhile, al-Shabab militants have stepped up their attacks as Somalia prepares for elections later this year. Henry Ridgwell reports there are growing frustrations among Somalia’s Western backers over the country’s slow progress in forming its own armed forces to establish security after 25 years of chaos.
    Video

    Video Bangladesh Targeted Killings Spark Wave of Fear

    People in Bangladesh’s capital are expressing deep concern over the brutal attacks that have killed secular blogger, and most recently a gay rights activist and an employee of the U.S. embassy. Xulhaz Mannan, an embassy protocol officer and the editor of the country’s only gay and transgender magazine Roopban; and his friend Mehboob Rabbi Tanoy, a gay rights activist, were hacked to death by five attackers in Mannan’s Dhaka home earlier this month.
    Video

    Video Documentary Tells Tale of Chernobyl Returnees

    Ukraine this week is marking the 30th anniversary of the world's worst nuclear accident, at the Chernobyl nuclear power plant. Soviet officials at first said little about the accident, but later evacuated a 2,600-square-kilometer "exclusion zone." Some people, though, came back. American directors Holly Morris and Anne Bogart created a documentary about this faithful and brave community. VOA's Tetiana Kharchenko reports from New York on "The Babushkas of Chernobyl." Carol Pearson narrates.
    Video

    Video Nigerians Feel Bite of Buhari Economic Policy

    Despite the global drop in the price of oil, Nigerian President Muhammadu Buhari has refused to allow the country's currency to devalue, leading to a shortage of foreign exchange. Chris Stein reports from Lagos businessmen and consumers are feeling the impact as the country deals with a severe fuel shortage.
    Video

    Video  Return to the Wild

    There’s a growing trend in the United States to let old or underused golf courses revert back to nature. But as Erika Celeste reports from one parcel in Grafton, Ohio, converting 39 hectares of land back to green space is a lot more complicated than just not mowing the fairway.
    Video

    Video West Urges Unity in Libya as Migrant Numbers Soar

    The Italian government says a NATO-led mission aimed at stemming the flow of migrants from Libya to Europe could be up and running by July. There are concerns that the number of migrants could soar as the route through Greece and the Balkans remains blocked. Western powers say the political chaos in Libya is being exploited by people smugglers — and they are pressuring rival groups to come together under the new unity government. VOA's Henry Ridgwell reports.
    Video

    Video Russia’s TV Rain Swims Against Tide in Sea of Kremlin Propaganda

    Russia’s media freedoms have been gradually eroded under President Vladimir Putin as his government has increased state ownership, influence, and restrictions on critical reporting. Television, where most Russians get their news, has been the main target and is now almost completely state controlled. But in the Russian capital, TV Rain stands out as an island in a sea of Kremlin propaganda.

    Special Report

    Adrift The Invisible African Diaspora