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monti may also be called upon to immediate all the between these two, mrs. merkel and mr. sarkozy struggle to reconcile their differences, hence today's trilateral meeting between the three eurozone countries, which are also members of the g-8. it comes at a difficult time, as disputes over the best way to try to resolve the crisis in the eurozone are becoming increasingly public again. france has been saying repeatedly that berlin should relax its opposition to the european central bank, guaranteeing the debts of any country which runs into trouble. germany has been saying equally vocally that that won't happen. something somewhere is going to have to give. chris morris, bbc news, brussels. >> a general strike is being held in protest at austerity measures that are being introduced there following the international bailout. public transport, schools, and hospitals among the areas expected to be affected during the 24-hour stoppage. more than 400 international flights will be cancelled, while some million commuters had to make their way to work without regular train servic
monti may also be called upon to immediate all the between these two, mrs. merkel and mr. sarkozy struggle to reconcile their differences, hence today's trilateral meeting between the three eurozone countries, which are also members of the g-8. it comes at a difficult time, as disputes over the best way to try to resolve the crisis in the eurozone are becoming increasingly public again. france has been saying repeatedly that berlin should relax its opposition to the european central bank,...
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Nov 24, 2011
11/11
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no sign yet that mrs. merkel is budging. >> when modifying the treaty, we're talking about fiscal union, a deep political operation. this is a different story. we have proposals on that which have nothing to do with the ecb. >> plenty for mario monti to ponder as he takes on the task of turning the italian economy around. his country is too big to fail but too big to bail. the eurozone needs him to the liver. >> and we share our thoughts about the situation. we agree that the health of the eurozone is the party. it is fundamental that the zero states. >> -- we agree that the health of the eurozone is the priority. it is fundamental that the euro stays. >> the indian cabinet has approved its biggest economic reform in years, opening up the vast retail markets to foreign supermarkets. that paves the way for companies such as wal-mart, the world's largest retailer, to access the lucrative indian retail sector. three bombs have exploded in basrah killing 19 people and wounding at least 60. the explosions tore through
no sign yet that mrs. merkel is budging. >> when modifying the treaty, we're talking about fiscal union, a deep political operation. this is a different story. we have proposals on that which have nothing to do with the ecb. >> plenty for mario monti to ponder as he takes on the task of turning the italian economy around. his country is too big to fail but too big to bail. the eurozone needs him to the liver. >> and we share our thoughts about the situation. we agree that the...
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Nov 18, 2011
11/11
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mr. cameron because of the crisis in the eurozone. when david cameron and angela merkel have met before, the chemistry between them has seemed good. when they sit down in berlin later today, there will be tough issues on the table, issues at the heart of europe. how deep should integration be? how far should individual countries be inside the euro tent and how to keep that tent from weathering the storms of the financial markets. the german leader wants ever closer cooperation. >> of course there are contentions. this demands a great deal of political sensitivity from us, but i personally want a europe with great britain in it. >> mr. cameron talks of a more flexible vision of a network. >> one with the flexibility of a network, not the rigid of a bloc. >> the money traders will be watching carefully. they know there are real differences in these positions. david cameron is expected to ask mr. merkel to use the european central bank as the lender of last resort to eurozone countries in trouble. but germany is opposed to anything that smacks of printing money. berlin thin
mr. cameron because of the crisis in the eurozone. when david cameron and angela merkel have met before, the chemistry between them has seemed good. when they sit down in berlin later today, there will be tough issues on the table, issues at the heart of europe. how deep should integration be? how far should individual countries be inside the euro tent and how to keep that tent from weathering the storms of the financial markets. the german leader wants ever closer cooperation. >> of...
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Nov 24, 2011
11/11
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president sarkozy has said that he and mrs. merkel will issue new proposals soon. the problem is, all the longer term talk about three changes is doing nothing to calm immediate crisis that shows no signs of slowing down. >> your turfing about the german auction -- powerhouse germany does not seem to be safe. >> the german bond auction yesterday i think can be over interpreted. some of the talk yesterday suggested apocalypse now has arrived seem to be overblown. for example, the interest rates being offered and the bonds were so low that in some ways there was not much of a surprise there were not many takers. but as we have been saying for a while, this is not just a debt crisis but also a crisis of confidence. this has had confidence again. it has an effect in itself. the other thing we have been saying for a while is one way or another, germany will have to pay a lot to get out of this crisis. and they will probably have to pay more if they allowed eurozone to fall apart than it would do if they take tough decisions to hold it together. the real question facing
president sarkozy has said that he and mrs. merkel will issue new proposals soon. the problem is, all the longer term talk about three changes is doing nothing to calm immediate crisis that shows no signs of slowing down. >> your turfing about the german auction -- powerhouse germany does not seem to be safe. >> the german bond auction yesterday i think can be over interpreted. some of the talk yesterday suggested apocalypse now has arrived seem to be overblown. for example, the...
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mr and mrs merkel said. if you're a voter and no to the agreement to process it last week we would interpret this to be an old good result and the breaking the rules would throw you out but you assume this is a non-critical threat because there is absolutely no way legally to do that because and secondly financially economically if any member of the union so evenly. because she was thrown out of the whole of the eurozone collapses this is not a good girl this is a good reason for actually just being felt most harshly greece because greece is that we believe. the inability of the eurozone to deal with this crisis is symptomatic of state of denial about this being a systemic crisis of the eurozone and as long as the eurozone remains in the state of denial the euro will be history before too long and when it grumbles then the rest of the global economy is going to be significantly negatively affected. meanwhile economist downing it claims the raging financial crisis in a city will mark the total financial colla
mr and mrs merkel said. if you're a voter and no to the agreement to process it last week we would interpret this to be an old good result and the breaking the rules would throw you out but you assume this is a non-critical threat because there is absolutely no way legally to do that because and secondly financially economically if any member of the union so evenly. because she was thrown out of the whole of the eurozone collapses this is not a good girl this is a good reason for actually just...
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mr suttles and mrs merkel said that if you're ever and what is outside no to the agreement of brussels that last week we would end up at this to be an old euro zone and in fact the rule with us on this is a non-critical threat because there is absolutely no way legally to do that because it and secondly financially economically if any member of that unit so evenly build because he's thrown out the whole of the eurozone perhaps it's this is not a good guy this is a good as in practice which is being felt most harshly in greece because greece is that we believe of the problematic chain this inability of the eurozone to deal with this crisis is symptomatic of its state of denial about this being a systemic crisis think it has and as long as the eurozone remains in the state of denial the euro will be history before too long and when it crumbles then the rest of the global economy is going to be seriously significantly negatively affected. peaceful protests have descended into fresh violence in the city of oakland. at least one hundred demonstrators have been arrested. so this. week new yo
mr suttles and mrs merkel said that if you're ever and what is outside no to the agreement of brussels that last week we would end up at this to be an old euro zone and in fact the rule with us on this is a non-critical threat because there is absolutely no way legally to do that because it and secondly financially economically if any member of that unit so evenly build because he's thrown out the whole of the eurozone perhaps it's this is not a good guy this is a good as in practice which is...
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mr zazi and mrs merkel said that if you're ever and results in no to the agreement or process of last week we would interpret this to be an old but your is a political rule for us and this is a non-critical threat because there is absolutely no way you're going to look at people and secondly financially economically if any member figure so evenly be problematic because he's thrown out little hole of the eurozone collapses this is not a greek or this is a good as a practice which is being felt most harshly in greece because greece is that we link of the problem chain this inability of the euro zone to deal with this crisis is symptomatic of it's state of denial about this being a systemic crisis of the eurozone and as long as the eurozone remains in the state of denial the euro will be history before too long and when it crumbles then the rest of the global economy is going to be seriously significant negative effect. police in the u.s. are intensifying the crackdown on all compiled wall street protesters across the country scuffles broke out in washington when police moved in to arres
mr zazi and mrs merkel said that if you're ever and results in no to the agreement or process of last week we would interpret this to be an old but your is a political rule for us and this is a non-critical threat because there is absolutely no way you're going to look at people and secondly financially economically if any member figure so evenly be problematic because he's thrown out little hole of the eurozone collapses this is not a greek or this is a good as a practice which is being felt...
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mr suttles and mrs merkel said. if you're ever and what is outside no to the agreement of brussels that last week we will interrupt this to be an old euro zone and in fact the rule with us on this is a nonpolitical thread because there is absolutely no way legally to do that between brick and secondly financially economically if any member that you know so evenly build because he's thrown out the whole of the eurozone perhaps it's this is not a greek this is a good as a practice which is being felt most harshly in greece because greece is that we believe of the problematic chain this inability of the eurozone to deal with this crisis as is symptomatic of its state of denial about this being a systemic crisis think it does and as long as the eurozone remains in the state of denial the euro will be history for too long and when it grumbles then the rest of the global economy is going to be seriously significantly negatively affected. while grease scratches around for cash a major u.s. space financial firm has lost a w
mr suttles and mrs merkel said. if you're ever and what is outside no to the agreement of brussels that last week we will interrupt this to be an old euro zone and in fact the rule with us on this is a nonpolitical thread because there is absolutely no way legally to do that between brick and secondly financially economically if any member that you know so evenly build because he's thrown out the whole of the eurozone perhaps it's this is not a greek this is a good as a practice which is being...
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question what mr merkel thank you very much for being with us today five hundred is your idea of your purchase and it's close to its completion the experimenting members are about to walk out of this whatever you call it how does it feel it's been seventeen months are you nervous. at all and of course i'm anxious we were more anxious though when they just walked in now we're looking forward to the end of the experiment of course such extensive isolation will require the crew to spend some time in rehabilitation it will be hard work for us to analyze the results but the very fact that the team managed to stay the course is a source of delight. with what the program must be from the very start there has been much controversy over marse five hundred especially among professionals when i mean it's people say that you can become a formula one driver by spending a year and i have any driver see ordinary people who don't know much about the experiment are likely to ask was the purpose of spending fifty million dollars to isolate six able bodied men from the rest of the world or seventy not.
question what mr merkel thank you very much for being with us today five hundred is your idea of your purchase and it's close to its completion the experimenting members are about to walk out of this whatever you call it how does it feel it's been seventeen months are you nervous. at all and of course i'm anxious we were more anxious though when they just walked in now we're looking forward to the end of the experiment of course such extensive isolation will require the crew to spend some time...
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mr suttles he and mrs merkel said. if you're ever and no to the agreement or process that last week we've been talk of this to be an old figures and in effect the rule with us on this is a non-critical threat because there is absolutely no way legally to do that if you do it and secondly financially economically if any member of it you know so evenly build playing the problematic piece is thrown out the whole of the eurozone collapses this is not a greek this is a good as a crisis which is being felt for the most harshly to greece because greece is that we really. change this inability of a good result to deal with this crisis as is symptomatic of its state of denial about this being a systemic guys because and as long as the euro zone remains in the state of denial the euro will be history before too long and when he grumbled then the rest of the global economy is going to be seriously significant negatively affect. a lot of grease scratches around for cash for a major u.s. space program has lost seven hundred million
mr suttles he and mrs merkel said. if you're ever and no to the agreement or process that last week we've been talk of this to be an old figures and in effect the rule with us on this is a non-critical threat because there is absolutely no way legally to do that if you do it and secondly financially economically if any member of it you know so evenly build playing the problematic piece is thrown out the whole of the eurozone collapses this is not a greek this is a good as a crisis which is...
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mr suttles he and mrs merkel said we're going to if you're apart and let me know the agreement will brussels last week we will interpret this to be an old picket result and if it can be the referral you are with us on this is it non-critical for it because there is absolutely no way you can to put that if you will and secondly financially economically if any member that you are so evenly playing in problematic weeks is thrown out the whole of the eurozone collapses this is not a greek this is a good as a crisis which is being felt most harshly in greece because greece is that we believe all the people about a change and this inability of the eurozone to deal with this crisis is symptomatic of its state of denial about this being a systemic crisis the biggest and as long as the eurozone remains in the state of denial the euro will be history before too long and when it crumbles then the rest of the global economy is going to be seen or something significant could negatively affect. peaceful protest has the sense of fresh violence that california city oakland police moved in to break up. there
mr suttles he and mrs merkel said we're going to if you're apart and let me know the agreement will brussels last week we will interpret this to be an old picket result and if it can be the referral you are with us on this is it non-critical for it because there is absolutely no way you can to put that if you will and secondly financially economically if any member that you are so evenly playing in problematic weeks is thrown out the whole of the eurozone collapses this is not a greek this is a...
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mr suttles he and mrs merkel said. if you're ever and no to the agreement or process of last week we wouldn't have this to be an old euro zone and effectively ruled it fairly after years of this is a non-technical threat because there is absolutely no way legally to put people in and secondly financially economically if any member of the u.s. or even legal claim even if it might because he's thrown out of the whole of the eurozone collapses this is not a greek or this is a good as in fact it's just being felt you know it's harshly in greece because greece is that we believe of the problem of the chain and the inability of the eurozone to deal with this crisis as is symptomatic of its state of denial about this being is the only grice of the euro zone and as long as the eurozone remains in the state of denial the euro will be history before too long and when he rumbles then the rest of the global economy is going to be seriously significantly negatively affect. greece scratches around for cash but major u.s. based finan
mr suttles he and mrs merkel said. if you're ever and no to the agreement or process of last week we wouldn't have this to be an old euro zone and effectively ruled it fairly after years of this is a non-technical threat because there is absolutely no way legally to put people in and secondly financially economically if any member of the u.s. or even legal claim even if it might because he's thrown out of the whole of the eurozone collapses this is not a greek or this is a good as in fact it's...
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mr suttles e and mrs merkel said we're going to if you're ever and exults know that the agreement a process of last week we interrupt this to be an old picket result and in fact the rules are for a few of us on this is a nonpolitical fred because there is absolutely no way legally to pull that degree and secondly financially economically if any member of the u.s. so evenly build plainly problematically case is thrown out of the whole of the eurozone collapses this is not a greek or this is a good as in fact it is just being felt north harshly on greece because greece is that we link of the problem chain and this inability of the eurozone to deal with this crisis is symptomatic of it's state of denial about this being is terry gross figures and as long as the gears and remains in the state of denial the euro will be history before too long and when it crumbles then the rest of the global economy is going to be seriously significantly negatively affected. police in the u.s. are intensifying the crackdown and occupy wall street protesters across the country scuffles broke out in washington whe
mr suttles e and mrs merkel said we're going to if you're ever and exults know that the agreement a process of last week we interrupt this to be an old picket result and in fact the rules are for a few of us on this is a nonpolitical fred because there is absolutely no way legally to pull that degree and secondly financially economically if any member of the u.s. so evenly build plainly problematically case is thrown out of the whole of the eurozone collapses this is not a greek or this is a...
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see through that what was it disgraceful noncredit all led by france germany france that mr and mrs merkel said that if you're ever in the results you know to the agreement of brussels that last week we talked of this to be a no the euro zone and in fact the rule would throw you out of the euro zone this is a non-critical thread because there is absolutely no way legally to put that to begin with and secondly financially economically if any member of the eurozone even little problem of the greeks is thrown out the whole of the eurozone collapses so my message to the greek people indeed to all because in europe is do not take such incredible threats seriously really mean nothing. so what could be the consequences of the greek crisis for the year and for the global economy. this is not a greek crisis this is a eurozone crisis is which is being felt most harshly in greece because greece is that we link of the problem of the chain. the inability of the eurozone to deal with this crisis is symptomatic of its state of denial about this being is then we going to get us up and as long as they get
see through that what was it disgraceful noncredit all led by france germany france that mr and mrs merkel said that if you're ever in the results you know to the agreement of brussels that last week we talked of this to be a no the euro zone and in fact the rule would throw you out of the euro zone this is a non-critical thread because there is absolutely no way legally to put that to begin with and secondly financially economically if any member of the eurozone even little problem of the...
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mr supposing and mrs merkel said we're going to. europe and results in a no to the agreement a process that last week we wouldn't talk of this to be an old think it was all in effect the rule throw you off but use of this is a non-critical for it because there is absolutely no way you get into that if you do it and secondly financially economically if any member that you know so evenly be playing a problem because he's thrown out the whole of the eurozone collapses this is not a good this is a good as a practice which is being felt in most harshly in greece because greece is that we believe that probably about a change and the inability of the eurozone to deal with this crisis is symptomatic of its state of denial about this being is the only guys to get us out and as long as they get us on remains in the state of denial of the euro we kissed it before too long and when he grumbled then the rest of the global economy is going to be seriously significantly negatively affected. while grace scratches around for a cache of age a u.s. sp
mr supposing and mrs merkel said we're going to. europe and results in a no to the agreement a process that last week we wouldn't talk of this to be an old think it was all in effect the rule throw you off but use of this is a non-critical for it because there is absolutely no way you get into that if you do it and secondly financially economically if any member that you know so evenly be playing a problem because he's thrown out the whole of the eurozone collapses this is not a good this is a...
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mr suttles and mrs merkel said. if you're ever and you felt like no to the agreement across as of last week we will interrupt this to be an old figures and and if they can rule will throw you out yourself this is a noncritical for it because there is absolutely no way legally to do that if you do it and secondly financially economically if any member of the units or even little playing problematic piece is thrown out the whole of the eurozone collapses this is not a greek or this is a good reason that is just being felt the most harshly in greece because greece is that we believe of the change and this inability of the eurozone to deal with this crisis is symptomatic of it's state of denial about this being a systemic crisis of figures and as long as the eurozone remains in this state of denial the euro will be history before too long and when it crumbles then the rest of the global economy is going to be seriously significantly negatively affected. peaceful protests have descended into fresh violence in the. open.
mr suttles and mrs merkel said. if you're ever and you felt like no to the agreement across as of last week we will interrupt this to be an old figures and and if they can rule will throw you out yourself this is a noncritical for it because there is absolutely no way legally to do that if you do it and secondly financially economically if any member of the units or even little playing problematic piece is thrown out the whole of the eurozone collapses this is not a greek or this is a good...
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and the euro zone stood firm wife because again it's politics mrs merkel can't afford to spend any more money or she won't get reelected mr sarkozy he needs to get results and he's just had a complete disaster of the g twenty meeting where he promised so much and failed to deliver anything and therefore greece is now hanging on the end of a thread more or less dying to go over a cliff it's going to go bankrupt and it's probably going to take the euro zone with it and that really is a tragedy and i actually think for the rest of the euro zone it would be a lot better to throw out the rawest member of the night club at the moment and therefore hopefully everybody else will get back to their drinks and they will sit around and they will behave like good corporate citizens and acutely that means obviously italy because this is a big festering sore the problem of the italian government and it's complete so far inability to manage to get its house in order. coming up later in the program fighting corporate evil imbues flourishes we've done little more than widen the gap between rich and poor
and the euro zone stood firm wife because again it's politics mrs merkel can't afford to spend any more money or she won't get reelected mr sarkozy he needs to get results and he's just had a complete disaster of the g twenty meeting where he promised so much and failed to deliver anything and therefore greece is now hanging on the end of a thread more or less dying to go over a cliff it's going to go bankrupt and it's probably going to take the euro zone with it and that really is a tragedy...
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and the euro zone stood for why because again it's politics mrs merkel can't afford to spend any more money or she won't get reelected mr sarkozy he needs to get results and he's just had a complete disaster of the g twenty meeting where he promised so much and failed to deliver anything and therefore greece is now hanging on the end of a read more or less dying go over a cliff it's going to go bankrupt and it's probably going to take the euro zone with us with it and that really is a tragedy clever despite all this wrangling despite all this wrangling we why is the focus on saving greece rather than objecting it from the single currency do you know kevin i have no idea whatsoever i think the umbilical cord should be cut with greece immediately i mean we've been talking about this for weeks ultimately greece itself is incapable of staying within the kind of austerity regime that the euro zone wants to force it into and i actually think for the rest of the euro zone it would be a lot better to throw out the rawest member of the night club at the moment and therefore hopefully everybody
and the euro zone stood for why because again it's politics mrs merkel can't afford to spend any more money or she won't get reelected mr sarkozy he needs to get results and he's just had a complete disaster of the g twenty meeting where he promised so much and failed to deliver anything and therefore greece is now hanging on the end of a read more or less dying go over a cliff it's going to go bankrupt and it's probably going to take the euro zone with us with it and that really is a tragedy...
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manufacturing ironically economically they are now taking over the whole of the eurozone and i think mrs merkel finds herself reluctant the old boss in europe today those are is just i didn't mean necessarily germany specifically but more broadly the reemergence of a player like that who try to use force for control of the continent you're not afraid of that at all if there's disintegration. look when you strip from pretty pulled democracy when you take away from people variability through the ballot box to determine their own future you leave them with only one option and that option is civil disobedience or civil disorder but i am very strongly of the thought that if we continue with this project trying politically to unify all these countries under a government that we can't even elect and we can't even get rid of the people will take matters into their own hands so far from this leads to peace and harmony it's actually doing the opposite out it will see and it's beginning to see already the reemergence of the very extreme nationalisms the cause the problem in the first place this is not goi
manufacturing ironically economically they are now taking over the whole of the eurozone and i think mrs merkel finds herself reluctant the old boss in europe today those are is just i didn't mean necessarily germany specifically but more broadly the reemergence of a player like that who try to use force for control of the continent you're not afraid of that at all if there's disintegration. look when you strip from pretty pulled democracy when you take away from people variability through the...
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the crew over the opportunity to take their own decisions or introduce changes from time to time mr merkelthank you very much for this interview thank you. i. soon which right if you knew about the song from songs to pressure. me please don't top teeth don't come. welcome back this is honestly the headlines the greek prime minister says he is ready to squash plans for a referendum on an e.u. bailout of the proposal sparked an uproar in europe and the parliamentary walkout it. also agrees dominated the first day of the g twenty in france where world leaders have been discussing how to tackle the financial crisis facing the eurozone and prevent a global economic downturn. also britain is reportedly helping the u.s. finalize plans for a possible preemptive strike on iran's nuclear installations as concern grows of a terrence in richmond capability. the gray green threat next we'll take a look at the radical environmental groups that will go to any length to support their cause that's in our special report eco warriors stay with us.
the crew over the opportunity to take their own decisions or introduce changes from time to time mr merkelthank you very much for this interview thank you. i. soon which right if you knew about the song from songs to pressure. me please don't top teeth don't come. welcome back this is honestly the headlines the greek prime minister says he is ready to squash plans for a referendum on an e.u. bailout of the proposal sparked an uproar in europe and the parliamentary walkout it. also agrees...
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steve, we understand mr sarkozy and angela merkel will exchange words on the phone. >> you wonder whether there some sort of subtext where this was known about and it is part of a plan. you do not get that sense in berlin. the fact that this phone call is now going to happen makes it seem like this is a surprise to those two people. it is a surprise. there are various issues. one is -- the deal done five days ago, is it now being undone? two, the manner in which the news of the referendum is being communicated to the other members of those 17 nations in the eurozone. >> it's interesting listening to papandreou. he seems confident the greek people will essentially back the plan. >> yes, i presume. remember, i am and berlin. i presume he is playing a high- stakes game. he is certainly playing a high- stakes game. he has raised the stakes by saying to the greek people, " make up your mind." you either bold with this and we stay in the euro, or you vote it down. maybe that is the political game that is being played. you then wonder why other leaders were not taken on board given the events in
steve, we understand mr sarkozy and angela merkel will exchange words on the phone. >> you wonder whether there some sort of subtext where this was known about and it is part of a plan. you do not get that sense in berlin. the fact that this phone call is now going to happen makes it seem like this is a surprise to those two people. it is a surprise. there are various issues. one is -- the deal done five days ago, is it now being undone? two, the manner in which the news of the referendum...
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well i think chancellor merkel and mr saul cause you assume that because it all want to use a lot. of property laws is a blogger squabbling political parties. with a little window of opportunity if you will to administer the scope of august and. i think that's a very sort of naive and short so to. some should i think that the power brokers in berlin and france are really parochial or not all people are really forgotten how democracy works and you can push people only true far on pierson's will bring gallagher america's merits professor of politics at the grove university in the u.k. thanks ever so much for your thoughts. this is it was on life you denied r.t. dot com where tonight russia's anti drug czar vows to get to the root of afghanistan's a taurus heroin production and says the u.s. needs to do more we've got the details of this high tech plan to play online tonight and how's this for a real page turner it is the world's biggest corral and you're looking out there and i could lead one of the most decorated to find out why it's come to russia great pictures on our website r t
well i think chancellor merkel and mr saul cause you assume that because it all want to use a lot. of property laws is a blogger squabbling political parties. with a little window of opportunity if you will to administer the scope of august and. i think that's a very sort of naive and short so to. some should i think that the power brokers in berlin and france are really parochial or not all people are really forgotten how democracy works and you can push people only true far on pierson's will...
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a separate meeting with merkel, mr.d resolving the crisis, the greek crisis is the goal of the summit. >> this is going to be a very busy two days. central to our discussions with the g20 how do we achieve greater global growth and put people back to work. that means we're going to have to resolve the situation here in europe. >> reporter: but that's unlikely to happen in the next two days or even the next two months. prime minister papandreou's decision to let voters decide whether to go through with the budget cuts he actually agreed to in exchange for continued loans from the e.u. led the europeans to cut off the loans which are being used to pay greek government workers and pensions. the prime minister wouldn't back down. >> we need to have a wide consensus because the program we are facing is difficult, it is difficult in implementation and but i believe the greek people want us to be a strong partner in the euro and the eurozone and a strong partner in europe. >> reporter: meanwhile u.s. officials believe greece m
a separate meeting with merkel, mr.d resolving the crisis, the greek crisis is the goal of the summit. >> this is going to be a very busy two days. central to our discussions with the g20 how do we achieve greater global growth and put people back to work. that means we're going to have to resolve the situation here in europe. >> reporter: but that's unlikely to happen in the next two days or even the next two months. prime minister papandreou's decision to let voters decide whether...
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Nov 2, 2011
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mr. papandreou will be holding talks with president sarkozy of france and the german chancellor, angela merkel, when they all meet later in the day ahead of a g-20 meeting. mr. papandreou also shocked some of his own party, although his cabinet has come out in support. this from keith doyle. >> athnents early hours of this morning, and after a seven-hour meeting, the greek cabinet unanimously backed its prime minister, who yesterday shocked an infuriated european leaders. george papandreou announced a delicate deal that was put together just last week by the rest of the eurozone to save greece and the euro from crisis will now be voted on by the greek people in a referendum. the rescue package would halve greece's debt to banks, but it owes so much that its people would still face years of economic hardship. in holding a referendum, the greek prime minister is effectively asking his people to vote for tough times within the euro or possibly even tougher times outside it. in a statement, the prime minister said the referendum will be a clear mandate and a clear message in and outside greece on
mr. papandreou will be holding talks with president sarkozy of france and the german chancellor, angela merkel, when they all meet later in the day ahead of a g-20 meeting. mr. papandreou also shocked some of his own party, although his cabinet has come out in support. this from keith doyle. >> athnents early hours of this morning, and after a seven-hour meeting, the greek cabinet unanimously backed its prime minister, who yesterday shocked an infuriated european leaders. george...