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G-20 Leaders awake to Euro crisis!

By
Real Estate Broker/Owner

 

 

World leaders meeting at a G20 summit in Mexico have urged Europe to take all necessary measures to overcome the eurozone debt crisis.

Most of them have been asleep for 4-5 years then if they are now waking up to this issue.

They voiced unease over what one top official described as "the single biggest risk for the world economy".

But European Commission President Jose Manuel Barroso said "the challenges are not only European, they are global".

Sunday's victory of a pro-bailout party in the Greek election did not give stock markets the expected boost.

Antonis Samaras, the leader of the New Democracy party that narrowly won the poll, has now begun urgent talks to form a coalition.

Mr Samaras also reiterated that he would seek changes in the terms of a bailout agreement reached with the EU and IMF.

So, was this a victory for the Euro or another 2 months of watching the walking dead?

BBC World Service economics correspondent Andrew Walker says that while Europe is clearly the big danger, there are also problems elsewhere in the world's major advanced and emerging economies, starting with the two largest national economies, the US and China.

The slowdown in India is something else for the G20 to fret about at the Mexican resort of Los Cabos, our correspondent adds.

Don't worry, they will all be frisked when leaving to make sure they are not carrying Mexican drugs.

Comments(2)

Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

Crisis? What crisis? We just need to print more money or have those wealthy countries give us more 'economic stimulus' money (that we use to pay our socialist programs). It doesn't stimulate the economy, but it gets me re-elected! /snark

Jun 19, 2012 01:08 AM
Dale Terry
Yadkinville, NC

Thanm what you would call sarcasm, others call fiscal policy.

Jun 19, 2012 10:58 AM