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The on-again, off-again referendum in Greece has turned the G-20 Summit into a crisis meeting instead of a demonstration of economic stability.  What's next for the European Union and what are the consequences for global prosperity? Also, a bi-partisan group of lawmakers say the Supercommittee must consider revenue increases as well as spending cuts, and the blame game in Republican presidential politics.

Banner image: In this photo provided by the German Government Press Office, German Chancellor Angela Merkel (R) and Greek Prime Minister George Papandreou (L) talk over Eurozone bailout plan ahead of the G20 summit on November 2, 2011 in Cannes, France. Photo by Guido Bergmann/Bundesregierung-Pool via Getty Images

Making News Supercommittee Must Consider Revenue Increases, Spending Cuts 7 MIN, 20 SEC

There's been increased pessimism that the so-called Supercommittee can meet its deadline for getting the national debt under control. But today bipartisanship has broken out. Forty House Republicans and 60 Democrats have made a joint call for both increased revenues and entitlement cuts. Matthew Cooper is Editor of the National Journal Daily.

Matthew Cooper, National Journal Daily (@mattizcoop)

Main Topic Greek Brinksmanship, the European Union and the G-20 Summit 34 MIN, 24 SEC

In Cannes today, Greek Prime Minister George Papandreou met for two and a half hours with Germany's Angela Merkel and Nicolai Sarkozy of France. Then Papandreou went home and told his parliament he was calling off his controversial referendum on the massive bailout designed to keep Greece part of the European Union. But that's only added to the uncertainty facing the G-20 Summit meeting in Cannes. Nobody knows what Papandreou might do next. Even if there's still support for the bailout, it's unclear where $1.5 trillion will come from, especially with US influence on the wane. Is the EU a safe bet for China?  What will China demand in exchange? Is the effort to demonstrate European economic stability now in a shambles?

Doug Saunders, Globe and Mail
Nick Malkoutzis, Macropolis (@NickMalkoutzis)
Karsten Voigt, German Council of Foreign Relations
Colin Bradford, Brookings Institution and Center for International Governance and Innovation
Matthew Elliott, Taxpayers Alliance

Reporter's Notebook Cain Blames Perry, Romney for Sexual Harassment Allegations 8 MIN, 30 SEC

Herman Cain says old charges of sexual harassment were dredged up by Rick Perry's campaign, which suggests that maybe they came from agents of Mitt Romney. The Cain blame-game has been going on for a week, and that's viewed as unprecedented by some hardy veterans of political circuses in the past. How much will it matter in the Republican presidential campaign? Ryan Lizza is Washington correspondent for the New Yorker magazine.



Ryan Lizza, New Yorker magazine / Georgetown University (@RyanLizza)


Warren Olney

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