To the Point
G-20 Meets amidst Crisis in the Eurozone
The Greek referendum turned the G-20 Summit into a crisis meeting. Also, bi-partisan demands on the Supercommittee, and the blame game in Republican presidential politics.
By Warren Olney • • 50m ListenThe 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
In this episode
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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 .
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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.
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