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Greece wants G20 review of financial speculation

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Greece wants G20 review of financial speculation


What to do about Greece’s debt crisis will be examined at the next summit of the Group of 20 leading nations.

Athens blames financial speculation for worsening the country’s problems and wants the G20 to discuss curbs.

Speaking after meeting the US President Barack Obama at the White House to celebrate Greek Independence Day, the country’s prime minister was already taking action to address the problem.

“We are doing what it takes with determination and credibility to steer our economy on a new path, a viable path for the future,” said George Papandreou.

The meeting with Obama is part of four-nation tour aimed at boosting Greece’s financial credibility and winning major support for more favourable interest rates for loans as Papandreou tries to shore up investor confidence in Greece’s ability to get through its budget crisis.

But the initiative is not going down well back home with many government workers.

Amid threats of strike action, hundreds took the streets of Athens again in protest at last week’s introduction of austerity measures.

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