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G20 Summit overshadowed by euro crisis

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G20 Summit overshadowed by euro crisis


It was a case of carry on smiling as world leaders posed for a group photo at the G20 summit in Cannes on Thursday.

But some of those smiles may have been through gritted teeth, as the instability in Greece threatened to derail prospects of the euro zone’s plans to stem the sovereign debt crisis.

It’s clear that the financial state of one relatively small nation is overshadowing all other business.

European Commission President José Manuel Barroso said he was deeply worried by the scale of the Greek debt burden.

“Greece is in one of the most economically critical situations a country can find itself in. They are on the brink of bankruptcy. If there is not an adequate response they won’t have the money to pay for schools, for hospitals and for the basic functioning of the state”.

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