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G20 summit: Leaders alarmed over eurozone crisis

World leaders meeting at a G20 summit in Mexico have urged Europe to take all necessary measures to overcome the eurozone debt crisis. 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, which narrowly won the poll, is holding urgent talks to form a coalition with the socialist Pasok party and possibly the smaller Democratic Left party.

Mr Samaras earlier reiterated that he would “have to make some necessary amendments” to the terms of the bailout agreement reached with the European Union and International Monetary Fund (IMF), “in order to relieve the people of crippling unemployment and huge hardships”.

But German Chancellor Angela Merkel appeared to dismiss the idea.

“The new Greek government has to implement the commitments entered into by the country. The programme framework has to be kept,” she said

Read the full story on BBC News

Category: World News |

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Last updated December 8, 2016 at 12:39 AM
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