Saturday, November 5, 2011

Statement of EU leaders following first day of G20 summit (it's all Greek to me)

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Statement by EU Leaders on the 1st Day of the G20 Summit

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EU Newsbrief
Finance/Economics

Statement by EU Leaders on the 1st Day of the G20 Summit

In a joint statement issued on the first day of the G20 Summit in Cannes,
European Commission President José Manuel Barroso and European Council
President Herman Van Rompuy said that "the Euro area stands ready to
continue to support Greece, but Greece needs to stick to the agreed package
of October 26-27 and in particular to continue with the implementation of
the EU/IMF program. This needs to be crystal clear. We want Greece to remain
in the Euro."

Addressing the global economic situation, the statement noted that "the
financial market turmoil has intensified and global growth has slowed while
unemployment is rising. Only with ambitious action by all, we will be able
to generate new growth and get the 200 million unemployed worldwide back to
work. This outlook is true not only for Europe, but also for the United
States and some emerging market economies. We all experience difficulties,
we all have to contribute to a solution. Interdependence is today's
reality."

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