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setUoYouRPROFILE's blog: "tufui"

created on 08/25/2011  |  http://fubar.com/tufui/b343104

Later in the evening, Mr. Papandreou arrived to join them. He walked alone into the Palais des Festivals, near handprints in concrete of the building's usual visitors--Meg Ryan, Angelina Jolie and Catherine Deneuve. After his meeting, it appeared the European leaders had scored one victory by pulling the referendum forward to early December. Greek officials had earlier signaled that it would be held in January, after the completion of negotiations on a new Greek bailout.burberry outlet cheap Instead, there seems to be agreement on an earlier referendum. If successful, it would clear the way for a broad mandate to continue pressing cuts on Greece. Europe had hoped this G-20 summit would have been a chance to demonstrate to the rest of the world that it has its debt crisis under control. An all-night euro-zone meeting just last week had fashioned a "comprehensive" plan to aid Greece, bolster the bloc's bailout fund and recapitalize the region's banks. That is now in tatters, and the image Europe is presenting is one of more confusion and uncertainty than ever. That is particularly damaging considering how much Europe now needs the rest of the world. Voters in Germany and other strong countries in the euro zone's north have insisted they will provide no more money to propping up Greece and the rest of the periphery. Thus the European Union is turning to China and other emerging countries with surplus cash. Mr. Sarkozy held a dinner with Chinese premier Hu Jintao Wednesday; no specific commitments emerged from that meeting, and the Chinese have said they want more detail and clarity from Europe on its plans. Mr. Papandreou stunned Europe and financial markets this week by calling for a plebiscite on the latest, €130 billion ($178 billion) rescue package for Greece, which is tied to deeper austerity policies in the economically suffering country as well as the restructuring of Greek bonds.

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