G20 Leaders Work to Secure World Economic Recovery
News of the debt crisis in Europe, particularly Greece and Italy, is steaming up social media streams today, as leaders of the G20 Summit wrapped up their discussion in France, regarding ways to fire up the International Monetary Fund (IMF), a global institution working to secure financial security around the world.
According to the New York Times, Italy has “invited” the IMF to monitor the country’s books every three months to ensure economic reform. As for Greece, the nation is in a state of wait, as the European Union and IMF have postponed installments for the country’s next bailout of eight billion euros.
“Greece should decide whether it will go together with the euro zone or not,” said French President Nicolas Sarkozy, “We want to be with Greece, but to do so, there are rules to respect. Violating them cannot be tolerated.”
While a number of countries spanning the globe offered up money for Europe’s aid, President Obama and the United States sat this one out. Obama said the world leaders at the G20 Summmit are making progress in economic recovery, and acknowledged that all countries will be significantly impacted by the results.