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Crisis Talks In Cannes Over Greek Bailout Plan

After a bad day Tuesday, financial markets are faring better so far today.

But investors' eyes are on the French resort of Cannes, where Greek Prime Minister George Papandreou "faces a grilling from the leaders of Germany and France" later today, as Reuters says, because of his decision to let the people of Greece vote on whether to accept a $178 bailout package that will impose further austerity measures on that nation.

Bloomberg News says "European leaders racing to prevent their week-old debt crisis strategy from unravelling convene emergency talks today to tell Greece there is no alternative to the budget cuts imposed in the bailout plan."

Copyright 2021 NPR. To see more, visit https://www.npr.org.

Mark Memmott is NPR's supervising senior editor for Standards & Practices. In that role, he's a resource for NPR's journalists – helping them raise the right questions as they do their work and uphold the organization's standards.
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