President Obama Heads to France for the G-20 Conference

By: Susan McGinnis Email
By: Susan McGinnis Email

WASHINGTON 11/03/2011 -- President Obama set out for France, hoping to encourage European leaders to solve their debt crisis for good.

He'll meet with the presidents of France and Germany before the G-20 summit officially kicks off today.

Ahead of the two-day session, EU leaders held emergency meetings to discuss Greece's 178 billion dollar bailout package.

The rescue plan seemed like a done deal last week, but now the country's prime minister is calling for a national vote infuriating his counterparts.

"I believe that the Greek people, as i said, are wise and capable of making the right decisions for the benefit of our country," said Greek Prime Minister George Papandreou.

Greece is slated to hold the referendum next month. The main fear is that a "no" vote could trigger a *global* recession.

With his own economic crisis to deal with here at home, President Obama is expected to bring his advice to the table but the White House insists the US won't be helping with cash.

"The focus here is a European problem that requires a European solution, for which the Europeans have the resources and capacity necessary," said White House Press Secretary Jay Carney

As the summit gets underway, hundreds of protesters are expected to swarm the French Riviera and urge leaders to protect the people not the big banks.


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