Today's Coming Crisis Movie

Saturday, September 24, 2011

Six weeks to save the euro: Chancellor gives stark warning after another day of financial turmoil - 24th Sept 2011

World leaders were warned last night that they have just six weeks to save the euro from collapse.

On another day of gathering economic gloom, George Osborne savaged eurozone leaders for failing to get a grip on their towering debts.

The Chancellor set a deadline of six weeks – when leaders of the G20 group of leading countries will meet for crunch talks in France – for action.

He said: 'Patience is running out in the international community. There is a sense from across the leading lights of the eurozone that time is running out for them.

'The eurozone has six weeks to resolve this political crisis.'

Mr Osborne also signalled dramatic plans to prop up Britain's faltering economy, opening the door for a rescue plan that would see the Bank of England lend directly to struggling small businesses.

In other developments:

  • IMF chief Christine Lagarde said the challenge facing the world 'could not be more urgent';
  • World markets remained dangerously volatile, with Britain's leading firms seeing £78billion wiped off their value this week;
  • The G20 insisted it would take necessary steps to try to stop the eurozone crisis spreading;
  • Debt-laden Greece admitted for the first time that an 'orderly default' was an option;
  • Economists at the Royal Bank of Scotland predicted that Europe is falling back into recession.
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Question: Please use the comment box for your answer

Who is the President of EUROPE? (not allowed to Google it....)