EURO-ZONE AT TOP OF LIST
The United States President commenced the G8 summit with the dinner along the leaders all round the world.
The main issue that is likely to be discuss in the G8 summit is the crisis which is currently prevailing in the European zone and that is likely to cover the most of the issues and the topics that exists in suffering European countries
The newly elected President of France maintains the same opinion that Greece should not be ruled out of the euro zone ,they want to reach a conclusion about for this in the recent G8 summit
Greece’s stand in government failed to develop a coalition to run the country as the new election are expected to be held on June 17 th.
The fate of the austerity measure measure will be decided by that time as the international creditors are forcing them to take measure to cope with the current situation.
There are dangers that if the Athens refused to implement the cuts as expressed in the recovery plan they could result in the country becoming a stoppage for 17 countries that have euro as their currency
Countries like Spain and Italy which are striving to calm down the current financial tension to avoid becoming more vulnerable ,potentially initiating the European upheavan.
British Prime Minister was also attended Mr.Hollande in United States
The British Prime minister said that Greek have to decide whether to depart from the Eurozone or not
The Greek stand in Prime minister argued that Mrs.Merkel gave an option that the country should conduct a referendum among the Euro member on the election day but this suggestion has been ruled out by the German Chancellor’s cabinet and have termed as false.