Tuesday, January 31, 2012

EU leaders to discuss growth as Greece case looms

Prime Minister Lucas Papademos leaves his office after meeting the leaders of the three parties backing his coalition government in Athens on Sunday, Jan. 29 2012. Following the meeting, Papademos has released a statement saying he and the party leaders were in "complete agreement" over the positions to adopt in subsequent talks toward a 130 billion euros bailout for Greece and a bond swap agreement with private creditors. (AP Photo/Kostas Tsironis)

Prime Minister Lucas Papademos leaves his office after meeting the leaders of the three parties backing his coalition government in Athens on Sunday, Jan. 29 2012. Following the meeting, Papademos has released a statement saying he and the party leaders were in "complete agreement" over the positions to adopt in subsequent talks toward a 130 billion euros bailout for Greece and a bond swap agreement with private creditors. (AP Photo/Kostas Tsironis)

(AP) ? European leaders will try to come up with ways to boost growth despite steep budget cuts across the continent when they meet in Brussels on Monday.

The 27 heads of state and government will get a taste of the popular frustration with austerity and high unemployment as they try to get to the summit in a city paralyzed by strikes.

While the official theme of Monday's meeting is boosting growth and jobs, the elephant in the room will be Greece.

Leaders aren't expected to make any decisions on a new massive bailout for Greece until international debt inspectors have issued a new report on the country's finances.

Athens' euro partners have grown frustrated with its slack implementation of spending cuts and reforms almost two years after first receiving international aid.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-30-EU-Europe-Financial-Crisis/id-f376c59f7c07441c8f4cee3e3c88a896

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