WorldSigh of relief at G20 summit over Greek election

Photo: AP

Photo: AP

Photo: AP

Photo: AP

 

LOS CABOS, Mexico (AP) — The emerald-green lawns of the time-share condos and all-inclusive resorts seem to gleam in the bright sun as the surf rolls gently against the white-sand beaches of Los Cabos. Sometimes the only noise is the ruffling of palm fronds in the languid ocean breeze.

It’s an idyllic place to thrash out the terrifyingly uncertain fate of Europe and the global economy. Leaders of the world’s largest economies began to assemble Sunday in this Baja California desert resort just as Greece’s pro-bailout New Democracy party won the national elections, a vote for the financial status quo that could keep panic under control at least for now. A vote against the pro-bailout party could have forced Greece to leave the joint euro currency, a move that would have had potentially catastrophic consequences for other ailing European nations and the global economy.

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Posted on June 18, 2012, in Uncategorized and tagged , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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