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G-20 wants Europe to solve its economic/political crisis. “Merkozy” tandem pressing Greece.

Europe security News.- Smiles between Greece's Prime Minister Papandreou, European Council President Van Rompuy and EC President Barroso. That happen before Papandreu decided to start with a political crisis in Greece, Photo Credit to Reuters

BRUSSELS—This week’s summit of the Group of 20 industrial and developing nations in Cannes must match Europe’s crisis-resolution efforts and address long-standing issues that hamper the global economy, key European leaders said in a letter to their G-20 partners late Saturday.

European Council President Herman Van Rompuy and European Commission President José Manuel Barroso cited the decisions made at last week’s euro-crisis summit—including the write-down of 50% for Greek bond holders, the leveraging of the European bailout fund and longer-term plans to strengthen economic governance in the European Union—as the kind of coordinated action needed to help revive the world economy.

“The EU’s contribution to Cannes is the above-mentioned package to ensure the stability of the euro area. But more needs to be done at the global level,” Messrs. Van Rompuy and Barroso wrote.

The G-20 summit, planned to take place in Cannes on Nov. 3 and 4, should deal decisively with…READ MORE HERE