Fresh economic, political turmoil may await Harper at G20 summit in Mexico - InfoNews

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Fresh economic, political turmoil may await Harper at G20 summit in Mexico

June 14, 2012 - 1:58 PM

OTTAWA - When Prime Minister Stephen Harper arrives in Mexico for next week's summit of the world's 20 most important economies, fresh political and economic turmoil might be waiting for him.

While Harper is on his way to the G20 summit in Los Cabos, which gets underway Monday, Greeks will go to the polls in a vote that could send ripples through financial markets.

The results of Greece's election may set the stage for the country's exit from the 17-member bloc of nations that use the euro.

Many Greeks strongly reject the tough austerity measures — including cuts in public sector pay and pensions — imposed upon Greece in return for its two multibillion-euro rescue packages to help pay off the country's massive debt.

Last month, Greek voters punished politicians who backed the belt-tightening in favour of fringe parties that promise to ditch the austerity measures that were a condition of receiving the bailout deals.

If enough Greeks decide to vote for the anti-austerity parties in Sunday's election, it could result in the country defaulting on its debts and getting kicked out of the eurozone.

News from © The Canadian Press, 2012
The Canadian Press

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