Greek Crisis Overshadows EU Summit

Posted June 23rd, 2011 at 2:45 am (UTC-5)
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European Union leaders meet Thursday and Friday in Brussels for a summit that will largely focus on Greece's financial meltdown.

The leaders are expected to discuss ways to help Greece avoid debt default and regain financial stability.

EU leaders are looking for economic reform from Greek Prime Minister George Papandreou's government, which won a crucial confidence vote in parliament Wednesday.

Eurozone governments will decide on July 3 if Greece has moved far enough ahead with sharp economic reforms for Athens to receive the next $17 billion of last year's promised $160-billion bailout funds.

Aside from the European economic concerns, the EU summit will consider internal border controls in an effort to stem the flow of illegal migrants. EU leaders are also expected to discuss Libya, economic sanctions for Syria, and possible Palestinian statehood.