Paris: French President Nicolas Sarkozy has defended the hard-fought European bailout plan for Greece as the only way possible to resolve its debt crisis, while bemoaning Greece's bombshell decision to put the plan to a referendum.
Sarkozy is scrambling to save Europe's face before he hosts leaders of the Group of 20 major world economies on the French Riviera later this week.
His ability to convince foreign leaders of Europe's abilities to steady its turmoil and attract foreign investment will suffer because of the Greek referendum decision, which throws the complex European plan into doubt.
The Greek prime minister's announcement "surprised all of Europe," Sarkozy told reporters in the courtyard of his Elysee Palace after hosting an emergency government meeting to discuss the Greek decision.
"The plan adopted last Thursday, unanimously by all 17 members of the eurozone, is the only way possible to resolve the Greek debt problem," Sarkozy said.
"Giving the people a say is always legitimate, but the solidarity of all countries of the eurozone cannot work unless each one consents to the necessary efforts," he said.
Sarkozy and German Chancellor Angela Merkel after speaking by phone Tuesday agreed to convene leading European institutions for more emergency talks Wednesday in Cannes to "examine with the Greek prime minister the conditions in which the commitments made will be kept."
Sarkozy did not elaborate, and left without taking reporters' questions.
The G-20 summit in Cannes is expected to focus on Europe's debt mess, and European leaders' latest efforts to keep the 2-year-old crisis from further dragging down the world Economy.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
More on IBNLive Right Now
TOP NEWS
MOST SHARED
PHOTOGALLERY
