Fox News
Expand
Browse All Video
Watch Live

You're watching...

Bracing for elections in Greece

Details

  • Description

    Potential impact of vote on world economies

  • Duration 2:55
  • Date

Clips

Also in this playlist...

Editor's Picks

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Wall Street doesn't seem too worried about what could be major changes in Europe.

The Dow finished opt for a second straight day gaining 115.

The S&P 500 picked up fourteen NASDAQ finished ahead thirty sex.

Greeks addicted to deficit spending -- try to decide this weekend whether to stick with their budget austerity plan -- goal are radically different broke.

Senior foreign affairs correspondent Greg Powell got tells us what's that step.

-- -- in Greece goes to the polls Sunday in an election that could have an impact on economies in Europe and the United States.

-- -- a reason party tapping unrest has been the front runner.

It wants to stay in the European common currency the Euro but it wants out of austerity filled bailout packages.

And I won't -- names.

My goal investments LC -- Saturday.

-- five plus I think it's there.

-- -- -- European Union officials say if that happens they'll cut off funds that's boosted the conservative pro bailout new Democracy Party we can't play poker or dice with grace says new democracy leader and -- us some.

Europe is girding for the worst the Bank of England says it will inject 200 billion dollars into the UK economy via cheap loans.

We are not powerless in the face of the -- in debt -- -- -- that we could deploy new fire house.

To defend our economy from the crisis on our doorstep.

The European Central Bank sounded ready as well it -- economic dominoes falling across Europe Spain and Italy had trouble raising funds this week.

Europe's biggest economy Germany showed few signs of pitching in.

-- not it's Germany will not be convinced by all the quick solutions German chancellor Angela miracles said if we agree we were politically make the same mistake the markets have made.

All these year old woes have the US worried American banks have big stakes in European institutions.

US European trade is worth 600 billion dollars a year.

A slow down a broad hurts any recovery stateside.

President and his economic team I have been working very closely with their European partners.

And we obviously bring a lot to the table in terms.

Our own experiences and the tools and approaches we have used in our own financial crisis.

White House critics say Europe's threatened financial Armageddon is a warning for those in Washington to interest it and expanding the public sector and not concerned enough.

About ballooning debt or not -- -- as Greece says but we're moving down that path.

And eventually creditors -- -- want higher interest rates -- that.

The White House says that much of this -- -- taken up at the G-20 economic summit set for Mexico next Monday and Tuesday.

By then the result of the great collection should be known and the financial world should be reacting timing is everything Chris.

Greg thank you.

Load More