Oval Office Chat Session: Obama and Merkel

Leaders Discuss Eurozone Situation

The President and German Chancellor Angela Merkel spoke by phone this morning to discuss the latest developments concerning the financial situation in the eurozone.  

The President thanked the Chancellor for her leadership andwelcomed last night’s agreement in Europe on a new rescue program for Greece to help reduce its debt to sustainable levels.  

The President and Chancellor agreed that the planned EU fiscal pact, recent actions by the European Central Bank and reforms by Spain and Italy have also been positive steps in addressing the eurozone crisis.  

The President and the Chancellor also discussed preparations for the upcoming G-8 Summit and agreed that the emphasis should be on growth and jobs.

Greek PM Resigns

Greek Prime Minister George Papandreou has agreed to resign in exchange for the opposition party's vote for an EU bailout.

Sources:BBCFox BusinessKathimeriniNew York TimesWall Street Journal

Watch video: http://www.newsy.com/videos/greek-pm-to-step-down-amid-austerity-woes/

By Victoria Craig

Anchor: Victoria Craig

Lin courtesy of Newsy.com

Greek Bailout in Trouble

Greece bailout may unravel without private sector investors' participation.

Sources:Financial PosteuronewsCNBCThe New York Times

Multisource political news, world news, and entertainment news analysis by Newsy.com

By Katie Brennan

Anchor: Katie Brennan

Video provided by Newsy.com