World Leaders Meet to Avert Financial Crisis

Greek debt crisis dominates G-20 meeting in Cannes, France.
1:51 | 11/02/11

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Transcript for World Leaders Meet to Avert Financial Crisis
World leaders including President Obama are pouring in to France can they do something. That will stabilize the world economy ABC's David Norton is intense set out to answer that question for us tonight. Diane good evening from France tonight where there is a real sense of urgency leaders from all over the world coming here President Obama on his way here this evening to essentially deal -- what's becoming. A worldwide economic emergency. What to do to save Greece from collapse and what it's already doing to American for a one case -- -- The Mediterranean backdrop is deceiving yachts lined the docks and movie stars come every year for that famous film festival. But this trip is to prevent an economic -- for playing out in real life. The protests already under way here in neighboring -- Just a few days ago everyone thought there was a deal Europe would bail Greece out. Keeping European and American banks and every -- investors from being looked with the bill. Thinks of that deal the average American 401K about 107000. Dollars recover prudently. A 12% increase in October of recovery of 111340. Dollars in just one month alone. But then this week the sudden and bold move by Greece's prime minister allowing the Greek people to vote on the bill -- directly there's no telling what he'll do. It because of that uncertainty already does -- American for -- one case that had just recovered some 111000 dollars. Lost 5600 dollars half of 4 October games gone -- just two days. Tonight here France's president the German chancellor -- summoning the prime minister of Greece here early. It's widely believed their essentially reading him the riot act saying putting this up for a vote now. Is gambling with the worldwide economy President Obama here first thing in the morning to add to that pressure. Knowing full well what this is already doing to for a one case -- call.

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