G20 reaches no consensus

The G20 has not come up with a consensus on Europe’s Debt Crisis at its meeting in Mexico City.

According to the CBC, the representatives from the world’s leading economies have been working on a second global rescue package in order to stop the crisis from spreading.

It could be worth about 2 trillion US dollars.

The decision about bailout money has been postponed.

Head of the Organization of Economic Cooperation and Development (OECD) Angel Gurria said 1,5 trillion US dollars would be needed for adequate stabilization.

Germany’s parliament will vote on Monday on whether they will approve the bailout package already agreed on for Greece.

Canada and the US said they don’t want to put any more money into this unless Germany does it first.

A final decision about Europe’s bailout will be made at the G20’s next meeting in April.