TALK BUT NO ACTION: European leaders insist they want to keep Greece in the eurozone, but are putting off any agreement on how to accomplish that. Greece says it wants to stay, but it is uncertain whether it can implement the austerity that Europe demands. THE BACKGROUND: Concerns that European leaders lack the political will — and wherewithal — to tackle the continent's economic problems have worried the markets for weeks. Among the 17 countries that use the euro, seven are in recession. THE DILEMMA: In a general election this month, neither of Greece's two main parties, both of which support the recent bailout deal, fared well. Minor parties that are threatening to renege on those commitments saw their popularity surge. A new round of elections is set for June 17.
News Summary: EU running out of time on Greece
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European Council President Herman Van Rompuy, right, and European Commission President Jose Manuel Barroso, address the media at the end of an EU summit, at the European Council building in Brussels, Thursday, May 24, 2012. The leaders of the 27 countries that make up the European Union met in Brussels to try and find a way to keep the debt crisis in Europe from spiraling out of control and promote jobs and growth. Rompuy said that all EU leaders want Greece to remain in the eurozone while respecting its commitments to pay back its debt. (AP Photo/Yves Logghe)
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A blind demonstrator shouts slogans through a megaphone outside the interior ministry during a protest demanding welfare payments, in Athens, Thursday, May 24, 2012. People with disabilities have not received government welfare payments for two months. Greece has been caught in an acute financial crisis for two and a half years, and has only avoided bankruptcy through international rescue loans. (AP Photo/Petros Giannakouris)
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