Greek PM urges to rein in speculators

Greek Prime Minister George Papandreou has urged the Group of 20 to take the lead in efforts to rein in market speculators.

He warns that, if left unchecked, the Euro crisis could spark a new global financial crisis.

George Papandreou, Greek Prime Minister, said, "We need clear rules on shorts, naked shorts and credit default swaps. I hope there will be a positive response from this side of the Atlantic to bring this initiative to the G20 in its next meeting."

US Secretary of State Hillary Clinton (R) and Prime Minister of Greece George Papandreou (L) smile as they greet reporters at the State Department in Washington, March 8, 2010. REUTERS/Jonathan Ernst