reporter: that is unlikely to happen in two days or even two months. greece is not the only country that is threatening the eurozone and it is possible that italy, spain, and perhaps portugal s government could face these problems. shepard: the prime minister has had a change of heart on this plan to hold a referendum. what is the deal? reporter: well, you mean the greek prime minister? he is not even a member of the g20 but chance lore chancellor merkel and sarkozy invited haddism to cannes and read him the riot act and wanted papandreou that greece would not get next week s loan payment to cover government salaries and pensions until the budget cuts he agreed to were approved. the french president sarkozy called it electric shock treatment. that is where we can go, this
american who is not use to that kind of cooperation but at the end of the day the greeks are small potatoes compared to, say, france, or germany. a small country. it is their debt which is so huge that $480 billion or so euros is so big it threatens all of us. shepard: been to santorini? gerri: i should go back now. shepard: if they go back to the drachma, you can drink cheap beer. gerri: i ll drink beer any time. shepard: switch over to the gerri willis for fascinating business news. and there were 397,000 new applications for jobless benefits, which is 9,000 fewer than the week before, and only