U2, Radiohead, Perry Farrell Ask World Leaders To Wipe Out Third World Debt

U2's Bono and The Edge, Radiohead's Thom Yorke, Perry Farrell, world music artist Youssou N'Dour, and Live Aid founder Bob Geldof traveled to Cologne, Germany over the weekend to attend the G-8 summit of world leaders.

On Saturday, the musical collective handed German Chancellor Gerhard Schroeder petitions asking that $200 billion in third world debt be dropped, according to Jubilee 2000, the organization sponsoring the campaign.

In order to raise awareness for the cause, the former Jane's Addiction and Porno For Pyros frontman performed at the House Of Blues in West Hollywood last week along with Sean Lennon and Cibo Matto.

"If we continue at this rate," Farrell told MTV News at the benefit, "the third world will never be able to catch up and be a first world with us, because at the rate that they borrow money, every dollar that we lend them, they pay us back nine, and these places can never, never

repay that debt." [RealVideo]

The artists-turned-activists, along with Jubilee 2000, got the G-8 leaders to agree to delete $70 billion in debt and continue to work on the remaining amount until the end of the year.