I want to do a tv news type set up for an upcoming film. Can green screen be done on this camera?

green screen can be done on any camera, and it is mostly about your lighting and editing skills,
for better results I would recommend you to flip 60D vertically and shoot 60p

Why shoot in 60p? It'll be 720p so more downscaling and line skipping will be occurring, right?

I want to do a tv news type set up for an upcoming film. Can green screen be done on this camera?

portfolio.html (http://www.epictalentmedia.com/portfolio.html)

Check the newscast there, that was done with my 550d and Sony Vegas/After FX combo.