- debt - eurozone - financial crisis - G20 - Greece
LIVE: Greek crisis dominates G20 Cannes summit
The Greek debt crisis is topping the agenda at today’s G20 summit in Cannes after Prime Minister George Papandreou announced Thursday that the country would hold a referendum on its bailout package. Follow the day’s events on our live blog.
Overview of the day's events:
- The G20 summit is being largely dominated by the Greek crisis, despite the country not being a member.
- Nicolas Sarkozy has said that Greece will not receive "one cent" if it breaks away from the eurozone via PM Papandreou's planned bailout referendum.
- The Greek prime minister rejected pressure to resign, warning that early elections would lead to an exit from the euro, and instead pledging to negotiate with the opposition conservatives.
-The French president told a press conference that European leaders “cannot accept the explosion” of the euro and welcomed Greece's decision to scrap a referendum on the Oct 27 European bailout.