4 Nov 2011

G20 meeting dominated by Greece

8:20 am on 4 November 2011

The Greek crisis is expected to dominate discussions at the G20 summit of world leaders in Cannes, France.

Before the opening of the summit, United States President Barack Obama said on Thursday the most important topic on the agenda was Europe's problems.

Eurozone leaders wanted to present the G20 with a clear action plan for economic stability, but developments in Greece have thrown that into disarray.

Other countries joined the chorus, with South Africa telling the eurozone to "get its act together".

A key part of the rescue package to be presented to the G20 was a plan to encourage wealthy emerging economies to contribute to expanding the European Financial Stability Fund.

However, China made clear on Thursday that it would not commit to the fund until there was more clarity on the situation in Greece.