French President Nicolas Sarkozy had hoped the G20 summit in Cannes would be one of the crowning moments of his five years running France.
He had hoped to garner international praise for having come up, along with Germany, with a plan to revitalise Europe’s finances.
Instead he is presiding over a summit that looks as though it is being buffeted to and fro by outside forces.
“The euro implies duties as well as rights, of course, for all those taking part. All members of the eurozone must stick together, there must be solidarity towards all the other members. But a minimum number of rules have to be followed; we cannot accept the explosion of the euro, as that would mean the explosion of Europe itself,” he insisted.
Let us not forget this is the G20; the world’s most developed nations meeting, not just Europe. But for the moment Europe appears to have wiped the agenda of any other business, and there is surely other pressing business for the world’s top club to deal with? You would not think so. It is a measure of just how critical for the rest of the planet Europe’s woes have become.
“The talks in Cannes have taken place in a very serious atmosphere, according to President Sarkozy. The reason for that was the government crisis in Greece. What comes next depends on further developments in Greece. Europe is prepared for the worst,” says euronews’ Stefan Grobe.