So now Papandreou is stuck between accepting the crippling demands of the EU and IMF in order to guarantee the bailout - losing his political career in the process; or refuse the demands and risk economic pressure that would force Greece to utilise Article 50.
There is a slim chance that this Cannes summit also could be brought back on track. The report presented to the G20 this afternoon by Bill Gates puts Africa centre stage. Gates recognises that Africa can be part of the solution to the global economic crisis.
When David Cameron met Nicolas Sarkozy at the G20 Summit, their first handshake was accompanied by giggles and creases. Considering
Today, Bill Gates will present a report commissioned by President Sarkozy that will recommend G20 leaders adopt Robin Hood taxes as a way of fighting poverty and climate change. It is a real opportunity and one the G20 needs to grasp.My hope is that a group of willing leaders will use Cannes as an opportunity to press ahead with Robin Hood taxes to fight poverty in their own countries and overseas. It would be great if David Cameron joined them. For one thing it would make me and possibly the St Paul's protesters a little less angry.