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Thu 3 Nov 2011 12:40 PM

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Embattled EU leaders hold fresh crisis talks on eve of G20 summit

Leaders fear the eurozone's debt crisis could tip the global economy back into recession

Embattled EU leaders hold fresh crisis talks on eve of G20 summit
European Union leaders held crisis talks on Wednesday to discuss Greece's threat to delay or derail a eurozone bail-out package. The meeting came ahead of the G20 summit being held today (Thursday) (Getty Images)
Embattled EU leaders hold fresh crisis talks on eve of G20 summit
French President Nicolas Sarkozy, German Chancellor Angela Merkel, senior European Union leaders and IMF director Christine Lagarde were all in attendance at the meeting. According to media reports, they are preparing to give an ultimatum to Greek Prime Minister George Papandreou. (Getty Images)
Embattled EU leaders hold fresh crisis talks on eve of G20 summit
Leaders fear that the debt crisis, which has been reignited by the prospect of Greece's referendum, now threatens to tip the global economy back into recession.(Getty Images)
Embattled EU leaders hold fresh crisis talks on eve of G20 summit
According to experts, the shock referendum announcement has introduced the possibility of Greece leaving the eurozone altogether, should Greek voters reject the EU rescue terms. This also increases the threat posed to Italy by its own debt mountain. (Getty Images)
Embattled EU leaders hold fresh crisis talks on eve of G20 summit
French Prime Minister Sarkozy had been hoping to use today's G20 summit to promote the reform of global finance, but has been forced to face continued debates over the eurozone debt debacle. (Getty Images)
Embattled EU leaders hold fresh crisis talks on eve of G20 summit
President of the European Comission Jose Manuel Durao Barroso was also present at the meeting. He and others are concerned that the referendum has effectively put the release of rescue loans to Greece on hold. (Getty Images)
Embattled EU leaders hold fresh crisis talks on eve of G20 summit
US President Barack Obama will be arriving in Cannes France today for the G20 meeting. Washington and China are expected to calls for Europe to put its house in order. (AFP/Getty Images)
Embattled EU leaders hold fresh crisis talks on eve of G20 summit
Greek Prime Minister George Papandreou has said that the referendum is effectively a decision on whether to stay within the single currency. The fear is that people may vote against the deal, a move that many feel may jeopardise efforts to resolve the debt crisis. (Getty Images: Text: BBC)
Embattled EU leaders hold fresh crisis talks on eve of G20 summit
In the meeting later, the leaders hope to find an answer to the Eurozone crisis. German leader Angela Merkel says the eurozone leaders want Greece to remain a part of the group, but that government decisions in the country were threatening to destabilise the entire region. (Getty Images)