G20 summit: A Greek tragedy and a grand failure

After two days of hectic talks in Cannes by top world leaders to resolve the Eurozone debt crisis, the G20 Summit is being seen as a failure. The bigger worry now is that the spillover from Europe will lead to another downturn. Nicholas Sarkozy, the host of the sixth G20 Summit, was hoping that it would go beyond being just a photo opportunity for the world's most powerful leaders. Gathered in the glitzy French beach town of cannes, he wanted to use the summit as an opportunity to tell the world that a plan to deal with the European debt crisis had finally been made.