Eurozone crisis - funds withheld from Greece

The Eurozone leaders have reacted to the Greek Referendum currently a month away, by withholding the much needed bailout funds until the Greeks decide whether they want the benefits of Euro membership, or not.

This Friday, Greek Prime Minister George Papandreou's Governmen,t faces a vote of no confidence and while it is expected to survive it, the prospect of a new Greek Government at this time would add further chaos and uncertainty to the current situation.

The G2O meeting in Cannes today will be discussing the situation but it has been made very clear to Greece that they will be voting to stay within the protective umbrella of the EU and to receive the enormous financial support that goes with it.

If it wasn't for the massive fallout that will accompany a Greek exit from the Euro system, they may well have been asked to leave the building some time ago.