ROUGH CUT ONLY - NO REPORTER NARRATION.
AUDIO AS INCOMING
Leaders of the Group of 20 rich and emerging nations arrived in Cannes on Thursday for the first day of a summit meeting expected to be dominated by Europe's debt crisis and a flagging world economy.
Heads of state, government and the odd royal were greeted by French President Nicolas Sarkozy under leaden skies, reflecting the bleak mood.
Speaking ahead of the meeting, German Chancellor Angela Merkel said the G20 talks would be an opportunity to discuss global as well as European matters.
(SOUNDBITE) (German) GERMAN CHANCELLOR ANGELA MERKEL:
"Thank you very much, and let me say that I'm delighted that we have the opportunity for this meeting here. And mainly, the G-20 will afford us an opportunity, during these two days of meeting, not only to talk about European matters but also about global matters that matter to both of us and that are of common interest. And let me say, again, that I very fondly remember the evening in the White House and the award."
Worries about the stability of the euro, the prospect of a Greek debt default and calls by Athens for a referendum over a 140-billion-euro rescue package have worsened the turmoil on financial markets and had a wide-ranging impact on growth prospects across the globe,
At the summit, leaders were expected to discuss European plans to stabilise the euro and worries that any worsening of the deep economic crisis in Greece could contaminate other economies, especially those with large debts and little or no economic growth such as Italy or Spain.
