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The leaders of the world's most powerful economies are meeting to confront a European debt crisis that threatens to plunge the global economy into renewed recession.
Almost one in four young Europeans was out of work in October as unemployment in the eurozone hit a new record high
Italian Prime Minister Mario Monti said he was convinced that Greeks want to stay in the euro but the crisis had shown that more European Central Bank involvement was likely needed.
European Union leaders have drawn a line in the sand for Greece over its debt rescue, warning before a G20 summit that the bailout is the last offer.
The eurozone crisis took a fresh turn for the worse after Moody's threatened to cut Germany's coveted top credit rating amid fears the bloc's difficulties could pull it apart.
The upward trend of confidence in Europe's economy has continued in October but at a slower rate, the European Commission says.
Key dates in the latest phase of Europe'sworsening financial crisis.
Prime Minister Alexis Tsipras says Greece needs time to realise its reform plans, not money.
Eurozone finance chiefs and the International Monetary Fund have failed to agree on a further debt bailout for Greece.
In a preliminary estimate, Eurostat says the eurozone is now 0.4 per cent bigger than in the first quarter of 2008.
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