European stocks were expected to open higher on Friday tracking overnight gains in Asia following news that Greece reversed plans to hold a referendum on euro zone membership and the latest bailout for the country.
The FTSE is called 12 points higher, the DAX in Frankfurt is expected to open up by 22 points and the CAC 40 is called higher by 10 points.
Greek Prime Minister George Papandreou faces a parliamentary confidence vote on Friday.
Sources told Reuters news agency that Papandreou has agreed to step down if his Socialist colleagues back him, making way for a coalition government.
The first day of the G20 summit in Cannes was dominated by the unfolding drama in Greece, with world leaders pressurizing their European counterparts to act swiftly to prevent contagion from the debt crisis in the euro zone.
French President Nicolas Sarkozy took the unprecedented step of warning the Greeks that the priority for European leaders was to preserve the common currency even if that meant Greece fell out of the euro area.
Franco-German pressure made it clear that the struggling southern European nation would not receive further aid unless it sticks to the conditions of the bailout agreement.
The second day of the G20 meeting will reportedly focus on funding for the IMF among other things.Page 1 of 3 | Next Page