David Cameron's G20 euro agenda

The Greeks may have voted to stay in the euro, but now let's see if they can actually form a government which can deliver austerity and the reforms demanded by the rest of the eurozone. Any delay could be very dangerous. That, in a nutshell, is the view of the prime minister.

David Cameron has just arrived in Los Cabos, in Mexico for the G20 Summit of world leaders. He has come with an agenda which sounds awfully like that which he's been pushing for the past two years and has outlined at other summits - a call for the eurozone to deploy a big bazooka, to erect a firewall and to use the European Central Bank to underwrite the debts of all member countries.

He looks and sounds no more optimistic that those decisions will be taken. Because what's good economics is often not very good politics, whether for those expected to take the euro medicine - in Greece or Spain - or those writing the prescription and paying the bill - in Germany.

It's clear that the British government is mentally preparing itself for the eurozone to "kick the can down the road" again - ie to do enough to avert an immediate crisis but not nearly enough to solve it altogether.

The question then will be what on earth can get the British economy moving if, as seems possible, we are about to see a third consecutive quarter of negative growth.

Ministers point to the Bank of England's decisions announced last week and hint that more - on infrastructure spending, house building and credit - has yet to come.

PS: The pictures of world leaders at a seaside resort in bright sunshine may not convince those who've recently been enduring wind and rain that this summit is in their interests.