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At the G8 Summit José Manuel Barroso, President of the European Commission, has been speaking about the financial turmoil in the EU.He said the wounds caused by the political crisis are not yet healed and that European need to take action for growth while putting public finances in order.
He said this is the only path to sustainable growth and that a confident G8 summit will recognise this. He emphasised the growing awareness in Europe of the need to combine fiscal consolidation with structural reform.
Turning to the issue of Greece's existence within the Eurozone he said Europe wants Greece to stay in the Euro area and that Greece is part of the Euro family. But he stressed that the nation must fulfill its commitments for its loan program.
Herman Von Rompuy, the President of the European Council, says Europe is hopeful the next Greek government will act in the interests of its future and that continued reform is necessary.
Herman Van Rompuy, President of the European Council said: "We will do whatever is needed to guarantee the financial stability of the eurozone."
David Cameron and Francois Hollande sought to stress their agreement on a range of issues including Syria, Iran, and Libya as well as continued Anglo-French defence co-operation.
Mr Hollande confirmed that he would be withdrawing French combat troops from Afghanistan this year - in line with his election promise although he said they would continue in a training role.
Mr Cameron said that he had invited Mr Hollande to visit London and to meet the Queen.
Mr Hollande referred jokingly to Mr Cameron's refusal to see him during the election campaign, saying: "I couldn't meet David Cameron before the elections. I am all the happier to meet him afterwards."
The credit ratings agency Fitch has downgraded Greece to CCC because of concerns that it might leave the eurozone.
A No 10 spokesperson has revealed what David Cameron said to the European Council president Herman Van Rompuy, German Chancellor Angela Merkel, the new French president Francois Hollande, the European Commission president Jose Manuel Barosso and the Italian PM Mario Monti in a video conference call:
Latest ITV News reports
The PM has warned European leaders that the eurozone needed to take "decisive action" to ensure stability ahead of tomorrow's G8 meeting.
Downing Street have revealed that the David Cameron's conference call with other European leaders on the euro crisis was 'constructive.'