Slap in the face by Merkel and Sarkozy

The meeting in Cannes turned out to be a slap in Greece’s face. Merkel and Sarkozy imposed their terms. If we want a referendum, it must take place by December 5 and involve whether Greece will remain in the euro area and before then we will not receive the 6th tranche, while the new condition concerns broader consensus. 

The leaders of France and Germany stressed that conditions have changed since George Papandreou's unilateral decision. 

They said "we want Greece in the euro, but will not destroy the Eurozone. It is up to the Greeks to decide". 

What they basically said is that the the Greek prime minister's move put a question mark on Greece’s participation in the Eurozone! "If Greece fails to comply with the rules, it must leave the Eurozone." Asked whether they are prepared for this, Merkel and Sarkozy replied that the message is clear: "We are ready to move on!"