Tony Abbott, Australian prime minister©Getty

The Group of 20 must stop being merely a “talkfest”, the Australian prime minister said on Thursday at Davos, committing his country’s ambition to securing concrete agreements during its chairmanship this year.

Tony Abbott sought to refocus the group, which has lost its way since the crisis, targeting financial measures, global taxation and trade and infrastructure financing.

The chairman of the G20 has significant influence in shaping the global economic debate every year, but little has been achieved at the G20 since the Korean presidency of 2010. Subsequently, France, Mexico and Russia found co-operation and meaningful agreements on global economic matters difficult to achieve.

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Perhaps the only item of proper concrete news on Tuesday from the G20 in Mexico was that Canada (along with Mexico, announced yesterday) will be invited to join the nine-member Trans-Pacific Partnership (TPP) trade deal, writes Alan Beattie. Read more

Who’s eating what at the G20 summit in Los Cabos? JP Rathbone reports Read more

While it must be tempting for Cameron to score cheap points off the French government and to lecture the Germans, it is also distinctly ill-advised, argues Gideon Rachman Read more

Should Argentina, with its cavalier approach to economic policy, still have a place in the G20?

The debate is starting to generate heat, if not yet light. On May 11, Richard Lugar, the most senior Republican member of the US Senate foreign relations committee, introduced a non-binding “sense of Congress” resolution that calls on the US to suspend Argentina given its “outlaw behaviour”. This behaviour includes, most recently, Buenos Aires’ nationalisation of Spanish oil company Repsol’s stake in YPF, manipulation of inflation statistics, refusal to submit to an IMF review, and failure to comply with dozens of World Bank international settlement disputes. Read more

Welcome to the FT’s live coverage of the eurozone crisis. Curated by John Aglionby and Tom Burgis in London, with contributions from correspondents around the world. All times are GMT.

Another week, another crisis summit. A day after the Greek cabinet unanimously backed prime minister George Papandreou’s call for a referendum on the eurozone deal hammered out by European leaders last week, the global summit circus descends on Cannes, in southern France, for a (planned) gathering of leaders of the Group of 20 leading economies. Formal talks start on Thursday but key meetings are being held today, notably involving Mr Papandreou – who has been summoned to Cannes to meet Nicolas Sarkozy, the French president, and Angela Merkel, the German chancellor.

00.00 The witching hour seems an appropriate time to call a halt. Thank you for clicking. We shall be back in the morning. Read more