There are massive political, financial, and security issues at stake in Cannes next week. It's a major international summit taking place against the backdrop of a European financial crisis that could push the world into another recession. Demonstrators are occupying financial centres around the world to protest at what they see as unfairness and even criminality in the world's finances.

Expect lots of traffic disruption, some riots, and some political showmanship as the finance ministers and central bank governors of 20 of the world's biggest economies gather to discuss world financial issues. And have they got things to talk about!

French President Nicolas Sarkozy has invited Bill Gates to make some suggestions for innovation in the way the world manages its money. This is a time when the Geek Gods are revered far more than our politicians, so it's probably a smart idea to wheel one of them in.

The G20 was created after a shock in the 1990's when the Asian economic crisis impacted the world, and leaders started to realise that they needed to make their cocktail parties a bit bigger or they might miss out on the best gossip. And so in came Brazil, India, China, Indonesia, Saudi Arabia, Korea, Russia, and others. Now they represent a significant weight on the world stage, and their big issue right now is to push European countries to sort out the national debt crisis.

Still reeling from the toxic loans crisis that started in the US in 2008, the world economies are now watching with horror as European banks face big problems because they have lent money to states that cannot repay the debts. US Treasury Secretary Tim Geithner has warned that unless the Eurozone sorts its problems out soon, the world faces "cascading default, bank runs and catastrophic risk."

The recapitalising of the banks, to keep them solvent in anticipation of a sovereign debt write-down, will cost around £200bn, money to come from private investors, national governments and the EU. Increasingly tetchy meetings between M. Sarkozy and Frau Merkel are looking at the best ways to manage the Greek default - should creditors be forced to accept losing lots of money, or should the European taxpayers pay?

For the Germans, the best route is for the creditors to lose out, while for the French (who have big exposure to this risk in French banks), the taxpayer route is preferred. Meanwhile David Cameron is getting worried because with Britain not in the Euro, he's not invited to all the discussions.

The Eurozone is supposed to agree all this in time for the EU summit this weekend, when all Europe's leaders will be there. If it does, the G20 is indicating that the IMF will increase its own financial firepower.

What if they don't find an agreement? The real fear is that wholesale money markets will dry up, financial institutions will stop lending to each other and a liquidity crisis will produce a huge banking crisis, throwing Europe and the US into a deep recession, as they struggle to emerge from the last one.

So what does this mean for us here on the Riviera? Well the good news is there is a big economic boost for Cannes - 35,000 hotel night bookings and all those delegates out there spending in restaurants and bars: some people are going to get some money out of this, and if you believe in the economic multiplier, then the rest of us should one day see some benefit. And of course the politicians are saying that this is good news for Cannes and the Riviera in terms of the image and the publicity - well let's see, shall we? That's going to depend on how things play out on the security side.

The official protest demonstration is taking place in Nice on November 1st. For the G20 overall, 12000 police are mobilized. The entire French football league program has been moved to free up resources. Border controls are back in place at Venitmillia. Street parking won't be allowed in the centre of Cannes, and parking in the underground car parks will mean you have to get out of your vehicle and open the boot to show the security guards. You'll need a special badge to be allowed into some central areas of Cannes over the time of the summit. And as for traffic...

• On 2 November, the A8 motorway will be periodically closed throughout the day in the direction Nice to Cannes.
• On 4 November, the motorway will be closed completely from around midday until around 8 PM in the direction Cannes to Nice.