Just hitting the wires from Sky News:

More from Sky News correspondent Ed Conway (via Twitter):

G20 now preparing itself for Greek default after October - Sky sources. Will be on Sky News imminently with more

G20 sources: all efforts behind the scenes (by G20 members) are now going into recapitalising banks, preparing economies for default.

G20 sources: default not expected until after Cannes G20 early November. Emergency funding should still keep Greece afloat thru October

G20 sources: No suggestion Greek default need imply country leaving the euro

G20 sources: @ Washington summit marked difference in attitude. Confident euro members edging closer to recapitalising banks, expanding EFSF

Looks like the inevitable is coming in about a month.