euro

CURRENCIES

BlackRock head of European equities Nigel Bolton gives his views on the likelihood of a Greece exit from the euro and the impact on the rest of the region.

David Cameron hosted a meeting with Mervyn King yesterday to prepare the Bank of England for the collapse of the euro and discuss contingency plans.

European leaders are working on a scheme to tackle the eurozone crisis which, if implemented, would see a continent-wide rescue fund seize control of struggling banks.

Specialist insurance market Lloyd's of London is making preparations for the possibility of the euro breaking up, its chief executive has said.

Citigroup's top economist Michael Saunders has forecast Greece will exit Europe's single currency on 1 January 2013, and its new currency will immediately depreciate by 60%.

German Chancellor Angela Merkel and other senior European Union (EU) officials last night called on Greece to shelve plans to quit the single currency and urged it to see out its austerity programme.

The euro has fallen below the $1.30 barrier against the dollar, as Sunday's European election hangover continues to unsettle investors.

An 11-year-old boy has been highly commended for his imaginative entry to a competition to find a credible plan for a euro exit.

Eurozone finance ministers have signed off a second bailout for Greece, paving the way for the first €130bn package this month that aims to finance the country until 2014.