FTSE wobbles around 5,000 on Greek deficit woes

The blue chip index opened down 145 points at 4,983, before recovering some ground to stand 1.97% down at 5027.40 at 10am. Shares across Europe were also falling in the wake of Sunday's announcement from Greece that it will not meet deficit reduction targets. Germany's Dax opened down 200 points, or 3.6%, to 5,301, with France's Cac 40 down 3.1% to 2,890. The Euro Stoxx 50 fell 3% to 2,115. In the UK, Barclays was the largest faller, down 5.9% to 152.2p, with Royal Bank of Scotland falling 5.3% to 22.3p and Lloyds Banking Group down 4.4% to 33.3p. Burberry group fell by 5.8% to 1,1...