greece

Greece may have to temporarily leave the euro currency bloc in order to shore up its finances, a member of Germany's junior coalition party said today.

Greece has sent a formal request for its €45bn EU-IMF debt rescue package to be activated as its financial predicament worsens.

London's leading shares are showing slight gains this morning as a late recovery on Wall Street boosts investor sentiment.

Ratings agency Moody's has downgraded Greece following news that its budget deficit reached a worse than expected 13.6% of GDP last year.

Greece could be forced to reluctantly accept the agreed EU and IMF bailout package after its borrowing costs surged to fresh highs yesterday.

Banks have warned they would be forced to halt lending to small businesses by tighter international regulations they say are being rushed in.

Lawyers in the United States were predicting a wave of legal action last night in the wake of the $1bn fraud charge brought against Goldman Sachs by the US Securities and Exchange Commission.

The Centre for Economics and Business Research has increased its forecast of economic growth in Britain, predicting GDP would be about £20bn higher by 2020 if the Conservatives gain power.

Morgan Stanley has warned Germany could withdraw from the eurozone as the fallout from the Greek debt bailout continues.

The eurozone's bail-out scheme for Greece has been plunged into disarray after four German academics said they will legally challenge the rescue plan.