greece

Greece is prepared to turn to the IMF for help if its European neighbours fail to provide the financial assistance it wants after announcing the toughest spending cuts in decades.

The euro has risen against the dollar this morning after the Greek government unveiled 4.8bn euros worth of austerity measures.

The euro has fallen to a 10-month low against the dollar, amid poor economic data and ongoing concerns about the stability of the Greek economy.

Greece has said it exceeded budget revenue targets last month - earning the country some respite amid the ongoing fallout from its spiralling debt crisis.

Greece has greatly threatened its chances of an EU bail-out by slamming Germany over war-time atrocities and accusing Italy of hiding public debt.

The standoff between Greece and the EU refuses to lie down, however it was IFAonline.co.uk's sister title 'Risk' magazine which skilfully pinned down the exact numbers in an article published in 2003.

Greece is preparing to launch a multi-billion euro bond issue in order to manage its short term debt and ballooning budget deficit.

Multi-managers including Henderson and Thames River have recently reduced their allocations to Europe, following a turbulent few weeks for the region.

Stewart Cowley, head of fixed income at Old Mutual Asset Managers (UK), on the outlook for inflation in 2010.

The eurozone economy will only grow around 1% this year, according to the head of the single currency block.