Ministers have been urged by an influential committee to draw up a plan of action to help the country cope in the event of a eurozone collapse.
Chris Rice, manager of the £823m Cazenove European fund, is adding risk to his portfolios due to bombed out valuations and the European Central Bank's implementation of "one of the biggest bailouts in history".
A 'disorderly' default in Greece could cause more than €1trn (£833bn) damage to the eurozone, a confidential report has warned.
German parliament yesterday approved a €130bn euro rescue package for Greece, while S&P downgraded Greece's credit rating to ‘SD' or selective default.
Schroders is set to add a European equity offering to its offshore range on 7 March.
US and Asian markets gave a modestly positive response to the second Greek bailout, following losses in European counterparts, as it emerged the debt-laden nation has just nine days to implement many of the conditions of the rescue.
The UK's prized triple-A credit rating was under threat last night after US ratings agency Moody's put it on negative outlook, citing pressures from the eurozone.