FTSE sells off as Greek euro exit looms

An admission by the head of the International Monetary Fund (IMF) that Greece may have to exit the eurozone caused further selling in London today, with shares falling to yet another multi-month low.

Confirming what was already widely feared by investors, IMF chief Christine Lagarde said one of the options on the table now is for Greece to exit the euro, albeit in an 'orderly' fashion. Lagarde told French broadcaster France 24: "If the country's budgetary commitments are not honored, there needs to be appropriate revisions, which means either supplementary financing and additional time, or mechanisms for an exit, which in this case must be orderly." The comments helped turn sentiment negative once again on Wednesday, with the FTSE 100 falling through the 5,400 mark. By 11:31am,...