Europe

IT IS NOT ALL ABOUT EUROPE

Kames Capital's Phil Milburn said Greece should be forced to leave the euro and Portuguese and Irish defaults pushed through as he outlines his solutions for the eurozone debt crisis.

Greece's Prime Minister George Papandreou has called an emergency cabinet meeting for this afternoon as speculation mounts the country's government is about to collapse.

ON UK INCOME

Greece sent markets tumbling overnight and this morning after announcing plans to hold a referendum on the European debt deal designed to save the country.

Schroders is set to soft-close its European Alpha Plus fund, managed by Leon Howard-Spink.

Markets opened lower today as investors paused for breath following last week's Europe-led rally.

This week veteran fund manager Jim Rogers warned the 50% greek haircut will not save Europe and Jupiter's Philip Gibbs sold down his gold exposure.

The Chancellor George Osborne has pledged to stop cash from British taxpayers being used to fund the eurozone bailout.

The VIX, or volatility index, sunk 15% to its lowest level in three months yesterday as European leaders announced plans to alleviate the debt crisis.