Eurozone

Barclays shares have rallied following the news the UK bank has accepted €8.2bn in three-year loans from the European Central Bank's latest lending programme.

Eurozone members have delayed the approval of more than half of the €130bn loan for Greece, raising fears the troubled economy will officially default.

Finance ministers from the G20 have told eurozone leaders they need to boost their own contributions to beleaguered countries before any more cash from the International Monetary Fund (IMF) is granted.

ON UK GROWTH

CURRENCIES

The European Commission has warned the eurozone will be back in recession this year despite "signs of stabilisation" on the continent.

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 German finance minister, Wolfgang Schäuble, is pushing to let Athens default, creating a split in the German government, according to reports.

THE BIG QUESTION

Ratings agency Moody's has warned it may cut the credit ratings of 17 global banks and 114 European financial institutions as strains on the financial system increase.