greece

RBS expects Greece will experience a hard default this December in a move it says will cause "violent contagion" in global markets.

Fears over Italy's ability to push ahead with fiscal reforms have pushed bond spreads back up towards record levels as investors rush to safety once more.

Yields on short-dated Greek debt have hit a fresh eurozone-era high after the country announced a pause in bailout talks with the IMF.

Greece will miss its budget deficit target this year, the government and its international lenders said yesterday, but there was disagreement over how big the fiscal derailment will be.

Finnish prime minister Jyrki Katainen has threatened to withdraw support for the Greek bailout unless granted security for its loans in the form of collateral, the Telegraph reports.

My worst fears about the potential loss of confidence in our leaders, institutions, and capitalism itself are being realised. We have been digging this hole for a long time.

TIME TO GO BACK INTO EMs?

Emerging markets are by no means a safe haven, but the problems these countries face are minor in comparison to those of the more developed world, writes Jerome Booth, head of research at Ashmore Investment Management Limited.

Threadneedle's Philip Dicken says a bleak European outlook is is cause for caution, but not excessive negativity.

Moody's has cut Greece's credit rating by three notches following the agreement of a new rescue package for the stricken country.