greece

A solution to the Greek crisis may be delayed until September after European finance ministers failed to reach an agreement on the terms of the fresh bailout.

Billionaire investor George Soros has warned a Greek default is "inevitable", and EU leaders must adopt a plan B to stem contagion to the rest of Europe.

The downgrading of Portugal's debt to 'junk' status by Moody's earlier this week has led to renewed criticism, this time from the European Commission (EC), of the role and behaviour of credit ratings agencies.

Moody's has downgraded Portuguese debt to 'junk' status on fears it will need a second bail out just months after it received €78bn.

F&C's director of global strategy Ted Scott on the changing role of the ECB during the debt crisis.

Standard & Poor's has warned proposals put forward by French banks to rollover Greek debt would effectively mean the country is in default.

Abnormal volatility in European markets is set to continue despite moves by Greece to overcome hurdles after passing its austerity package last week.

Threadneedle's head of European equities William Davies has said it is "inevitable" Greece will default in the next two years.

Debt-laden Greece could drag the whole eurozone into a "vortex of default, bankruptcy and an economic slump", Threadneedle's Leigh Harrison has warned.

Nervous markets were further soothed yesterday as Greek MPs passed a law to implement strict austerity measures in a second round of voting.