Europe

Finland's foreign minister said the country is taking measures to prepare itself for a full-blown currency crisis in Europe.

EUROZONE

The European Commission is set to lay out new plans today for a unified approach to tackling tax evasion across member states, including setting up a dedicated team of auditors.

Cyprus has told European authorities it intends to apply for a bailout, making the country the fifth eurozone country to request international aid.

Moody's Investors Service has downgraded the credit rating on 28 Spanish banks, including Banco Santander, less than a month after cutting the nation's sovereign rating.

UK bank shares have jumped following last night's announcement of a £100bn stimulus package for the UK economy.

The Bank of England (BoE) is to launch new stimulus packages in a bid to get the economy moving again.

A €100bn deal to shore up Spain's banking sector has boosted the euro and financial markets.

The Chancellor, George Osborne, is taking legal action against the EU over plans to give a pan-European superviser far-reaching powers to ban or limit the short-selling of financial products, the Financial Times reports.

The British Chamber of Commerce (BCC) has revised down its forecast for economic growth this year, from 0.6% to 0.1%