European stocks are climbing after a four day sell-off, following a pledge from European Central Bank president Mario Draghi that the ECB will "do whatever it takes to preserve the euro".
Global equity markets are tumbling this morning as the eurozone crisis once again takes centre stage, with Spain's debt costs leaping to a new record high and speculation returning Greece will exit the single currency.
European Commissioners are set to make interest rate rigging a criminal offence after the LIBOR scandal, according to reports.
European equity markets have slumped in afternoon trading as Spanish 10-year bond yields approach record highs once again.
Regulators have turned their attention to at least four of Europe's largest banks in a continued investigation of manipulation of the LIBOR benchmark interest rate.
Warren Buffett has spoken out about the rapidly deteriorating state of the European economy, warning that there is no obvious answer to the region's problems.