Raising the spectre of a Greek exit, the German chancellor said “solidarity for the euro” was threatened by the ongoing political crisis in Athens. Stock markets around the world fell sharply with fears mounting that a euro break-up could lead to renewed financial turmoil. The FTSE-100 index of Britain’s major companies fell by two per cent to 5465, with bank shares hit particularly hard. The cost of Spanish government borrowing also hit a record high since the single currency was introduced because of concerns that the crisis will spread. Today, François Hollande, the new French president, will be sworn in and, in a ... (full story)