European cuts

Spanish Economy Minister Luis de Guindos issues a dire warning about the future of the euro, as new figures show 66bn euros ($82bn) of money left the country in March.

Ireland starts counting votes in a referendum on an EU financial treaty that could undermine one of Europe’s key initiatives as problems mount in Spain and Greece.

As Greece implodes under tough fiscal reform Ireland, the IMF’s ‘austerity poster boy’, votes on belt-tightening measures in a referendum too close to call.

Business correspondent Sarah Smith gives a numerical guide to just how bad the Euro-crisis looks in Spain.

Europe is threatened by an acute crisis in Spain’s banking system and predictions seen by Channel 4 News suggest a 50 per cent fall in house prices could force Spain to seek an international bailout.

In an exclusive interview with Jonathan Rugman, Syriza party leader Alexis Tsipras – who could be the next Greek premier – says logic will prevail and Greece will not be forced out of the euro.

David Cameron calls for a “lasting solution” to the eurozone crisis arguing for a sweeping change of policy priorities to deliver growth across Europe – but without giving up on austerity.

As contingency plans are made for a Greek euro exit, Channel 4 News Economics Editor Faisal Islam considers the impact of a “cascade of austerity avoidance” across Europe.

Britain should cut interest rates and consider quantitative easing to stimulate growth, the IMF says, on the back of reports showing 3 per cent inflation and predicting the recession is almost over.

With Greece in turmoil, Spanish banks under pressure and the future of the euro at stake, Channel 4 News looks at five approaches to managing a possible break-up of the single currency.

The FTSE 100 index opens 44 points down after Moody’s cuts the credit ratings of 16 Spanish lenders, including the UK arm of Banco Santander.

Amid fears that Greece may be on the verge of leaving the euro, a senior EU commissioner tells Channel 4 News that there are no preparations for an exit.

The Spanish government denies that customers have withdrawn one billion euros from their accounts after shares in Spanish bank Bankia fall 25 per cent on Thursday as worries mount over its future.

Vulture funds who bought international Greek bonds at discounts are circling ahead of Tuesday’s deadline to repay a 436m note issued long before the name Greece became synonymous with “crisis”.

Negotiations continue on Tuesday to resolve the turmoil in Greece. Despite little optimism that a coalition government will be formed, an influential adviser tells Channel 4 News that all is not lost.