September 19, 2011
Stock markets fell sharply on Monday amid growing tensions over the EU's failure to resolve the Greek debt crisis.
European bank shares led the fallers, hours ahead of crucial talks that will help determine whether Greece receives €8bn (£6.96bn) of funds it needs to stave off default.
In London, the FTSE 100 index lost more than 80 points in early trading, a fall of 1.5%. Germany's Dax, France's CAC, Spain's Ibex and Italy's FTSE MIB opened between 2.3% and 2.9% lower.
The sell-off followed a weekend meeting in Wroclaw, Poland, where EU countries failed to come up with a consensus on how to prevent a Greek default. European leaders clashed with US treasury secretary Timothy Geithner, who told them to stop "loose talk" that was damaging the eurozone and bringing "catastrophic risk" to global financial markets.
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