Greece crisis concentrates minds at G7 meeting

The depth of the financial crisis in Greece is causing concern at the G7 meeting of Finance Ministers in Canada.

World stock markets slid to three-month lows yesterday as concern intensified about a potentially huge bailout for the country and a destabilisation of the eurozone.

The euro currency dropped to its lowest since May against the US dollar.

Countries such as Greece, Spain and Portugal are under increasing pressure to show that they will bring public finances under control.

Measures being taken by the Government here are seen as an example for others follow.