Greek crisis continues to haunt markets

Greece's economic crisis continues to affect global markets over concern it could spread like wildfire through Europe and beyond.

The Dublin Stock Exchange is down 1.5% so far in morning trading while the FTSE-100 index at 8:15am was down 31.98 at 5309.95.

Japan's Nikkei index fell over 3% to its lowest level in nearly two months as the market caught up with the global selloff following a three-day holiday this week.

France declared the euro was under speculative attack but said such a move would fail. And the Greek government vowed not to retreat a single step despite violence on the streets of Athens.

The euro sank to its lowest level in over a year, falling below $1.28 in Asia and down over 10% since the start of the year.

The European Central Bank holds its monthly meeting later today and, while it is expected to keep rates unchanged at 1%, it is likely to try to assure markets that it can prevent the Greek debt crisis spreading.