Markets slump over Greek crisis

The euro this morning hit its lowest level in a month amid rising concerns over the handling of the Greek debt crisis.

European markets slumped today as economic and political chaos in Greece triggered warnings of a continent-wide debt crisis.

Nout Wellink, a member of the European Central Bank’s Governing Council, warned that the EU bailout fund would have to double to €1.5 trillion if Greece fails to pay its debts and spreads financial turmoil to other countries.