Greek crisis sends stock markets tumbling

London’s stock market fell to near a three-month low today as Greece’s plight again hit share prices in banks and other financial companies.

The FTSE 100 index of UK leading shares dropped as much as 67 points to 5647, after European finance ministers refused to grant Greece the next €12bn instalment of a rescue package agreed last year unless it agrees €28bn of new austerity measures that include tax increases, spending cuts and a largescale privatisation programme.