World stock markets have perked up as a meeting of the European Central Bank raised hopes for some type of action to ease the continent’s debt and banking crisis.

Assurances that world powers want debt-laden Greece to remain in the euro helped support world stock markets today after sharp losses over the past week.

Fitch ratings agency downgraded debt-crippled Greece deeper into junk territory, warning of a “probable” Greek exit from the euro currency union if new national elections next month produce an anti-bailout government.

Standard & Poor’s tonight downgraded the credit ratings of France and Austria by one notch.

Asian stocks fell today after a meeting of Europe’s finance ministers failed to stem fears that the euro currency union is hurtling toward a break-up.