EUROPEAN governments summoned banks and insurers to urgent meetings yesterday, urging them to share the cost of a second Greek bailout with taxpayers and avoid a market meltdown.

Ferrari president Luca di Montezemolo has poured cold water on the idea of Italy hosting a grand prix in Rome, branding the scheme “unthinkable”.

Next year’s British Grand Prix will go-ahead on July 11 but its French counterpart was given the task of raising £20m (€28.5m) by the end of this month to save its place on the calendar.

A decision on whether or not to stage next year’s Formula One French Grand Prix will be taken on December 12.