A great-grandfather who scooped a £13.5m (€17m) lotto jackpot thought he had won just £25.

European Union rules limited the ability of British financial authorities to cope with the crisis at Northern Rock, according to a pamphlet published today by a leading economist.

Andrew Woodcock

Eurozone governments will have to rein back public spending if they are to avoid “unacceptable” increases in inflation, a report warned today.