Greek MPs today imposed tax hikes and spending cuts to stave off bankruptcy amid a second day of rioting which left dozens injured.

Greece’s embattled prime minister is facing a vital confidence vote today amid escalating protests over the country’s austerity measures.

Greece was hit by rolling blackouts today as employees at the main power utility began 48-hour rolling strikes to protest against the company’s privatisation, part of austerity plans needed to avoid a national debt default.

Greece faces possible power cuts as workers at its main generating company strike to protest at plans to privatise, part of the austerity plans aimed at solving debt problems.

A spokesman for Economic Affairs Commissioner Olli Rehn has said the aim of the EU-IMF bailout was to stabilise the euro as much as to support the Irish economy.

European leaders today set out to try to persuade global markets that Greece's debt crisis will not spread and derail economic recovery.

Germany and France tonight tabled plans to create an “economic government of the European Union” – with new permanent EU President Herman Van Rompuy in charge.

EU President Herman Van Rompuy today said European leaders have reached a deal on helping Greece with a debt crisis that threatens to spread to other eurozone nations.

British Prime Minister Gordon Brown will hold talks with European Union President Herman van Rompuy in Downing Street today for the first time since the Belgian’s controversial appointment last year.