Papandreou: European structures need to be stronger

Former Greek Prime Minister George Papandreou has said it would catastrophic if Greece were to exit the euro currency.

Voting is continuing in Greece this afternoon in a crucial general election which could determine whether the country remains on in the eurozone.

No single party is expected to be able to form a majority government, leaving smaller parties the likely king-makers.

The latest opinion polls put the pro-bailout New Democracy party slightly ahead of the anti-austerity Syriza party.

Mr Papandreou said a fiscal union was needed to save the economies of Greece and the rest of the Eurozone.

"Greece has its problems and we take on our own responsibilities for our own mistakes, for our past and for our bad governance and this is what we're trying to change," he said.

"However, the structures in Europe need to be more integrated and stronger to create that confidence in this world economy so we can together deal with our problems."