Markets crash on Greek debt dilemma

With the officials of the IMF and EU unable to agree on how to stitch a rescue package together, that appeases all contributing members and against the backdrop of more severe rioting in Greece against any austerity packages, equity markets are sharply lower across the globe.

This has dragged the Euro down also but it isn't just Greece that has unsettlled markets seeing evidence of economic slow down in many areas, with the prospect of a double dip into recession a low level possibility still.

No good news here in the UK as the unemployment figures for May declined at a higher rate than expected yesterday and no good news from the US either, as inflation there is on the increase and there is huge concern in and out of the US as to how they will tackle their huge and growing debt mountain.