A surprise mission by members of the EU and IMF to Greece has stabilised the equities markets for the time being, as the Greek Prime Minister, Mr Papandreou faces a vote of no confidence which he instigated last Friday. He needs to get parliament onside to push through the austerity package which the Greek people are demostrating against daily, with massive power cuts yesterday just part of their actions.

Without an urgent loan of around 12 billion euros, Greece has no choice but to default on payment obligations due in July.

It is a highly sensitive issue with  far reaching consequences that could at some stage result in the collapse of the Eurozone and it's currency. Letting Greece go bankrupt would also involve many european banks in huge losses and the effects of that would not so much send a ripple around the globe but cause a tsunami that would effect us all.