Monday, 7. May 2012

Eurozone crisis live: Greek market rocked by election

• Greek shares fall as much as 7.7%
• Euro tumbles on election results
• Mediterranean bond yieds, credit default swaps rise

11.12am: Giles Tremlett from Madrid reports that: Something afresh is going on in Spain's banking sector... but

Spain's prime minister Mariano Rajoy has this morning announced a further round of reforms to the country's ailing banking system for later this week.  

1.41pm: Analysts at Citigroup have raised the likelihood of Greece leaving the euro within 18 months to 75% after the shock election result.

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