Greek Exit Will Bring Economic Contraction and Fiscal Austerity in Eurozone and Global Market

Latest update from Eurozone Crisis, Osborne risks the wrath of Merkel
The UK chancellor has said Greek exit from the eurozone may be the price that has to be paid to persuade Berlin to save the single currency the almighty EUR

Investors and forex traders fears rise over EU handling of debt crisis, Sagging investor confidence that Europe can prevent its debt crisis from worsening comes as Spanish yields rise and policy makers wrangle over supervision

Meanwhile, UK leader Cameron in pledge to City over EU bank union, Downing Street has vowed to defend London from any fallout amid a growing UK clamour for a referendum on future bloc membership

Latest update from ECB, Vitor Constâncio, European Central Bank vice-president, has argued it should take over supervision of lenders

European horror focused on Greek exit, We must avoid an accidental Greek exit, An exit from the eurozone is likely to foster a downward spiral of economic contraction and fiscal austerity, says S&P's Moritz Kraemer

Anyway, latest update from Beijing, Chinese airlines refuse EU data request, Carriers will refuse to submit carbon emissions data to the EU by this week's deadline, according to the China Air Transport Association

Another bad news from Greek Gas companies, Greek utility battles to pay Gazprom for supplies, Depa, Greece's state gas utility, is seeking an emergency loan from Athens banks to pay for its Russian gas imports