Georg Funke is under intense pressure to quit as Hypo chief after a €50bn lifeline had to be thrown to the bank in a last-minute rescue effort by the German government and the banking and insurance industries

Shareholders could receive a smaller stake than first envisaged in the airline group to be created by the planned merger of the UK flag carrier with Spain's Iberia

Leaders of all 27 European Union governments vowed on Monday to 'take whatever measures necessary' to prop up the financial system as markets plunged across the continent and countries raced to put in place blanket protection for depositors

Europe's car industry joined the queue of challenged businesses seeking state aid by requesting a €40bn loan package and financial incentives to scrap vehicles more than eight years old

The Icelandic krona fell around 7% against the euro to record lows as the country scrambled to avert a full-blown financial meltdown after failing to produce a stability plan over the weekend