BBC News with Marion Marshall

Italy says it will declare a state of emergency over the cruise liner lying

capsized

off the west coast and provide funding to help avert any environmental disaster. The stricken vessel was carrying more than 2,000 tonnes of diesel. Six people are known to have died in the accident and 16 are still missing. Bethany Bell is at the accident site.

Concern is growing about the fuel on the wreck of the Costa Concordia. The ship's tanks were full, and there are fears for the environment. The area where the ship capsized is a maritime park known for its

pristine

waters. Italy's environment minister said work to avoid a spill is

underway

, but he said the risk for the island is high and time is

running out

. Meanwhile, the owners of the cruise ship have accused the captain Francesco Schettino of deliberately going off course. The captain, who's been detained for questioning, has denied any wrongdoing.

The international credit rating agency Standard & Poor's has downgraded the eurozone bailout fund from the top AAA spot to AA+. Correspondents say the move could make it more difficult for the fund to raise cheap bailout money. With the details, here's Andrew Walker.

Standard & Poor's move follows downgrades last week for nine eurozone governments including France, which lost its own AAA rating. The bailout agency gets its

creditworthiness

from the financial strength of the eurozone governments which guarantee its debts. The loss of its AAA status is likely to make it a little more expensive and difficult for the agency to borrow money to lend on to countries in difficulty. Spain and Italy are two large countries which might seek its help, so Standard & Poor's move complicates efforts to stabilise the eurozone.