Eurozone governments have often seen several steps behind the markets in responding to the situation in Greece. The amounts of delay have raised the cost, not just for Greece, but for other countries like Portugal and Spain and the banks that have lent them money. Now the states have been raised once again and officials today have just a few hours to rewrite the rules of the eurozone and show investors they have both the cash and the will to stand by their members.

Coalition partners of the German Chancellor Angela Merkel have failed to retain their majority in regional elections in the state of North Rhine-Westphalia. During the campaign, Mrs Merkel faced widespread criticism for agreeing to support the EU rescue package for Greece. Steve Rosenberg reports from Berlin.

Only a few months ago, Angela Merkel seemed at the pinnacle of power, reelected Chancellor and with the centre-right coalition she’d been campaigning for. But now, the leader who has been nicknamed "Iron Angie" is suddenly looking much weaker. It's only one regional election, but it matters, because defeat here deprived the Chancellor of a majority in the Upper House of the German Parliament. And without that, she’ll find it much harder to push through the national legislation she's planned by tax cuts and health service reform.

World News from the BBC

The biggest party in the new British Parliament, the Conservatives, say they have heard good discussions with the Liberal Democratic Party about forming a governing coalition, following Thursday's inconclusive election. A senior conservative figure said ensuring economic stability and reducing the budget deficit would be a central part of any agreement. The Prime Minister Gordon Brown has said his Labour Party is also open to a coalition deal.