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Replacement for Varoufakis 'to be sworn in today'

Euclid Tsakalotos (right) is expected to replace Yanis Varoufakis Credit: Reuters

Euclid Tsakalotos will be sworn in as Greece's new finance minister today, a presidency source has told the Reuters news agency.

Mr Tsakalotos would replace Yanis Varoufakis, who resigned following the referendum result.

"Tsakalotos will be sworn in with the political oath as finance minister," the presidency official told Reuters.

Osborne: Risks growing at 'critical moment' in Greece

George Osborne said it was a "critical moment" in the Greek crisis. Credit: PA

Chancellor George Osborne has told the Commons the risks to Britain are growing as the Greek debt crisis continues.

Mr Osborne said the situation could go from bad to worse and that the prospects of a happy resolution were deteriorating.

This is a critical moment in the economic crisis in Greece.

The situation risks going from bad to worse. Britain will be affected the longer the Greek crisis lasts and the worse it gets.

There is no easy way out, but even at the 11th hour we urge the Eurozone leaders and Greece to find a sustainable solution.

– George Osborne


PM holds talks with Angela Merkel over Greece crisis

The Prime Minister held talks with the German Chancellor Angela Merkel Credit: PA

David Cameron has spoken with German Chancellor Angela Merkel to discuss the crisis in Greece.

In a tweet from Number 10, the Prime Minister said the Government would do "whatever is necessary" to protect the British economy.

Lagarde: IMF 'ready to assist Greece' if asked

Christine Lagarde said the IMF was monitoring the situation closely. Credit: PA

The International Monetary Fund has said it is ready to help Greece after the country voted to reject an international aid deal in Sunday's referendum.

Christine Lagarde, the IMF's Managing Director, said: "We are monitoring the situation closely and stand ready to assist Greece if requested to do so."

Her comments come as the leaders of Greece's main ruling and opposition political parties promised to back Prime Minister Alexis Tsipras in talks with creditors.


Massive high-speed crash disrupts Tour de France

Riders were sent tumbling with some forced to retire from the race. Credit: ITV4

The Tour de France was stopped for around 15 minutes after one of the scariest high-speed crashes in recent years.

The crash happened at high speed and after one rider fell, others tumbled over him including current yellow jersey wearer Fabian Cancellara.

Several riders were forced to abandon the race through injury before Stage 3 in Belgium was ordered to get back underway.

Watch the video on our Tour de France website now.

Riders were clearly in pain. Credit: ITV4
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