Unemployment in the Eurozone has reached a record high of 12.2 per cent.
The eurozone has exited recession after its economy grew 0.3% in the second quarter from the previous period, according to official figures released today.
French president Francois Hollande has suggested handing control of the entire Eurozone's economic policy to a new president in Brussels.
It is part of his plan to deal with the bleak state of the French economy, amid protests in Paris and the leader's plummeting approval rating.
ITV News Europe Editor James Mates reports.
Four of the eurozone's biggest economies will shrink more than expected this year, the EU's Economic Commissioner predicted today.Read the full story ›
The Chief Executive of the Bank of Cyprus, Yiannis Kipri, has been fired by the country's Central Bank.
Angry workers from the largest Cypriot commercial bank, the Bank of Cyprus, marched to the Central Bank of Cyprus in Nicosia to demand clarification about the banking restructure deal clinched with international lenders.
Europe Correspondent Emma Murphy reports:
The Chancellor told the Treasury Committee: "We will make clear where we think mistakes have been made and we have made it very clear that we thought it was a mistake to try and bail-in the insured depositors over the last week.
"But we are also here to try and resolve this situation because in the end, as we have discovered to our costs over the last couple of years, developments in the eurozone have a very direct impact on the British economy.
"If financial markets become concerned that also has a direct impact on the global financial system."