FTSE falls 2% over Greece euro exit fears

The FTSE 100 Index fell 2%, or 110 points to 5465.5 after Greek President Karolos Papoulias was unable broker a deal as the anti-bailout party Radical Left Coalition party refused to join a coalition government.

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Greece sets new election date

Greek political leaders are meeting today to form a caretaker Government to take the country through to a June 17 election - the second in just over a month. The talks come as hundreds of millions of Euros are withdrawn from Greek banks.