While the ECB fears that spending increases involved could be inflationary, politicians, executives and academics are calling for a modification of the Stability and Growth Pact, which limits eurozone countries to a maximum budget deficit equivalent to 3% of GDP.

BBC: Pressure grows for eurozone rate cut

The Bank of England's Financial Stability Review shows that Barclays' retail banking loans in Spain, Italy and bailed-out Portugal are equivalent to a bit more than its core equity capital - its buffer against losses.

BBC: Downgraded UK banks, bonuses and Bank of England support