The euro fell to a 10-year low against the yen, and investors poured into German bonds in a flight to safety. – BBC

From BBC

EXCERPTS:

London’s FTSE 100 index was down 2.5%, France’s Cac 40 dropped 5% and Germany’s Dax was 3.5% lower. Bank shares led the falls.

It came on fresh speculation that Greece faces a possible default and that Italy’s debt crisis has worsened.

Germany’s Economy Minister Philipp Roesler said in a newspaper article at the weekend that an “orderly default” by Greece could no longer be ruled out.

A suggestion on Monday from the general secretary of German Chancellor Angela Merkel’s junior coalition partner that Greece could leave the eurozone has added to the tensions.

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