George Osborne

AS Europe holds its breath before tomorrow's vote in the Greek elections, central banks across the world were preparing themselves for turmoil in expectation of another inconclusive result that could propel Greece out of the euro and spread market panic.

THE jump in the value of bank shares yesterday in response to two new stimulus measures announced by Bank of England Governor Sir Mervyn King on Thursday night was a clear indication of investor relief at a policy designed to kickstart growth.