Items of interest - focus on Greece but always news of interest pertaining to Europe... The Telegraph liveblog

http://www.telegraph.co.uk/finance/debt-crisis-live/9286543/Debt-crisis-as-it-happened-May-24-2012.html

19.38 With the Greek elections just over three weeks away, a new poll conducted by Public Issue in conjunction with Skai TV puts anti-bail-out party Syriza in the lead with 30pc.

The conservative New Democracy party, which is backing the bailout, is in second place with 26pc of the vote, while PASOK, led by pro-bail-out MP Evangelos Venizelos is in third place with 15.5pc.

The parties garnered 16.8pc, 18.9pc and 13.2pc of the vote respectively at the first election.

However, a separate poll conducted on behalf of news site pelop.grsuggests that New Democracy is slightly ahead in the polls, with 23.5pc of the vote. Syriza has a 23pc share, while PASOK lags behind at 10.6pc.

The party that wins the biggest share of the vote will get an additional 50 seats in parliament.

_{The shape of things to come? Syriza leader Alexis Tsipras speaks at his party's parliamentary group in Athens earlier this month (Photo: EPA).}

14.38 Sergey Shvetsov at the Bank of Russia says Greece has a plan for a parrallel currency and leaving the euro would be a good example for others.

14.17 ECB President Mario Draghi: "Now is a crucial moment in the history of the EU. EMU governments must jointly and irreversibly define a vision. European intervention needs brave leap of imagination.

He adds that "price stability is the benchmark of well-being" and thatLTRO collateral was sufficient to absorb risk.

14.07 The euro has spiked on JP Morgan prediciton of one-year LTROand an ECB rate cut. Same rumours fuelling markets.

Euro versus Swiss franc spikes amid talk of tax on Swiss deposits.

13.49 Sweden has joined Italy and Finland today in admitting its government has a plan to deal with Greece leaving the euro. Only Irelandhas said it hasn't.

Rumours ECB may implement fresh liquidity measures is pushing up markets. Athens stock exchange has fallen below 500 for the first time since 1990 (-5.04pc today)

12.58 Handelsblatt is reporting that the risk to the German financial sector from Spain is €100bn.

12.54 George Provopoulos, Governor of the Bank of Greece, says country banks to receive €18bn on Friday or Monday. He adds that growth depends on decisions in Athens, not Brussels.

12.45 German Chancellor Angela Merkel is to meet opposition leaders to win their backing for the European Union's latest treaty enshrining fiscal discipline.

Merkel's center-right government needs the support of opposition parties to secure a two-thirds majority in Parliament for the legislation to pass.

Center-left opposition leader Sigmar Gabriel reiterated ahead of Thursday's talks that his party would only vote for the fiscal treaty if it is amended to include an economic growth pact.

12.40 Bulgaria has joined Germany in opposing joint eurobonds. Prime Minister Boyko Borisov said: "Debt puts burden on the next generations... Nothing good awaits Europe if it goes down this path."