Some items of interest from The Telegraph's liveblog

http://www.telegraph.co.uk/finance/debt-crisis-live/9240117/Debt-crisis-Live.html

12.38 The Telegraph's Jeremy Warner brings us this informative graph on eurozone unemployment. Even Germany is taking a slight turn for the worse.

12.01 Fiona Govan, our correspondent in Spain, reports that the country intends to privatise its rail network to raise some cash:

Unveiled today are plans by Spain's Ministry of Development to sell off the Renfe rail network. Spain's high speed railway is one of the few infrastructure success stories of Spain and has become the envy of Europe. Last year the state-owned company said it was planning to “internationalise” its business and bid for franchises for railway projects across Europe, including Britian. But now the ministry suggests it is the ideal candidate for privatisation tin a bid to help swell Spain’s coffers.

11.40 Time for a look back at European unemployment rates, which we've broken down for you here by country:

10.17 Eurozone unemployment hit a record high during March, reaching 10.9pc. That equates to 17.37m looking for work, 169,000 more than the previous month.

09.46 Continuing the stream of bad news from Europe: Italy's unemployment rate has hit a record 9.8pc in March, up from 9.6pc the month before, says national data agency Istat. That's the highest jobless level since Italy began recording monthly figures in January 2004. The unemployment rate among people aged 15 to 24 is up to 35.9pc from 33.9pc.

09.20 German unemployment data is also out, and is also disappointing. The number of unemployed rose in April by 19,000 to a seasonally-adjusted 2.875m. Until now the country had enjoyed a five month run of falls.

09.09 That weak European manufacturing data has unsettled markets, eroding some of the early gains we saw on the back of better figures yesterday from the US.

The DAX has slipped back to 0.83pc and the CAC is now up just 0.96pc, while the FTSE has extended its losses to 0.29pc.

09.01 Manufacturing data is now pouring in from Markit, and it doesn't look good: Italy has tumbled from 47.9 in March to 43.8 last month; Spaindropped to 41.7 - its lowest point since September - from 44.9 in March;France rose to 46.9 in April from 46.7 in March, but is still contracting;Germany was at 48.4 in March but dropped to 46.2 last month - its lowest point since July 2009.