Spain partially nationalised banking giant Bankia SA after concerns about its real estate exposure in a scenario reminiscent of the Irish crisis following the 2008 implosion of Lehman Bros.

From Greece to France, from Britain to Italy, the message seems clear. Voters have had enough of the politics of austerity, enough of economic pain. But is there a realistic alternative?

Europe awoke to an unpredictable future after elections in France, Greece and EU hopeful Serbia - exactly the type of turmoil that spooks bond and currency traders who crave stability.

Sir Mervyn King has urged the Government not to delay reforming the financial sector and admitted more should have been done to avert the banking crisis.

Businesses with a turnover of less than £50m will receive cheaper loans under a government scheme which guarantees £20bn of loans from major high street banks.

A manager at US bank Goldman Sachs has published his resignation letter in the New York Times, condemning the company for "ripping off its clients" and accusing colleagues of "moral bankruptcy".

One holds the UK economy in his hands. The other's role is even more important - at least if you ask some people. Channel 4 News checks the Top Trumps cards of Stephen Hester and Fabio Capello.

Royal Bank of Scotland chairman Sir Philip Hampton tells Channel 4 News RBS boss Stephen Hester is "low paid" compared to others in the banking sector, but admits pay generally is "very high".

The EU oil embargo on Iran shows how "black gold" can determine the decision-making of countries across the globe. But what does the future hold? Channel 4 News speaks to the experts.

Prime Minister David Cameron tells Europe it must be "bolder" and take difficult decisions in order to recover from its "perilous" economic state.