EU ministers struggled overnight to work out a new rescue mechanism for troubled governments in an attempt to keep markets from targeting weaker eurozone members before Asian markets open this morning.

The opening of Europe's financial markets tonight will unleash a battle that may decide the fate of the single currency.

Riots over harsh new austerity measures left three bank workers dead and engulfed the streets of Athens overnight.

A general strike in Greece over the next 24 hours is expected to paralyse the country.