Pier Carlo Padoan

Euro zone leaders will fight to the finish to keep near-bankrupt Greece in the euro zone today after the European Union's chairman cancelled a planned summit of all 28 EU leaders that would have been needed in case of a "Grexit".

Mr Varoufakis also incurred the wrath of his Italian counterpart Pier Carlo Padoan by comparing Italy's problem with its large public debt to those of Greece.

Euro zone leaders will fight to the finish to keep near-bankrupt Greece in the euro zone today after the European Union's chairman cancelled a planned summit of all 28 EU leaders that would have been needed in case of a "Grexit".

Mr Varoufakis also incurred the wrath of his Italian counterpart Pier Carlo Padoan by comparing Italy's problem with its large public debt to those of Greece.