Even Greece had got some assurance about bail out by EU but Greek banks have seen a marked increase in the pace of deposit withdrawals as deposit outflows from the major Greek banks have reached 500-800 million euro’s over the past few days. fears grow that Athens could be forced out of the euro.

German bond prices tumbled as  the election draws closer in greece and a bailout for Spain’s banks failed to calm markets.

Italy expects  European Union to provide a  growth plan which have good  investment and  joint euro bonds to stop the crisis as Germany warns Italy to accept Prime Minister Mario Monti’s tough economic measuers to avoid becoming the next victim of the euro zone debt crisis

only closer European integration could solve the crisis .