European Stocks Fall on Debt Crisis, China Concern; BHP Drops - Bloomberg

European Stocks Fall on Debt Crisis, China Concern; BHP Drops - Bloomberg

"European stocks fell as concern that France may lose its top credit rating added pressure on the region’s leaders to find a solution to the debt crisis and as China’s economy grew at the slowest pace in two years. "

In the meantime :

EU diplomats say France and Germany have reached agreement to boost the eurozone's rescue fund to €2tn as part of a "comprehensive plan" to resolve the sovereign debt crisis.

Thousands of riot police are being rushed to Athens ahead of what one Greek daily has dubbed 'the mother of all strikes' – a 48-hour stoppage with a pledge by unions to flood the capital with protesters.

Obviously the rich are not feeling the crunch yet. The maker of Louis Vuitton handbags, Mumm champagne and Hennessy cognac says no sign of spending slump in the luxury market.

Headline inflation in the UK hits its highest rate since September 2008 at 5.2%.