There would have been "chaos" if ministers had overruled the board of RBS over a £963,000 share bonus for its chief executive, says Cabinet Minister Iain Duncan Smith.

Athens rejects outright German proposals for an EU power of veto over the Greek budget, with a minister threatening to quit over the issue.

Facebook will begin the process of becoming a publicly-listed company this week, valuing the social networking site at between $75bn and $100bn, reports suggest.

The eurozone crisis could be under control at last, according to the leaders at the World Economic Forum, but there is plenty of uncertainty ahead.

'Gambling' with some of the world's top investors