A Greek exit from the euro would be a "major catastrophe", the former Greek Prime Minister George Papandreou has told the BBC.

The leader of Greece's pro-bailout New Democracy party, set to win most seats in a general election, says he wants to form a government quickly.

Polls open in Greece for the second time in six weeks in a cliffhanger vote that could decide the country's future in the eurozone.

Spanish Prime Minister Mariano Rajoy says action is needed to make the economy "more flexible and competitive" after the IMF calls for wider reforms.