Citibank predicts Greek and Cypriot €uro exit

Citibank has published a damning report on the €urozone's future, predicting a Greek and Cypriot exit from the single currency and structured defaults for Italy and Spain.

The Cypriot government is yet to vote on the EU's austerity programme and half of Cyprus' MPs say they're going to vote against it so a Cypriot exit might come sooner rather than later.