Eurozone in double-dip recession: as it happened The negative sentiment in stock markets continued for another session today as investors continue to grapple with two major concerns overshadowing financial markets. The economic data today made for pretty grim reading too on both sides of the Atlantic with this morning seeing UK retail sales plummeting in a sure sign that following a splash out during the Olympics, British consumers are now tightening their belts significantly. Confirmation that the eurozone is back in recession was also made official today and even though the specific numbers aren't what's really important, it's the fact that growth is anaemic across large swathes of continental Europe at a time when austerity is being implemented making things even worse. On the other side of the pond the weekly jobless claims came in far higher than expected although this was mainly in part due to the disruption caused by Hurricane Sandy. 17.21 European stock markets have closed. The FTSE 100 in London finished down 0.8pc at 5,677.75, while the CAC 40 in Paris slipped 0.5pc to 3,382.40 and Frankfurt's DAX 30 fell 0.8pc to 7,043.42. The IBEX 35 in Madrid ended the day up 0.3pc at 7,695.50. 17.15 Italy's finance minister, who was in London today for a jaw-jaw with UK Chancellor George Osborne, urged eurozone countries to adopt a "flexible" approach to help Greece avoid default. He said that Europe remained in a "tight debate" over what to do in Greece, though he remained open minded on how to solve the situation. Britain's Chancellor George Osborne (L) shakes hands with Italy's Finance Minister Vittorio Grilli (R) in front of 11 Downing Street on Thursday (Photo: EPA). 16.59 Mr Ayrault said: The moment of decision regarding Greece is approaching and, like Germany, France hopes this decision comes as quickly as possible. The important thing is to do everything to keep Greece in the euro zone, there is a consensus on this essential point. If there were any any doubt or hesitation we could bear a very heavy responsibility. 16.58 Angela Merkel has also rejected any idea that eurozone governments might accept losses on loans disbursed to Athens. Speaking at a joint press conference with French PM Jean-Marc Ayrault, she said: I hope that the time is near when we can reach the solution that is needed we did not talk about debt haircuts, you know our view and that has not changed, nor should it. German Chancellor Angela Merkel and French Prime Minister Jean-Marc Ayrault address a press conference in Berlin on Thursday (Photo: AFP). 15.31 Spain does not need any money from the IMF, according to its economy minister. Luis de Guindos denied reports in Spanish daily El Confidencial that said Spain was mulling a request for IMF aid, without EU input. He said that Spain didn't need any cash, but that it remained in touch with the Fund. 14.18 Workers said that they were furious at comments by German envoy Hans-Joachim Fuchtel, who reportedly told journalists on Wednesday that it takes 3,000 Greek public sector workers to do the work of 1,000 of their German counterparts. Mr Fuchtel is Angela Merkel's special envoy to Greece. 14.09 This is the best video I can find of the incident: 14.01 The growing tension between Germany and Greece was on show today as public sector workers stormed a building where officials from the two countries were meeting in the Greek city of Thessaloniki. Police had to form a shield around German Consul Wolfgang Hoelscher-Obermaier as he tried to enter the building. They also pelted him with water bottles and coffee in a protest against austerity measures. The workers chanted: "It's now or never!" and held up mock gravestones and banners proclaiming "Fight until the end!" A protester, not seen, throws a coffee at the German consul in Thessaloniki, Wolfgang Hoelsche-Obermaier, center with the blue shirt, who arrives to attend a conference of Greek and German mayors on Thursday (Photo: AP). 13.42 Spain's most vulnerable homeowners will now be protected from eviction for two years if they fall behind on their mortgage payments. The government passed a decree to prevent households with a monthly income of less than €1,597 who also have three or more children, a child under three or disabled dependents from being forced out of their homes. Jobless Spaniards who are no longer eligible for benefits also qualify. For those who have already been evicted, social housing will be provided. Members of the Stop Evictions movement enter the home of Gisela Bajo (unseen) as they wait for the judicial commission to evict her from her home in Valencia on Thursday (photo: Reuters). 13.15 Slovakia's prime minister is also against a further writedown of Greek debt. Robert Fico told reporters in Bratislava that the measures taken so far haven't solved Greece's debt problems, and that Greece "must first pay the price," before the terms of its bail-out could be relaxed. 12.25 Mario Draghi's speech has just been published on the ECB's website. 12.04 Christine Lagarde, the head of the International Monetary Fund, will cut short her trip to Asia to ensure that she is present at next Tuesday's Eurogroup meeting on Greece, according to a spokesman. Gerry Rice told reporters: The managing director will participate in the eurogroup meeting on November 20 as she usually does, and that will mean shortening her current trip to Asia. On Monday, Ms Lagarde openly disagreed with Jean-Claude Juncker, the head of the Eurogroup of finance ministers, over a critical target for reducing Greek debt levels.