Debt crisis: Live - Telegraph 08.05 The short-listed entries to the Wolfson Economics Prize - the competition to find the best contingency plan for the break-up of the eurozone - will be released this morning. Last week Lord Wolfson, who put up the £250,000 prize money, wrote for The Daily Telegraph on why he believes that an easy exit from the euro is impossible: Now financial waters are calmer, people wonder whether it all wasn't just a bad dream. Perhaps things will quietly sort themselves out? Perhaps the prize was a waste of money? I sincerely hope it was. No one wants the chaos and hardship that would follow in the wake of the euro's demise. But financial crises are like tsunami - deceptively quiet one moment, devastating the next. Sadly, it is likely we will see more turmoil in the eurozone. The underlying problems of high unemployment and low growth are still as bad today in Greece, Portugal, Spain and Italy as they were four months ago. And therein lies the problem. 07.38 European markets are due to open soon. In Asia the markets have been broadly higher overnight, thanks to positive manufacturing data from the US yesterday. Tokyo eased 0.59pc to 10,050.39 but Seoul closed 0.99pc higher, rising to 2,049.28. Hong Kong rose 0.85pc in the afternoon and Shanghai was closed for a public holiday. 07.10 There's a growing feud between Greek tax collectors and experts appointed by the Government to make reforms, reports AFP. The experts claim that some tax collectors tolerate evasion and even take bribes, and it is estimated that evasion costs Greece €45bn a year. But POE-DOY tax office employee union boss, Charalambos Nikolakopoulos, doesn't agree: We are not going to tolerate this slander. If there are specific criticisms, they can be judged within the existing disciplinary institution. All tax collectors are not corrupt. We are defending their honour and the prestige of the sector. 06.25 Back in the UK, the British Chambers of Commerce's latest economic survey showed signs the economy is growing again, albeit at weak levels. It supported the idea that Britain's exports performance improved in the first three months of the year, and showed businesses were feeling more confident. than they were at the end of 2011. David Kern, the BCC's chief economist, said improving conditions were "welcome but modest," adding the UK should avoid a return to recession. 06.20 A quick look at this morning's newspaper front pages: the Financial Times is running a story on Avon, which has rejected a $10bn bid from Coty, while the Daily Express is reporting that many banks are raising mortgage interest rates while leaving savings rates unchanged. 06.15 Sticking with Greece, the country and some of its bondholders have yet to reach a full agreement on losses they will be expected to take as part of the country's debt restructuring. 06.10 The big news in Europe was how youth unemployment rates in Spain and Greece have passed 50pc Angela Monaghan reports: 06.05 Yesterday, US shares had a bumper day, getting the second quarter off to a strong start. The Dow Jones closed up 0.4pc at 13,264.49 points, its highest level since December 31, 2007, while the S&P 500 rose 0.7pc to 1,418.89, its highest since May 2008.