Lloyd's of London chief calls for Eurozone fiscal union

The chief executive of Lloyd's of London has urged European leaders to move towards creating a fiscal union across the Eurozone or risk further damaging UK economic confidence.

Richard Ward said it was "important" the Greek people have voted to remain in the Euro but emphasised the need to address the continued uncertainty across the Eurozone.

It comes after pro-bailout party New Democracy clinched victory in Greece's national elections.

Mr Ward said: "Somehow we need some move towards fiscal union across the euro zone to ensure the euro remains a viable currency.

"We are relying on them (European leaders) to fix it because without a fix in the Eurozone we can see this