Shares around the world have this morning risen on the back of yesterday's agreement between euro zone leaders and the International Monetary Fund aimed at tackling the continuing debt crisis in Greece.

Traders and many analysts breathed a sigh of relief as an additional £96billion package of aid was approved.In addition to the money, Greece has now been given much more time to pay back the loans.

However, with rating agencies expected to declare that the debt restructuring effectively implies that Greece has defaulted on its debts, the market recovery may be shortlived.