Chancellor George Osborne
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Osborne: Eurozone 'has to do more'

The political turmoil in Italy is being closely watched by European finance ministers who have been meeting in Brussels.

They are worried that if Italy fails to get to grips with its huge debts the rest of the eurozone could be dragged into a crisis more serious than anything it has seen so far.

The Chancellor of the Exchequer, George Osborne, was at the meeting in Brussels.

Speaking to the BBC's political editor Nick Robinson the chancellor said what happens to the eurozone could have a profound effect on the British economy.

Go to next video: Latest reports on Italian vote