Osborne plays down fears China stock market slide will derail EU economies

Chancellor's remarks come on day Beijing dubbed 'Black Monday' and as European markets saw biggest falls since 2008 financial crisis

George Osborne has played down fears that European economies will be derailed by the dramatic stock market slide in China that triggered some of biggest swings at bourses around the world since the 2008 financial crisis.

The UK chancellor said the volatility in China, where the main Shanghai Composite index on Monday had its biggest one-day drop since 2007, was "a cause for real concern".