Global creditors announced Wednesday the return of auditors to Greece in a bid to break an impasse over billions of euros in blocked bailout loans Athens needs to avoid default.

Nearly four weeks after abruptly leaving the city, EU and IMF negotiators will restart tough number crunching from Thursday amid mounting social tension and what the European Union describes as the biggest challenge of its history.

Greece and the euro are facing a tough week as European Union and IMF experts resume an audit of progress on cutting the public deficit and reforming the economy, with default threatening.

The EU and IMF will decide on the basis of the audit whether to release the next slice of rescue funds of 8.0 billion euros ($11.0 billion) from a first bailout in May last year.

European equities and the euro fell on Wednesday on fresh concerns over banks' exposure to indebted Greece, but losses were capped by expectations of more stimulus measures from the U.S. Federal Reserve.

London's FTSE 100 index of leading shares slid 0.34 percent to 5,345.76 points in morning deals, Frankfurt's DAX 30 lost 0.99 percent to 5,515.32 points and in Paris the CAC 40 dropped 0.80 percent to 2,960.61.

France's budget minister said on Thursday that Paris would send experts to debt-wracked Eurozone partner Greece to help it set up a "tax administration worthy of the name."

In undiplomatic language reflecting northern Europe's frustration over Greece's struggle to control its debt, Valerie Pecresse said Athens must meet its promise to carry out "privatizations and very tough spending cuts."

The prospect of throwing Greece out of the Eurozone moved cener-stage Thursday, after the Dutch called for the "ultimate sanction" and Germany warned a second bailout deal may need re-negotiation.

Under a proposed new regime that would place economies in deep trouble under the wardenship of Eurozone partners, Netherlands finance minister Jan Kees de Jager threatened expulsion as an "ultimate sanction".

A debate over which eurozone countries can demand collateral from Greece in exchange for loan guarantees threatens to derail the quick approval of Athens' second bailout program, experts warn.

"Finland has said right from the beginning that it would not back any loans without collateral, and if this arrangement is no longer acceptable to other nations, then it takes us back to square one," Teija Tiilikainen, head of the Finnish Institute of International Affairs, told Agence France Presse.

French insurance giant AXA said on Thursday that first-half net profit had surged more than fourfold to 3.99 billion euros ($5.71 billion), beating forecasts as the company avoided being hit hard by a Greek debt charge.

AXA said its earnings were up 324 percent from the equivalent figure last year while analysts had expected a net profit of about 3.7 billion euros.

European Central Bank head Jean-Claude Trichet has a chance this week to weigh in at length on the latest Greek rescue.

Trichet is sure to face questions on the landmark second bailout of Greece in the press conference that will follow the ECB policy-setting meeting that should see interest rates stay on hold.

The Turkish part of Cyprus has warned the island’s Greek side and Israel against a unilateral decision to invest oil and natural gas in their territorial waters, saying Lebanon should not go ahead in approving a deal signed with the Cypriot government.

In December, Jerusalem reached an agreement with Cyprus marking the two countries’ sea borders. That agreement came after Cyprus reached a similar understanding four years ago with Lebanon, though that pact has yet to be approved in the Lebanese parliament.

Oil rose in Asian trade Monday after Eurozone finance ministers cleared the way for debt-hit Greece to receive 12 billion Euros by mid-July, analysts said.

In afternoon trade, New York's main contract, West Texas Intermediate for August delivery, rose 12 cents to $95.07 a barrel and Brent North Sea crude for August added 18 cents to $111.95.