Ten Things You Need to Know Today: Saturday 19 May 2012

1. EURO COLLAPSE COULD 'PERMANENTLY' DAMAGE UK

The British economy may never recover if the euro suffers a spectacular collapse, according to the Government’s chief economic forecaster. Robert Chote, the head of the Office of Budget Responsibility, said a euro collapse could “permanently hamper the economy”.

2. ROLLERCOASTER DAY FOR FACEBOOK SHARES

Facebook shares ended their first day at $38.23, just 0.61% up from their starting price. They had soared by over 11%, as more than 82m shares were traded in the first 30 seconds. It is believed banks stepped in later to avoid the price dropping below its starting point.

3. CAMERON'S WEEKEND 'CHILLAXING' REVEALED

The Prime Minister likes to "chillax" at the weekend, with karaoke sessions, snooker sessions and tennis matches against a machine he dubs "the Clegger", reports The Times. “If there was an Olympic gold medal for ‘chillaxing’, he would win it,” says an ally.

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4. SUPPORT FOR MONARCHY SOARS

Support for the British monarchy is at its highest for 20 years, according to a poll in The Daily Telegraph. Some 80% said they want to remain subjects of the Queen and only 13% were in favour of a republic. The Diamond Jubilee and the popularity of Kate Middleton are thought to be behind the trend.

5. CHINA ACTIVIST 'ON WAY TO US'

The Chinese activist Chen Guangcheng - who has been at the centre of a diplomatic crisis with America - is on his way to the US, according to reports. "I'm at the airport. I do not have a passport. I don't know when I will be leaving. I think I'm going to New York," he told AFP by telephone.

6. REBEKAH BROOKS MOVIE PLANNED

A film about newspaper editor Rebekah Brooks has been announced. Producers behind Rebekah Brooks: The Movie say her story carries echoes of Pip in Great Expectations and American president Richard Nixon. Nicole Kidman has been named as a possible actress for the lead role.

7. LINEKER: ENGLAND 'WILL DISAPPOINT'

BBC football pundit Gary Lineker has written off England's chances at the European Championships, saying: “They’ll disappoint as usual.” He told Readers Digest that the team includes many "players who’ve never learned how to handle themselves".

8. WARSI: RACE WAS FACTOR IN ROCHDALE

Tory Party co-chair Lady Warsi says for a minority of Pakistani men, "white girls are fair game" for sexual abuse. "We have to be prepared to say that," she told the Evening Standard. "You can only start solving a problem if you acknowledge it first."

9. OLYMPIC FLAME BEGINS TOUR

The Olympic flame has arrived in the UK and will set off on a 70-day tour of Britain on Saturday morning in the run-up to the London 2012 Games. Princess Anne handed the lantern to David Beckham after its arrival from Athens. The now-lit lantern will set off from Land's End on Saturday.

10. CHELSEA SET FOR EURO FINAL

Chelsea face Bayern Munich tonight in the Champions League final in Germany. Among the most interested observers will be Tottenham Hotspur fans. If Chelsea beat Bayern then they will take the fourth Champions League slot for next season. Otherwise Tottenham will qualify.