Stock indices closed lower as oil prices continue to decline. Investors have concerns that falling oil prices is a sign of global economic weakness.

Concerns over political instability in Greece also weighed on markets.

Germany's Bundesbank released its monthly report. Bundesbank said that if oil prices continue to decline, it will cut its inflation forecast for 2015 by 0.4%. Bundesbank expects inflation of 1.1% in 2015.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,182.72 -117.91 -1.87%

DAX 9,334.01 -260.72 -2.72%

CAC 40 4,005.38 -103.55 -2.52%