Countdown to Grexit: Every event this week which will decide the fate of Greece July 6, 2015 What's that shuffling sound we hear on the wind? The gentle rustle of European leaders trying to reorganise their diaries as the number of meetings over the continent's problem child – Greece – begin to stack up? We now know Greeks don't want austerity measures, but Alexis Tsipras, the country's Prime Minister, is determined to [...]
Nobel Laureate economist Paul Krugman: Europe “won big” from Greece’s “No” vote July 6, 2015 Nobel Laureate economist Paul Krugman hailed Greece's "No" vote in its referendum on European creditors' bailout package as a big win for the rest of Europe. Read more: Varoufakis resigns despite "no'" vote Greece overwhelmingly rejected lenders' austerity measures on Sunday, prompting the MIT professor to argue in his New York Times column that "Europe, and [...]
Yanis Varoufakis resigns: Here’s everything we know about Euclid Tsakalotos, the Greek golden boy tipped to take over as finance minister July 6, 2015 Euclid Tsakalotos has been tipped as the most likely replacement for Yanis Varoufakis, the finance minister who resigned today. By the time Varoufakis was appointed, he was pretty well known in economics circles – but who is Tsakalotos? Greece's chief economics spokesman and deputy foreign minister has been described as the country's "secret weapon" in negotiations [...]
Greek crisis: The 12 Twitter accounts you need to follow to make sense of this whole mess July 6, 2015 Last night, the Greek people made their feelings known: they won't accept further austerity. But what's going to happen next? And when will we find out? There's only one way to make sense of this whole mess – and that's in 140-character chunks. We've got the full cast of characters listed here. In the Greek [...]
Greek debt crisis: Germany shouldn’t lecture Greece – it never repaid its own debts, argues Thomas Piketty July 6, 2015 European conservatives, particularly in Germany “are about to destroy Europe and the European idea” over their demands to make Greece repay its debt, economist Thomas Piketty has said. Speaking with German newspaper Die Zeit, later translated on Medium, the outspoken economist claimed it was “a joke” that Germany was demanding Greece repay the €1.6bn [...]
Greek debt crisis: Finance minister Yanis Varoufakis resigns despite referendum “no” vote July 6, 2015 Greece's finance minister Yanis Varoufakis resigned his post today, despite the Greeks' resounding "no" vote in Sunday's referendum. The economist praised the electorate for "the great capital bestowed upon our government by the splendid no vote" – but said it was clear he could not remain in his position. Varoufakis, who had previously threatened to [...]
Greek debt crisis: Greece votes no to bailout terms as City economists warn on Grexit and fears rise over euro’s future July 5, 2015 The Greek electorate has overwhelmingly rejected conditions attached to an extension of the country’s bailout, in a defiant gesture that threatens the future of the Eurozone. Prime Minister Alexis Tsipras last night vowed to return to the table and secure a quick deal that will prevent Greece’s banking sector from collapse. Over 60 per [...]
George Osborne says emergency July Budget will see £12bn welfare cuts July 5, 2015 Chancellor George Osborne has said that he has identified all £12bn of welfare cuts that he needs to make as part of the government’s plan to balance the budget in three years. “We have found that £12bn of savings in welfare that we said we’d be able to find,” Osborne said yesterday in an [...]
Greeks fear for the future of their divided country after referendum “no” vote July 5, 2015 Tens of thousands of Greeks took to streets of Athens to celebrate last night. The resounding “no” vote given against the latest deal offered by creditors gives Prime Minister Alexis Tsipras a chance to take his hard-line approach back to the table with a democratic mandate. Yet his aggressive stance has not met with [...]
Top companies readying plans for expansion July 5, 2015 The UK’s largest companies are planning to loosen their purse strings and fund expansion plans according to a survey of top finance chiefs published today. Expanding into new markets or introducing new products and services was seen as a strong priority for the next 12 months by 41 per cent of chief financial officers (CFOs), [...]