Greece passes first hurdle as it gets green light for its proposals ahead of crucial meeting of Eurozone finance ministers July 11, 2015 The measures that the Greek parliament agreed to in the early hours of the morning have received an initial green light from the European Union and International Monetary Fund ahead of a critical meeting of the Eurozone finance ministers in Brussels. Bailout talks are now very likely after the European Commission, European Central Bank and [...]
Greek debt crisis: Greek MPs back Alexis Tsipras’ bailout plan July 11, 2015 Lawmakers in Greece voted in the early hours of the morning to back the government’s proposals in order to unlock new funds from creditors. The Greek parliament has overwhelmingly accepted the government package of economic reforms which aim to end the country’s debt crisis. Greek Prime Minister won cross-party support in the vote, saying he [...]
FTSE finishes higher as European finance ministers prepare to discuss Greek bailout proposals July 10, 2015 The FTSE 100 closed 1.4 per cent up, at 6,673 points, as hopes rose of a deal between Greece and its lenders on the €13bn (£9.4bn) bailout proposals it presented last night, ahead of a meeting between the Eurogroup of finance ministers scheduled for tomorrow. In the US, the Dow Jones was 1.1 per cent [...]
From the Tube strike and July Budget to Battle of Britain and the 7/7 London bombings anniversary: Here’s what got us talking this week July 10, 2015 There was a technical fault in New York. There was a cocktail cloud. And somewhere in crowdfunding land, there was a jacket that would make all your commutes suddenly so much better. Here's what got us talking this week 1) Battle of Britain celebrations began They kicked off with a flypast over Buckingham Palace, but [...]
Keep Greece flying: Ryanair offers Greek flights for €5 July 10, 2015 Never one to let a bandwagon trundle past un-jumped on, Ryanair has slashed prices by 30 per cent for routes to and from Greece, as part of a campaign to "Keep Greece Flying". Read more: Ryanair shares up as it approves IAG's Aer Lingus offer The airline said prices on its Athens routes to and from [...]
As it presents reform plans, is Greece’s position in the Eurozone untenable without debt relief? July 9, 2015 Konstantinos Venetis is an economist at Lombard Street Research, says Yes Greece’s position has been untenable without debt relief for a number of years, but for a time that debt relief was forthcoming. Debt restructuring has already reduced the value of Greek debt in net present value (NPV) terms. This process could go further, with [...]
Greece could be about to enter a €2bn energy deal with Russia July 9, 2015 Greek energy minister Panagiotis Lafazanis has just revealed plans for a huge energy deal with Russia – a move that will undoubtedly fan the flames over in Brussels. Read more: European markets rise sharply on Greece hopes In a speech to energy executives in Athens today, he said Greece might sign a €2bn (£1.4bn) [...]
European markets rise sharply on Greece hopes July 9, 2015 Stocks in Europe rebounded today as a glimmer of hope emerged that Greece may reach a deal with its creditors. Read more: Ryanair boss calls Greek government "a bunch of lunatics" Portugal's PSI 20 led the rise, jumping 3.7 per cent, while France's Cac climbed 2.4 per cent and the Dax rose two per cent. In [...]
Greek crisis: Ryanair boss Michael O’Leary says Greek government is “a bunch of lunatics” and the nation should “get out and work” to pay off debts July 9, 2015 Outspoken Ryanair boss Michael O'Leary – famous for winding up his own passengers on a regular basis – has turned his own brand of “say it as it is” comments on the Greek crisis, describing the government as “a bunch of lunatics”. O'Leary – whose business operates flights to and from cities such as [...]
Greek crisis: Greek unemployment remains above 25pc as debt crisis escalates July 9, 2015 Unemployment in Greece remains over 25 per cent, as new figures show the country’s debt crisis continues takes its toll on its citizens. Figures published by Greece’s National Statistics Service this morning show unemployment at 25.6 per cent in April, down slightly from 25.8 per cent the month before. Young people are particularly affected by [...]