Mark Carney fears UK at risk from Greek contagion April 7, 2015 Britain’s banks and insurers could be in danger if Greece leaves the Eurozone, the Bank of England warned yesterday. The UK is not heavily exposed to Greece itself, but if it exits the single currency then it could cause financial panic in other indebted economies like Spain and Italy, which would then hit Britain hard. [...]
Greece bailout: Future looks brighter for struggling economy as Yanis Varoufakis says he’ll meet all obligations to creditor nations April 6, 2015 Greece's economic situation is on the brink of improving slightly, as long as finance minister Yanis Varoufakis sticks to his word. Yesterday, he told the troubled country's creditor nations that Greece intends to “meet all obligations”, and that includes a €450m (£332m) loan repayment due to be made to the International Monetary Fund (IMF) on [...]
Greece bailout: Greeks hoping for partial verdict on reform plans this afternoon March 31, 2015 Reforms proposed by Greece in return for urgently needed bailout cash will be scrutinised this afternoon during a Euro Working Group meeting – a group of Eurozone deputy finance officials. No final decision on the reforms will be made at the meeting – which starts at 2pm – but approval would be a major step. [...]
Warren Buffett: Grexit could be good for eurozone March 31, 2015 Warren Buffett believes a Greek exit from the eurozone could be beneficial for the region. The legendary investor and chairman of holding company Berkshire Hathaway waded into the issue currently dominating headlines of business publications across the continent. During a wide-ranging interview on US news channel CNBC, Buffett discussed electronic car manufacturers Tesla, the proposed [...]
Greece bailout talks: Greek government defends reform plans against German criticism March 30, 2015 The Greek government last night hit back at claims by Germany that its reform plans are too vague for an agreement to be struck over much-needed bailout payments. Greece and its creditors were locked in tense discussions throughout the weekend, after Athens submitted plans last Friday. The government is tasked with reining in borrowing while [...]
European markets rise on Fed rate hike caution March 30, 2015 European markets started the day higher, after comments made by US Federal Reserve chief Janet Yellen hinted at "gradual" rate rises, reassuring investors. The FTSE 100 opened 0.6 per cent up, while Germany's Dax jumped 1.23 per cent and France's Cac 40 rose one per cent. Investors have showed caution in recent weeks after a [...]
These are the four biggest threats to financial stability, according to the Bank of England March 26, 2015 The financial policy committee (FPC) which looks after financial stability over at the Bank of England, has outlined the areas it intends to keep a closer eye on in its quarterly assessment released today. 1. Geopolitical turmoil Eurozone turmoil could pose a threat to future financial stability. There have been some encouraging signs recently but [...]
Angela Merkel and Alexis Tsipras talks light on substance – but at least they’re smiling again March 23, 2015 German Chancellor Angela Merkel struck a conciliatory tone with her Greek counterpart Alexis Tsipras during talks last night as the two sought to repair the countries’ torn political relations. However, no substantial policy agreements were made with Greece still facing the prospect of running out of cash if it is unable to propose a suitable [...]
Mario Draghi defends ECB policy decisions after QE rollout March 23, 2015 European Central Bank (ECB) chief Mario Draghi yesterday hit back at claims that new monetary policy measures would reduce the need for governments to undertake reforms, ultimately harming growth prospects. “Do you really think a high level of interest rates would form an incentive for a government to improve its education system, or judiciary, or [...]
Yanis Varoufakis cancels City Week speech to go to Athens March 23, 2015 Greek finance minister Yanis Varoufakis has pulled out of City Week, cancelling his plan to speak to City and global investors about Greece. Just last week his office was confirming that the high profile former professor would be giving a presentation, titled “Future of Europe: the Greek perspective” this afternoon. But instead he is [...]