Forget Greece: Europe is a great place to invest right now July 14, 2015 All eyes have been on Europe as the Greece crisis goes from one stage to the next. The saga has caused great concern among investors as to how European stock markets will be affected. But so far, the impact has been limited. Stock markets across Europe have been volatile, opening and closing higher and [...]
Chancellor George Osborne: No UK cash will be used in the making of a Greek bailout July 14, 2015 Chancellor George Osborne is moving to block any attempt to use British taxpayers’ money as part of the Greek bailout, Treasury sources have announced. The chancellor has apparently said he will block any move by the EU to use UK taxpayers’ money as part of Greece’s €12bn (£8.5bn) bridging loan. Osborne is reported to have [...]
Greece missed another IMF payment last night July 14, 2015 Raising virtually no eyebrows at all, the International Monetary Fund (IMF) announced last night that Greece has missed another payment – this time of about €456m (£323.9m). Lest we forget, Greece is already in arrears to the IMF, to the tune of €1.6bn, after it missed a payment at the end of June. A statement [...]
Greek prime minister Alexis Tsipras braces himself for parliamentary battle over bailout deal July 14, 2015 Greek prime minister Alexis Tsipras faces a showdown with leftwing rebels in his ruling party Syriza later today, after accepting a bailout package which capitulated to creditors' demands for more austerity, despite the Greek people resolutely rejecting this in a referendum over a week ago. Tsipras is due to push a host of new bills [...]
Grek debt crisis: Alexis Tsipras now faces scrap in Athens over new deal July 13, 2015 Embattled Greek Prime Minister Alexis Tsipras is facing a backlash from supporters after accepting the broad terms of a new bailout deal. The agreement requires Greece to undertake more reforms and austerity in return for cash, despite the country rejecting such a deal in a national referendum just over one week ago. Workers from the [...]
Greece makes further euro integration unavoidable – with big risks for the UK July 13, 2015 After months of wrangling, Eurozone leaders and the Greek government finally seem to have reached an agreement on a third bailout deal. EU politicians and the markets may breathe a sigh of relief at the prospect of some short-term stability being restored. But even if this new deal manages to stave off Grexit in the [...]
Greek debt crisis: From its €50bn fund of government assets to its bridge financing arrangements, today’s Greek deal in numbers July 13, 2015 After six months (which culminated in a tense-sounding 17-hours), Greece has finally reached a deal with its lenders which should, eventually, help to unlock bailout funds for the country. Read more: Greece deal – here's why the euro has dropped But how much is this going to cost Greece – and its lenders? Here are the [...]
Jeroen Dijsselbloem reappointed as Eurogroup head July 13, 2015 Dutch finance minister Jeroen Dijsselbloem has been reappointed as the head of the Eurogroup for another 2.5 years. Read more: Tsipras – "Greece will continue to fight" Dijsselbloem faced competition from Spanish finance minister Luis de Guindos, but in a statement the European Council said: "The decision was unanimously supported by all Eurogroup members." The Eurogroup, [...]
Greek debt crisis: Referendum spurs Greek job hunters to search abroad… and the UK is a favourite July 13, 2015 The prospect of a Grexit has caused a massive spike in the number of people looking for work outside of Greece, particularly among highly skilled workers. The country experienced a surge in citizens searching for jobs abroad as its debt crisis deepened and the referendum was announced, data from job website Indeed reveals. The share [...]
Greek debt crisis: “Greece will continue to fight”, vows Alexis Tsipras July 13, 2015 Greek Prime Minister Alexis Tsipras has triumphantly told his people that the country has "sent a message of democracy", after the embattled nation's government finally agreed a deal with creditors which will unlock three years of funding. Read more: Here's everything we know about Greece's new bailout deal In an official statement this afternoon, Tsipras said [...]