Sunday, 2 May 2010

Sunday May 2, 2010




ECONOMICS

Bank of England

Bank rate 'will remain low for four years'

Mervyn King says that rates will be held down longer than the markets expect to offset the pain of tax rises

Prepare for crisis, warns Tory czar

Can Britain fight off the Greek debt monster?

Europe may offer Greece a bailout today. Will that stop the sovereign debt crisis, ask David Smith and Danny Fortson

Germany orders bankers to share Greek pain

Eurozone governments waiting for a signal from Athens a deal had been completed between the Greek Government, the ECB and IMF

In a land of culture, pride lies in art of corruption

It will be a battle to alter the ‘kleptocratic model’, where palm-greasing is by no means limited to servants of the State

One in five Spanish workers is jobless

After 10 years of good times, a sharp downturn in construction industry as economy contracts for sixth consecutive quarter

Eurozone bashes banks as Greek lapdog strays

The International Monetary Fund and European Central Bank are demanding a bonfire of Greece’s welfare state

US economy posts slower than expected growth

Rate of increase fell below forecasts for the first quarter but a surge in consumer spending may sustain recovery

Greeks face years of tax, pensions and pay misery

Athens reported to have agreed retirement age rise from 53 to 67 and to severe pay cuts as part of €24bn bailout

Greek public say they are the scapegoat

Athens view: Spring sun could not ease the grim mood as word came that the Greeks were to be gouged for years

Too late, Japan wakes up to the world

Over the next days delegations will be dispatched around the globe to sell Japan before people lose interest

Tokyo to the rescue of key exporters

Japan will build a 10 trillion yen fund to support exporters as they bid for contracts in developed and emerging markets

Political economy: Storm warning for sterling

There is renewed City support for David Cameron’s warnings about Britain’s standing in the international financial markets

Greece signs up to €24bn austerity package

Government urged to agree savage cuts but deal to secure rescue threatened by German political infighting

Britain will hate new Government, says King

Measures will be so unpopular that election winner will not get back into government for a generation, says Governor

You have our support, Sarkozy tells Greece

The French President says that he is in agreement with Germany over solving the debt crisis as FTSE 100 makes small recovery

Spain hit as Greek 'illness' spreads over Europe

Fear of 'contagion' grips Europe's financial markets as Spain’s credit rating is downgraded

Fed votes to keep foot on interest rates

Rates will be held down for ‘extended period’ as Fed acknowledges that economy is beginning to improve in the US

ANALYSIS: rescue could shake Europe's banks

The rescheduling of debt seems inevitable and could trigger a flight from Portuguese debt, hitting Britain

Europe’s debt crisis: Storm clouds over Club Med

EU civil servants see them as freeloaders hooked on subsidies for fictitious olive groves and catchless fishing boats

Recessionsaurus