Sunday, 19 June 2011

Economics

The latest news, analysis and comment on the UK and global economy.

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ECONOMICS NEWS

Battle lines drawn for a eurozone debt war

While Molotov cocktails burn on Athens’ streets, more vitriolic battles yet are blazing over Greece’s debt crisis behind the scenes, as financial markets and eurozone politicians fight their ground .

18 Jun 2011

Why Germany must exit the euro

Germany - not Greece - has 'destabilised the euro area and is one of the biggest road-blocks to its ultimate recovery.

18 Jun 2011

Vince Cable: 'Britain is a poorer country'

In a speech to a Liberal Democrat think tank in central London, the Business Secretary admits that Britain's economic problems have caused living standards to fall.

18 Jun 2011

SEC investigates role of Moody's and S&P in financial crisis

US regulators are reported to be considering civil fraud charges against the rating agencies as part of a broader investigation into the sale of mortgage debt in the run-up to the financial crisis.

18 Jun 2011

UK interest rates 'will not rise until 2013'

Britain will not see interest rates start to rise until 2013, despite suffering the “most pronounced inflation problem” of any advanced economy, according to economists at BNP Paribas.

18 Jun 2011

IMF warns on threat of US, eurozone debts

The International Monetary Fund warned that Washington and debt-ridden European countries are "playing with fire" unless they take drastic steps to reduce their budget deficits as it cut US growth forecasts.

18 Jun 2011

Threat to downgrade Italy raises eurozone contagion fears

Moody's has threatened to cut Italy's credit ratings on concerns over a possible rise in eurozone interest rates may derail the country's fragile economic recovery, raising more fears of contagion from the Greek debt crisis.

18 Jun 2011

Greek bail-out hopes rise after German retreat

Angela Merkel forced to abandon tough stance on Greek debt amid warnings it would trigger the eurozone's first-ever default.

17 Jun 2011

UK economy: tougher love needed if we are to recover

Telegraph View: The world's new economic order demands that we work harder, demand more from our young and prevent an easy life on benefits.

17 Jun 2011

Greek debt crisis: as it happened June 17, 2011

Euro recovers, FTSE rallies and Greek bond yields fall after Merkel-Sarkozy show of unity on Greek debt.

17 Jun 2011

Debt ridden countries 'playing with fire'

The IMF has cut its forecast for US economic growth, warning Washington and debt-ridden European countries that they are "playing with fire" unless they take immediate steps to reduce their budget deficits.

17 Jun 2011

Profile: Greece's new finance minister Evangelos Venizelos

Greek prime minister George Papandreou appointed current defence minister Evangelos Venizelos as his new finance minister in a reshuffle on Friday. Here are some key facts about Mr Venizelos.

17 Jun 2011

Blackberry's blues

Business Bullet: From Greece and oil to Blackberry and UK rates

17 Jun 2011

Greece announces cabinet reshuffle

Greek Prime Minister George Papandreou announced a broad cabinet reshuffle on Friday to counter widespread anger over tough new austerity measures essential to prevent Greece from a disastrous default.

17 Jun 2011

Billions more to be pumped into Greek bail-out

The IMF is preparing to pump more money into Greece’s stricken economy in an attempt to calm turmoil on the financial markets.

17 Jun 2011

ONS defends its construction survey

The Office for National Statistics has insisted its construction survey is the biggest and best following accusations that its data for the sector has skewed the picture of how the economy is faring.

17 Jun 2011

Ireland bank bondholder haircut warning

Plans to impose some of the costs from Ireland's banking bail-out on to senior bondholders could risk shutting its banks out of the capital markets for several years, City analyst and investors have warned.

17 Jun 2011

Greece's ace card: help us or we'll take you all down

Rarely have the goings on of the Greek parliament commanded so much international attention. Once a complete irrelevance, its machinations, and in particular its apparent refusal to accept austerity, have assumed centre stage.

17 Jun 2011

The Left's loose fiscal ambitions would put us on the same path as Greece

It was particularly pertinent for Ed Balls to call for a cut in VAT, against a backdrop of growing public sector militancy, on the day that Greek insolvency once again dominated markets.

17 Jun 2011

Retail sales slump to lowest level in 16 months

Retail sales shrank at their fastest rate last month since the end of the recession, as consumers tightened their belts in the face of falling levels of disposable income.

17 Jun 2011

Make no mistake: we will reform public sector pensions

A minority of unions seem hell-bent on premature strike action before discussions are even complete, says Danny Alexander.

16 Jun 2011

Global market rout: as it happened

London's blue chips slide to three-month low as crisis continues.

16 Jun 2011

Greek debt crisis is Europe's 'Lehman moment'

Stock and bond markets lurched on Thursday amid fears that the Greek sovereign debt crisis was about to unleash a "Lehman-like" shock on the global financial system.

16 Jun 2011

Americans return to pessimism about economy

More Americans are pessimistic about the economy than optimistic for the first time in three years, according to a new opinion poll reflecting this year's unexpected slowdown.

16 Jun 2011

The Greek bail-out: what’s going on?

The country needs another huge bail-out. The impact on the euro and Britain could be enormous, says Edmund Conway.

16 Jun 2011