Cameron must take control of EU reform negotiations before referendum says Conservative rebel Tim Loughton June 22, 2015 David Cameron has been told by Conservative rebels to grab EU referendum negotiations by the scruff of the neck. Read more: EU referendum could be held October 2016, according to government source The former children’s minister, Tim Loughton, said leaving the reform plan to civil servants would end up with negotiations turning to mush. Loughton rebelled [...]
Is the UK going to solve its productivity puzzle? Deputy governor of the Bank of England Jon Cunliffe says yes June 22, 2015 The productivity puzzle may soon be solved, according to a high-ranking official at the Bank of England. Read more: Osborne uses speech to lay out government plans to tackle the productivity puzzle Jon Cunliffe, the deputy governor for financial stability, said that surplus labour in the jobs market was drying up, meaning companies would have to [...]
Pension reform and a one per cent budget surplus: What proposals is Greece offering its creditors to avoid Grexit? June 22, 2015 Greece has offered to run a budget surplus of one per cent in 2015 as it fights to save its status in the Euro. It had previously fought to keep its obligation below that level. According to the proposals, reportedly seen by Spanish newspaper El Pais, Greece will also raise VAT to 23 per cent, with [...]
EU president Donald Tusk describes Greek offer as the “first real proposals in many weeks” as Euro Summit kicks off June 22, 2015 EU council president Donald Tusk has said Greece’s proposals are the “first real proposals in many weeks” as the Euro Summit on Greece kicks off. Read more: Athens stocks bounce as Greece outlines proposals Markets have rallied today, as hope grows that a deal will be reached in the coming days. It is considered unlikely [...]
Italian football club Parma declared bankrupt and will have to start next season as an amateur team in Serie D June 22, 2015 Italian football club Parma has been declared bankrupt and will have to start as an amateur outfit in Serie D, the fourth tier of Italian football, next season. It first filed for bankruptcy in March and a judge declared it should be sold, naming a price of €20m (£14.4m). There had been interest; Italian-American ex-baseball star [...]
Countdown to Grexit: Here are the key dates that could save Greece before bailout deal expires June 22, 2015 The next few days are crucial for Greece, as the country seeks to reach a deal with creditors over reforms to unlock bailout funds to save its embattled economy. The Eurogroup of finance ministers met last week in Luxembourg – a meeting considered to be the best opportunity for a deal. Talks broke down however. Then came [...]
Greece’s creditors eye up €18bn in rescue funds and six-month bailout extensions June 21, 2015 Greece’s creditors are eyeing up a deal to save its membership in the Euro, including extending its bailout by six months, offering future debt relief, and supplying up to €18bn (£13bn) in rescue funds. Read more: The key dates in the countdown to a Grexit The deal hinges, however, on Alexis Tsipras, the Greek Prime [...]
Government to sell its share in Green Investment Bank June 21, 2015 The Conservatives are set to step up their privatisation push, with the first sale of shares in the Green Investment Bank (GIB). Read more: Green Investment Bank to set up £1bn offshore wind projects Advisers from Bank of America Merrill Lynch have been coordinating with Whitehall officials to sell the GIB, which lends money to environmentally-friendly [...]
Swimmers treated for breathing problems after chlorine leak at Haven’s Wild Duck Holiday Park at Belton near Great Yarmouth, Norfolk June 21, 2015 Some 40 people had to be treated for breathing problems after a chemical leak at a Havel holiday park in Norfolk. According to Norfolk Fire Service, vehicles including an environmental protection unit had to deal with a chlorine leak, which affected a swimming pool at the park. Emergency services were first called to Wild Duck Holiday [...]
Grexit would leave Greece a failed state says former US Treasury secretary Larry Summers June 21, 2015 Greece will likely become a failed state if it leaves the Euro, according to a former US treasury secretary. Writing in the Financial Times, Lawrence (Larry) Summers said it now “appeared likely” that Greece would financially separate from Europe, and that this would be the least beneficial result for both parties. Read more: Tsipras puts [...]
