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Economic diplomacy is back in a big way. That was the message from last month’s G20 summit, and it continues today with high-level UK-China chinwag. The system that failed the world plunging trade and global growth to contractions not seen since World War Two was a system that was international. Gaps in regulation existed between…
“Building Britain’s Future” is the title of today’s budget, but it will be a document mired in the past. The figures released at lunchtime will make the wrong sort of long-term history, marking public debts and deficits never before seen in peacetime. But really this is a budget about recent history, about the calamitous carnage…
Europe seems to be moving into gear on the “Eastern Question” – how to stop the financial crisis in Latvia and Hungary from coming back to haunt us. EU finance ministers, meeting in Brussels ahead of a G20 summit in Sussex this weekend, say they want to double the size of IMF funds to $500bn (£362bn).…
Jon Snow
The economy shrank by one and half per cent last year. I’ve been down to talk to the chancellor, Alistair Darling. That interview is on Channel 4 News tonight. In fact highlights are already on the website. The opposition are slagging off the government for mismanagement, the Tories effectively declaring Britain bankrupt.
Within a week in October 2008 the US and UK governments were forced to bailout their banks in order to save the economic system as the credit crunch began to bite.
The collapse of Lehman Brothers in 2008 triggered financial turmoil around the world. Economics Editor Faisal Islam reveals the inside story of how close Britain came to a costly bailout.
Across the country a run on Britain’s fifth largest lender after the Bank of England offers Northern Rock unlimited support.
An opinion poll showing a small majority in favour of Scottish independence led to a fall in the value of the pound and Scottish bank shares. A taste of things to come?
Gary Gibbon
The no camp set out to vanquish independence and keep yes support in the low 30s. I haven’t heard many no campaigners predict the “low 30s” for the yes campaign in some time.
Gary Gibbon
It’s not very democratic, but “pooled sovereignty” is the order of the day as eurozone leaders wrestle to contain the Italian debt crisis. Political editor Gary Gibbon reports.
There was a lot to check out in the Spending Review – and we’ll keep on it for the rest of the week. But here’s a taster of the claims that caught FactCheck’s eye.
Jon Snow
Channel 4 News presenter Jon Snow insists there are no signs of increaed credit being made available in Europe despite the campaigns by politicians and senior economists.
Yet more indications today of Britain’s radically altered political landscape. Some irony that the Labour left’s long-desired aim to cancel a raft of multibillion pound defence contracts will, in all probability, be realised by a Conservative chancellor responding to the costs of a crisis in capitalism. I can’t get across enough how much this crisis…
The world is in an era of epic economics. So huge are the challenges, they will define domestic politics for years. Forget about the right answers, politicians are only just beginning to come up with the right questions. And in this strange new world there often is no right answer. The international aspects of the…
Jon Snow
I am watching these four bankers before the treasury select committee in the Commons. And I am watching our elected representatives struggling to rise to what is expected of them. The MPs are manifestly under-briefed in comparison with their American counterparts, who have large teams working on a thing like this. Our representatives have the…