Brussels 5am: Half a bazooka unleashed
A deal is reached, but Economics Editor Faisal Islam says the devil will be in the detail. The bailout bazooka will need the goodwill of the rest of the world.
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Greek Prime Minister George Papandreou may be forced to step down at any moment, Channel 4 News is told.
Amid reports that Greece’s defence minister has sacked his defence chiefs, premier Papandreou fights to hold his government together over a referendum pledge on the latest eurozone bailout.
As leading organisations warn problems in the global economy could lead to international unrest, Gary Gibbon reports on the latest setback in the eurozone crisis – a Greek referendum on the bailout.
A deal is reached, but Economics Editor Faisal Islam says the devil will be in the detail. The bailout bazooka will need the goodwill of the rest of the world.
Only weeks ago, Germans were debating her leadership abilities. But with Germany placed to dominate Europe, has Chancellor Angela Merkel won over her detractors?
An outline deal to save the eurozone has been agreed – but does it still need China’s input to succeed? Let’s hope not, because a top economist tells Channel 4 News the country may not be interested.
Reports that Italian Prime Minister Silvio Berlusconi has agreed to resign in the next three months are denied by his office.
Bank of England Governor Sir Mervyn King tells MPs measures adopted at the eurozone summit will only provide “a year or possibly two years’ breathing space” and the underlying problems remain.
Students and lecturers say the drop in applications to university is due to the government’s tuition fees rise. But Universities Minister David Willetts, speaking to Channel 4 News, disagrees.
David Cameron has said the ongoing sovereign debt crisis is having a “chilling effect” on the UK economy and must be resolved.
Eurozone finance ministers agree to pay Greece its next bailout loans to avoid a potentially disastrous default.
A 48-hour general strike is under way in Greece causing widespread disruption. The action coincides with a vote in parliament on planned austerity measures.
The welfare system is the “root cause” of the eurozone crisis, says Jin Liqun from China’s sovereign wealth fund, and working harder and longer would solve its problems.
George Osborne tells Channel 4 News that building the resources of the IMF should not substitute the eurozone building their own bailout funds, as Europe comes under pressure at the G20 in Paris.
Channel 4 News Economics Editor Faisal Islam, explains what Moody’s downgrade of 12 UK institutions means for the public and the banks.