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After being forced to abandon plans for a referendum on the EU bailout fund, George Papandreou will learn if his government has the backing of the Greek parliament.
Gary Gibbon
The G20 leaders plus hangers-on are currently discussing a massive boost to the IMF’s lending resources as a back-stop confidence-building measure for markets nervous about just which economy will come close to default next.
Greece’s Prime Minister Papandreou says he will not go ahead with plans for a referendum on the EU bailout, but calls for unity from opposition parties.
Nicolas Sarkozy says Bill Gates’ proposal of a ‘Robin Hood’ tax on financial transactions is “technically possible”, during the meeting of G20 leaders in Cannes.
One economist likened the euro to Hotel California “where you can check out but you can’t leave”, pointing out that, “almost no modern fiat currency union has broken up without some form of authoritarian or military government or civil war”.
Union leaders are meeting government ministers for talks to avoid the biggest public sector strike in decades.
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.
Only weeks ago, Germans were debating her leadership abilities. But with Germany placed to dominate Europe, has Chancellor Angela Merkel won over her detractors?
The moderate Islamic Ennahda party has claimed victory saying it has won over 40 per cent of votes. Channel 4 News gauges reaction from the first democratic election of the Arab Spring.
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.
In an exclusive interview with Channel 4 News MPC hawk, Martin Weale, now says the UK economy is likely to be shrinking over the Euro crisis, and that the Bank of England can’t boost economy alone.
A horrible inflation number of 5.2 per cent, an RPI number of 5.6%. Inflation is at a 20 year high, eating into people’s living standards. The misery index too, that C4 News flagged up earlier in the year is now at a 19 year high. The response of Sir Mervyn King in a speech in…
A day of riot and recapitalisation in this eurozone crisis. That’s the view from the G20 finance meeting in Paris. Protests against banks, in a week that I believe will end with the biggest bailout in world history, of the single currency, and also of the Eurozone’s banks.
The poverty projections released by the IFS and the Joseph Rowntree Trust today are pretty shocking. They are well-covered elsewhere. I would point to two things. One in four children are set to be living in absolute poverty by 2020. The Coalition inherited about one in six children in absolute poverty. the Government’s target under…
The phone call came in at 1230. An invitation to see Sir Mervyn that would have been unthinkable three or four months ago. He has only done a round of interviews like this once before, in March 2009, when QE was first launched. We only seem to get these audiences when the Governor has decided to create magic money to try to cure an ailing British economy. And I identify two tightropes he is walking.