Channel 4 News Economics Editor Faisal Islam says the European Financial Stability Facility bailout fund is being “quietly forgotten” in favour of the European Stability Mechanism.
Does it matter who is PM of Greece? The astonishing example of Greece’s Project Helios shows just how sovereignty transfer works in a crisis.
The Greek referendum has sent Greek politics into chaos. But it has also disarmed the euro bailout agreed last week, sending government borrowing costs soaring and share prices crasing across the rest of the eurozone.
Sarah Smith ponders the price Europe will pay if it accepts China’s cash.
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.
“I awake in a Europe that is still a continent, but which appears to becoming a country.”
Jonathan Rugman blogs from Athens, where a two-day strike against austerity measures needed to secure an EU/IMF bailout is beginning. One man tells him the crisis has been a “plague” for Greece.
Jon Snow
Two articles over the past few days describe the core of the crisis in the integrity of the political classes.
As Ireland hears the austerity measures that are part of the condition of its European bail-out, Faisal Islam blogs on the wrecked economy which sees Paddy Power become the most valuable financial institution in Ireland.
Usually, a nation which has applied for a bailout will easily pass an austere Budget. But in Ireland, it’s rather more complicated, writes Faisal Islam from Dublin.
Our Economics Editor reflects on yesterday’s tumultuous events in Dublin and warns of an unpredictable time ahead for Ireland and Europe.
Gary Gibbon
Our Political Editor recalls the last time the Treasury got involved in a banking bailout – and wonders if there’s another reason George Osborne favours Ireland.
Gary Gibbon
Our Political Editor says that Britain’s share of international loans to Ireland could range from £7-9billion.
Irish TV is calling it the biggest decision ever made by an Irish government, as the country goes cap in hand to Europe and the IMF for a bail-out, writes Faisal Islam.
Britain could make bilateral loans to Ireland to prop up its economy – a move which would have been “unthinkable” until this week, as Faisal Islam writes.