Team Europe: Financial Rescue, is what today’s events in Brussels were supposed to be. But tonight EU finance ministers are facing a race against time to have a package of support measures to underpin the euro before major markets open tonight. After acting too late on Greece, other indebted European nations started to feel the…
We were planning to interview some Greek tour operators about the financial crisis down at the vast port of Piraeus this morning, but as our taxi pulled up at the harbour, I had a sudden change of heart. Boats to distant Greek islands bobbed in the water and beckoned in the sun. Which island was…
Much of the market finally lost patience today with the umming ahhing, feet-dragging, and generalised incompetence of Europe’s multi-headed economic governance. We face an epic moment in world economics, every bit as critical as the decision to bailout Bear Stearns, and then not to bailout Lehman Brothers. “Sheer panic” was the reaction of one…
The Liberal Democrat turned to banking in this morning’s briefing and FactCheck turned to some of their statements.
For ordinary Britons, and companies, the credit bubble is as much a matter of history as the Tulip bubble. For governments, however, the credit boom is only just beginning. And Robert Stheeman is about to start running the biggest overdraft in British history. Mr Stheeman is the chief executive of the Debt Management Office, the…