Euro agony spoils US party
Washington Correspondent Matt Frei parties with Chicago’s mayor and blogs on “the kind of generosity that has become less and less common in times of austerity”.
Prime Minister David Cameron holds a top-level meeting at 10 Downing Street to discuss the deepening crisis in the eurozone as Spain’s financial woes increase.
Home Secretary Theresa May says the government is drawing up contingency plans for an influx of economic migrants from Greece and other European countries if the eurozone breaks up.
Europe is threatened by an acute crisis in Spain’s banking system and predictions seen by Channel 4 News suggest a 50 per cent fall in house prices could force Spain to seek an international bailout.
In an exclusive interview with Jonathan Rugman, Syriza party leader Alexis Tsipras – who could be the next Greek premier – says logic will prevail and Greece will not be forced out of the euro.
Washington Correspondent Matt Frei parties with Chicago’s mayor and blogs on “the kind of generosity that has become less and less common in times of austerity”.
This seems a game of the Greek left versus the Bundesbank, for the soul of the eurozone.
David Cameron calls for a “lasting solution” to the eurozone crisis arguing for a sweeping change of policy priorities to deliver growth across Europe – but without giving up on austerity.
Is this the endgame for the euro? Tonight we report from across Europe on the day leaders meet in Brussels while contingency plans are made for a Greek exit from the single currency.
The euro summit in Brussels was only intended to be an informal gathering, so what is on the political menu?
“Maybe we’re going to hell,” said Irene Lozano, an independent Deputy in the Spanish Assembly. “But if we do, we’ll take Germany with us.”
French President Francois Hollande will be pushing plans for eurobonds at a summit of EU leaders in Brussels on Wednesday, an idea German Chancellor Angela Merkel flatly opposes.
As David Cameron tells MPs that Europe must be prepared for Greece leaving the single currency, eurozone officials call for contingency planning to start.
As contingency plans are made for a Greek euro exit, Channel 4 News Economics Editor Faisal Islam considers the impact of a “cascade of austerity avoidance” across Europe.
With the possibility of Greece leaving the eurozone after elections on 17 June, Channel 4 News looks at how the country could adopt a new drachma.
The irony is that just as the world’s embattled leaders stand increasingly accused of being out of touch they closet themselves away more and more, writes Channel 4 News Washington Correspondent Matt Frei.