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The gathering euro-avalanche
Heading to Brussels for today’s crucial eurozone summit, Jon Snow blogs that he cannot remember in his lifetime a financial crisis as bad as the present one.
Heading to Brussels for today’s crucial eurozone summit, Jon Snow blogs that he cannot remember in his lifetime a financial crisis as bad as the present one.
Is the eurozone on the brink? Channel 4 News Economics Editor Faisal Islam is in Brussels.
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.
“When your neighbours’ house is on fire” you should help to put out the fire, stop it reaching your own house and not walk away, the PM tells MPs, referring to a debate on Europe at a time of financial crisis.
French banks can “withstand whatever development” the country’s central bank chief Christian Noyer tells economics editor Faisal Islam.
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.
At the G20 meeting in Europe, the emerging economies appear so fed up with the damage done to global economic confidence by the festering euro crisis, that they might just be about to take matters into their own hands.
Overnight there were signs of more splits with Brussels, Frankfurt and within Germany’s coalition, as concern mounted for the unthinkable: that these supposed multi-trillion bailouts could lose Germany it’s gold standard credit rating.
Massive June-style protests are expected for 5th and 6th October. It could be an Argentina pots and pans moment.
Economics Editor Faisal Islam reports from Athens as the Greek debt crisis fuels further global pleas for concerted action from Europe’s political leaders.
Eurozone problems are raising Tory hopes of renegotiating the EU treaty. But as Political Editor Gary Gibbon reports, their LibDem coalition partners aren’t so keen on rowing back from Europe.
Euro crisis, poor jobs figures, massive national strikes, on top of high inflation squeezing living standards – Economics Editor Faisal Islam reports on the political response to the economic bad weather.
Faisal Islam in New York on the fears for the markets after US loses its AAA credit rating and eurozone debt worries continue.
“I awake in a Europe that is still a continent, but which appears to becoming a country.”
The introduction of a eurobond would solve the eurozone debt crisis, blogs Faisal Islam – and would lead to “the phase fiscalisation of Europe”.