Greek crisis: No vote does not mean leaving the Eurozone, says Tsipras July 1, 2015 Greek Prime Minister Alexis Tsipras has said a "no" vote in Sunday's referendum on whether to accept economic and fiscal reform proposals from creditors does not necessarily mean the country will leave the euro. Read more: Greeks are going mad for Bitcoin In an address on Greek television in which he confirmed that the referendum [...]
Will the Greek crisis lead to contagion and spread of fear in other European countries? July 1, 2015 As uncertainty over Greece's future in the euro continues, questions have been asked about how a Greek exit from the euro will affect other nations. If Greece has to abandon the euro, consequences, or "contagion", to other nations could be dire. Particularly those – such as Spain and Italy – whose recovery is still shaky. [...]
Greek debt crisis referendum result: Paddy Power pays out on a Yes vote before Sunday poll July 1, 2015 Paddy has paid out on bets for a Yes vote in the Greek referendum due to be held on Sunday. Read more: Every question you have on Greece answered The bookie said it has stumped up a five-figure sum to punters backing Greeks to vote for the new bailout offer on the table. The chances of [...]
Mark Carney voices concern about Greek crisis in Bank of England Financial Stability Report July 1, 2015 The Bank of England was unable to give a stable outlook for the UK’s financial stability due to the ongoing Greek crisis, in its financial stability report today, saying the risks in relation to Greece and its financial needs “were particularly acute”. Mark Carney, the Bank's governor, warned the outlook for financial stability has worsened, [...]
Russia freezes gas supplies to Ukraine July 1, 2015 Russian gas company Gazprom announced today that it has stopped all natural gas supplies to Ukraine, after a bid to hash out a quarterly price agreement between the two countries fell through. "Ukraine did not pay for July gas supplies," Gazprom said in a statement. "Gasprom halted gas supplies to Ukraine from 10am (7.00am GMT) [...]
Euro leaps as reports suggest Alexis Tsipras may be ready to accept creditors’ conditions July 1, 2015 The euro leapt 0.25 per cent to 0.71139 against the pound, reversing earlier gains after reports suggested Alexis Tsipras is ready to accept bailout conditions set by Greece's creditors as Eurozone leaders prepare to discuss the prospect of providing the country with a third bailout later today. Read more: Every question you have on Greece [...]
UK manufacturing sector growth slumps to a two-year low July 1, 2015 The UK manufacturing sector grew at its slowest pace in more than two years, partly due to a strong pound strangling European demand for exports. The Markit/CIPS manufacturing purchasing managers' index (PMI) fell to 51.4 in June, the lowest since April 2013, and from a downwardly revised figure of 51.9 a month earlier. However, the [...]
European markets make first gains in days following Greek default July 1, 2015 Equities investors across Europe threw caution to the wind today, as markets made their first tentative gains in days following the standoff over Greek debt. Read more: What happens next? Every question you have on Greece answered The FTSE 100 was up 0.5 per cent in early trading this morning, while Germany's Dax rose 0.6 [...]
Businesses urge the government not to delay after Airports Commission report’s recommendation to build a third runway at Heathrow airport July 1, 2015 This morning a report from Sir Howard Davies' Airports Commission recommended the building of a third runway at Heathrow Airport, saying it could provide £147bn of economic growth and 70,000 jobs by 2050. The report has been a long time coming: former London School of Economics chief Davies was appointed three years ago to lead [...]
Greek default: What happens next? Will the referendum lead to a Grexit? What if Greeks vote “no”? All your questions answered July 1, 2015 Last night the inevitable happened and, despite attempts by the country's leaders to persuade the Eurozone to provide it with a third bailout package, Greece failed to stump up the €1.5bn (£1.1bn) it owed the International Monetary Fund (IMF). On Sunday, the country will hold a referendum, asking its people whether they are prepared to [...]