Greece rejects bailout extension proposals as Juncker takes positive stance on deal June 26, 2015 Greece has rejected proposals for a five-month extension to its bailout deal – as European President Jean-Claude Juncker took an optimistic stance on the chances of the country reaching a deal with its creditors this weekend. Read more: Has the IMF compromised its credibility over Greece's bailouts? At a press conference following two days of [...]
London house prices: The average cost of a single brick in the capital is now just shy of £200 June 26, 2015 Rocketing house prices in the capital mean the average brick in a London house (RRP: 67p) is now valued at just short of £200, research has found (assuming it's attached to other bricks, and a bit of mortar, that is…). The research, by online estate agent HouseSimple.com, was based on the fact it takes about [...]
How important is the EU to UK trade? June 26, 2015 The European Union is larger than any individual economy in the world, surpassing the USA, China and other Bric economies. Yet, the growth of non-EU economies has outpaced the growth of EU economies, largely driven by the growth of these Bric economies, meaning the EU’s share of global GDP has fallen from 30 per cent [...]
Greek crisis: Merkel says talks “going backwards” as finance ministers fail to agree June 25, 2015 There were worrying signs of a damaging stalemate at talks between Greece and its creditors, as Angela Merkel played down chances of a deal on Thursday. Merkel said: We still haven't made the necessary progress; in some places it looks like we're even going backwards. Greek Prime Minister Alexis Tsipras was again unable to agree [...]
IMF will “not extend Greece repayment deadline” if it fails to pay on 30 June June 25, 2015 The International Monetary Fund (IMF) will not extend a repayment deadline for Greece if it fails to pay up on 30 June, the organisation's spokesman said today. Read more: Eurogroup negotiations break up "indefinitely" During a bi-weekly press conference, Gerry Rice said the fund would not extend the repayment deadline, even if a deal was [...]
Greek crisis: Euro dips as deadline looms on Greece negotiations June 25, 2015 Eurozone ministers have told Greek leaders to draw up improved economic reform proposals, after a Eurogroup meeting was "indefinitely suspended" this afternoon. The news came after Greece's creditors sent a new proposal to the Eurogroup which, it was hoped, could form the basis of an agreement between Greece and its lenders. Reports suggested the new [...]
Two graphs that show how expensive living in the UK is – rents are double the continental average June 24, 2015 Private rents in the UK are the highest in all of Europe, analysis by the National Housing Federation shows. Getting a tough ride compared to European counterparts, rents in the UK also take up the largest chunk of people’s salaries, while they are also the least secure. UK rents, according to the analysis, average at [...]
Northern powerhouse project: Finance, science, and tech industries creating two-speed housing market, could boost north June 24, 2015 A big boost for the northern powerhouse project? Areas that have embraced the science, technology and finance industries have enjoyed disproportionately high house price growth, according to research from Savills. The fillip given to areas with a large number of companies in key industries suggests encouraging growth in such industries in the north could lead [...]
Greek crisis: Leaked document shows creditors still at odds with Greece June 24, 2015 A document leaked this afternoon shows deep divisions remain between Greece and its creditors over crucial issues such as taxation and pensions. Read more: Can Greece get past its sticking points? The document, leaked to several sources including the FT, showed Greece's original proposals, heavily edited by its creditors. Issues such as VAT and pensions remain massively [...]
The world’s most entrepeneurial countries: Uganda tops the list while UK comes 37th June 24, 2015 Uganda is the most entrepreneurial country in the world, according to an analysis by Approved Index. Read more: Why the government's "Help to Grow" could transform UK entrepreneurship The African country, whose economy was devastated by dictatorship only a few decades ago, now has the planet's highest proportion of people who have started businesses. [...]