Eurozone factory figures tepid in June as Greek fears drag markets July 1, 2015 Eurozone factory growth picked up slightly last month but remained tepid as uncertainty around Greek debt talks – and the country’s possible exit from the bloc – swept across the region, a survey found yesterday. Fears of further Greek turmoil, and a possible exit from the euro, kept Markit’s final Eurozone manufacturing purchasing managers’ index [...]
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 [...]
Chancellor George Osborne says no-one should underestimate the impact of a Greek exit from the Eurozone June 29, 2015 George Osborne has reiterated Britain’s attitude regarding Greece is to “hope for the best, but plan for the worst,” in a speech to the House of Commons. The chancellor told MPs no-one should understate the "impact a Greek exit from euro would have on the European economy and the knock-on effects on us." This is [...]
Richard Branson: UK would be better off in Eurozone June 28, 2015 Britain would be better off in the Eurozone, billionaire investor Sir Richard Branson has said. “I think that if we were part of the euro right now, our currency would be a lot cheaper,” the Virgin founder said in an interview with the BBC yesterday, adding: “Great Britain would be doing that much better in [...]
Greek debt crisis: IMF head Christine Lagarde says Eurozone is “in strong position” June 28, 2015 The head of the International Monetary Fund has expressed confidence in the Eurozone's ability to manage the ongoing Greek debt crisis. Christine Lagarde said Europe is in "a strong position to respond to developments in a timely and effective manner, as needed" in a statement, following the Greek government's backing of a referendum on a [...]
FTSE 100 riding high as Greek deal fuels Eurozone – London Report June 23, 2015 Britain’s top share index edged higher yesterday, lagging a Greece-fuelled rally in Eurozone shares as weak results from outsourcing company Bunzl dragged on gains. There was also little cheer from the Confederation of British Industry’s (CBI) monthly industrial trends survey, which showed British factory orders grew this month at their weakest pace in almost two [...]
As June PMIs point to continuing recovery, has the Eurozone finally turned the corner? June 23, 2015 Anna Stupnytska is global economist at Fidelity Solutions. @AnnaStupnytska, says Yes The Eurozone recovery is becoming well-entrenched, with Flash Purchasing Managers’ Indices for June pointing to further acceleration in the second quarter. Labour market healing continues and inflation is out of deflationary territory. Crucially, this improvement has been broad-based across the Eurozone. Four main tailwinds [...]
Eurozone business growth accelerates to a four-year high in June June 23, 2015 Eurozone business growth accelerated to a four-year high in June, as factories and services firms reported stronger growth and hiring. The Markit Composite Flash Purchasing Managers' Index (PMI) rose to 54.1 in June, up from 53.6 a month earlier, and in line with economists' expectations. PMI has now been above the crucial 50 threshold that separates [...]
Greece will only have a fighting chance of revival if it leaves the Eurozone June 22, 2015 There are, apparently, still hopes that some deal can be done with Greece this week so that the final €7.2bn tranche of the current €240bn bailout can be released. If this is the case then, presumably, talks will go ahead for a third bailout and thus the Greek saga struggles on. Sadly, however, all this [...]
Jean-Claude Juncker lays out two-year plan for reforms across the Eurozone June 21, 2015 European Commission president Jean-Claude Juncker has set out a decade-long timeline for Eurozone reforms. In a report commissioned by European Union leaders, which involved input from the presidents of the European Central Bank, European Parliament, European Council and Eurogroup, the Commission calls for the completion of the euro area’s economic and monetary union, with “immediate [...]