Threat of Eurozone break-up will fuel a negative spiral May 27, 2012 STOCKS just about managed to snap a three-week losing streak on Friday but the FTSE is still down nearly seven per cent for this month. Selling at the beginning of May would have been smart. For now, it’s hard to see how asset markets won’t continue to be held hostage by uncertainty surrounding a possible [...]
Lagarde hit by furious Greek tax backlash May 27, 2012 IMF chief Christine Lagarde was hammered by a furious backlash from Greek politicians and members of the public over the weekend after she suggested that Greeks should pay their taxes. Greek MPs raced to condemn one of the country’s major international paymasters ahead of a second set of elections scheduled for 17 June. According to [...]
Irish voters are on course to give the go-ahead to austerity pact May 27, 2012 IRELAND is set to give the green light to the European Union’s new fiscal treaty, according to the final opinion polls before a referendum on Thursday. The Eurozone nation will hold what is likely to be the only popular vote on the so-called “fiscal compact”, a German-inspired pact for stricter budget discipline across the currency [...]
Francois Hollande enjoys surge as Merkel’s party ratings slump May 27, 2012 CLOSE to two thirds of French people approve of President Francois Hollande’s actions in his first days in power, a poll showed at the weekend, giving him a strong foundation to face down other leaders in the Eurozone, as he pledged on the election trail. Meanwhile German Chancellor Angela Merkel’s conservatives saw their lead crumble [...]
The City backs Beecroft and not anti-business Cable – but also sees political risk in job reform May 27, 2012 SCRAPPING unfair dismissal rules and making it easier to fire workers would be good for economic growth, according to our panel of readers. However, they also recognised Adrian Beecroft’s controversial proposals would be politically unpopular and therefore difficult for the government to push through. The panel also wants small firms to face fewer regulations, and [...]
Labour MPs call for a full probe of Baroness Warsi’s expenses May 27, 2012 LABOUR MPs yesterday called for a full investigation into the expenses of Conservative Party co-chair, Baroness Warsi, after reports she claimed for staying at a house where she paid no rent. Shadow business secretary Chuka Umunna called for a “proper independent investigation” and MP John Mann said he would ask the Lords Commissioner for Standards [...]
Clegg plays down migrant plans May 27, 2012 DEPUTY Prime Minister Nick Clegg has brushed off claims that the UK plans to “pull up the drawbridge” for immigrants if the Eurozone’s financial crisis worsens. Clegg told the BBC’s Andrew Marr yesterday that “breathless talk” of a wave of migrants from the bloc in the event of a Greek exit or break-up is “apocalyptic” [...]
Branson rejects media-created row over deficit May 27, 2012 SIR RICHARD Branson last night hit out at claims that he no longer backed the government’s deficit reduction plan, arguing The Observer had selectively quoted him yesterday, misrepresenting his policy stance. Virgin Group founder Sir Richard backed George Osborne’s economic policies in 2010 and, contrary to reports, says he has not withdrawn that support but [...]
Hunt and Blair to face a grilling from Leveson inquiry this week May 27, 2012 GOVERNMENT ministers will appear before Lord Justice Leveson this week, as his inquiry into media ethics probes the coalition’s relationship with the Murdoch stable. Jeremy Hunt, whose close ties with high-level staff at News Corp have landed him in hot water, is set to answer questions about his behaviour and that of his employees on [...]
Cable considers a coalition split before the next general election May 27, 2012 THE COALITION could well be dismantled in advance of the next general election to allow the Liberal Democrats and the Conservatives to compete against each other, business secretary Vince Cable said yesterday. While he said there has not yet been “a great deal of thought” into the last days of the coalition, he said there [...]
