Greeks submit reform plans: Yanis Varoufakis’ proposals to Brussels – and the points of contention February 24, 2015 The hard work of negotiating a new Greek settlement looked set to begin in earnest yesterday as the Eurogroup ministers accepted Athens’ list of proposals as a starting point for talks. Greece was supposed to send the list to officials on Sunday or Monday, but the letter was finally sent yesterday. It includes changes to tax [...]
UK to send advisers to Ukraine – David Cameron February 24, 2015 Britain is to send military advisers into Ukraine for the first time, the Prime Minister has confirmed. Speaking to before a committee of MPs, David Cameron said the UK would send personnel to the stricken country to support government troops battling separatists. Britain, Cameron said, would be the “strongest pole in the tent.” The Ministry [...]
Our key takeaways from Mark Carney’s speech on UK interest rates February 24, 2015 During a speech to MPs earlier today, Bank of England governor Mark Carney said an interest rate hike before the end of the year looked likely. Reading out highlights from the central bank's quarterly inflation report, he told parliament’s treasury select committee that the rise would take place despite low consumer inflation, which [...]
Yellen: Fed will drop the word “patient” before it hikes interest rates February 24, 2015 The US Federal Reserve's rate-setting committee will lose patience before it hikes interest rates, promised Fed boss Janet Yellen today – although she remained cagey about when that would happen. In prepared remarks to the Senate Banking Committee, she suggested there is no "given point" at which the Federal Open Markets Committee (FOMC) will decide [...]
Eight takeaways from Yanis Varoufakis’ submission to Greece’s lenders February 24, 2015 It was only a matter of time, but the six-page document submitted by the Greek government to Eurozone leaders this morning showing the measures it plans to take in return for a four-month extension to its bailout deal has been leaked online. The FT published a copy of the document, and the contents are enlightening. [...]
Yanis Varoufakis demolishes Jeroen Dijsselbloem and Angela Merkel in this awesome rap battle February 24, 2015 Is it just us or has much of the western world has been developing a crush on rock-star economist-turned-Greek finance minister Yanis Varoufakis? When he's not wrangling with Germany over his country's debt crisis, he's out watching cool plays or throwing in casual references to literary giants. https://twitter.com/yanisvaroufakis/status/568563479076081664 He's been brought in on [...]
George Osborne misses minimum wage target for 2015 February 23, 2015 The Low Pay Commission (LPC) announced yesterday that the minimum wage for workers over 21 years old should be raised by 20p to £6.70 an hour, a three per cent rise. George Osborne has previously indicated he would like it to be higher. In January last year the chancellor said in an interview: “If the [...]
HSBC’s unhappy 150th birthday illustrates its growth: Stuart Gulliver on the highs and lows February 23, 2015 In the 1990s, Stuart Gulliver went to what look like extraordinary lengths to hide his bonus – he was paid in a Swiss account, held in the name of a Panamanian company. It looks shady, in light of the latest round of revelations of tax evasion through Swiss accounts. And the extra scrutiny comes at [...]
George Osborne challenges Ed Balls to say sorry over HSBC Swiss tax evasion scandal February 23, 2015 Chancellor George Osborne hit back at Labour over HSBC’s Swiss private bank yesterday, arguing that the wrongdoing took place and the taxman received the leaked documents under Labour, not the Tories, and Lord Green was given an advisory job by Gordon Brown. It comes after a fortnight of Labour accusing Osborne of failing to act [...]
HSBC case: Osborne could include new tax rules in budget February 23, 2015 New measures to tackle tax avoidance look set to be included in George Osborne’s budget next month in the wake of the HSBC tax case. As Osborne made his parliamentary response to the HSBC allegations he clashed with Ed Balls, the shadow chancellor. Balls accused Osborne of negligence, which moved Osborne to claim the government [...]
