Euro Debt Crisis
Spanish regulator suspends trading in Bankia sharesShares in Spain's Bankia have been suspended from trading ahead of a board meeting later today that will decide how much state aid the part-nationalised bank needs. |
The end looks nigh for Greece as euro summit ends in stalemateThe 18th European summit since David Cameron became Prime minister ended in stalemate and governments are increasingly looking to plan B and the exit of Greece from the euro. |
OECD warns UK disposable incomes will fall for two more yearsThe Organisation for Economic Co-operation and Development (OECD) has warned that inflation will grow faster than incomes in the UK for two more years. |
Osborne admits to contingency plans in case of euro collapseBoth the Chancellor, George Osborne and the Prime Minister, David Cameron have admitted that plans are being drawn up to deal with a potential collapse of the euro. |
G8 summit ends with pledge for eurozone focus on jobs and growthThe G8 summit has ended with US President Obama urging the eurozone to focus on jobs and growth. |
New UK recession would cause "permanent damage" says OBR's ChoteThe Chairman of the Office for Budget Responsibility has warned that a Greek euro exit could herald a new deep UK recession causing "permanent damage" to the UK. |
Cameron: Eurozone at crossroads - It has to make up or break upIn a speech to business leaders in Manchester today, David Cameron vowed to do whatever it takes to “keep Britain safe” in the event of a Eurozone break-up. |
Yield on Spanish medium-term bonds leaps to more than 5%The yield on Spanish medium-term bonds increased in a sale today as it was confirmed that the country has entered recession amid fears of an escalation in the Spanish banking crisis. |
BoE cuts growth forecast and warns of higher inflationThe Bank of England has released its Quarterly Inflation Report and Sir Mervyn King has cut the growth forecast for 2012 to 0.8 per cent and says inflation will remain above 2% for at least the next year. |
King blames euro debt crisis for UK woes as euro shares slideThe euro has plummeted to a four-month low against the dollar and global stocks have plunged amid mounting speculation that Greece could be forced to quit the Eurozone. |
Eurozone avoids recession by the skin of its teethGDP data released today shows overall the eurozone was flat in the first three months of 2012 but that a wideninggap is emerging between northern and southern eurozone countries. |
Germany grows, France stagnates ahead of Hollande-Merkel meetingThe German economy has roared back to growth, expanding by 0.5 per cent, whilst the French economy was flat in the first quarter of 2012, new GDP data reveals. |
Spain forces banks to raise capital to clear property assetsThe Spanish government says its bank need to raise an extra €30 billion to protect themselves against bad assets. |
Will a new French President signal a shift in euro economic policies?voters in France and Greece have rejected parties who agree with the austerity measures supported by Germany to help manage the euro debt crisis, potentially putting the eurozone at a crossroads. |
Eurozone unemployment up by almost 500,000 in three months169,000 people in the 17 countries of the eurozone lost their jobs in March taking the total in the first quarter of 2012 to 493,000 fuelling concerns of an escalation of the euro debt crisis. |
A quarter of Spanish people have no jobThe Spanish economy appears to be heading towards a bailout following grim unemployment figures released just hours after Spain's credit rating was downgraded to BBB+ by S&P. |
Markets hit by Spain bailout fearsThe eurozone was at the centre of another crisis on Tuesday amid concerns that Spain could become the fourth country to need an emergency bailout from the EU. |
Spain launches €27bn austerity cuts as Europe raises bailout fundsSpain has announced record austerity measures as it attempts to reduce its debts whilst the Eurozone agrees to raise the funds available for its bailout facilities to €700 billion. |
Further job losses expected in banking sectorThe UK’s five biggest banks are to cut more jobs after profits were hammered by PPI claims, the euro debt crisis and higher regulatory costs, a report reveals. |
Greek bailout agreed after bond holders agree debt swapGreece is likely to receive its next bailout of €130 billion and avoid defaulting on its debt after holders of Greek debt agreed to losses of over 50 per cent. |
ECB offers banks a further €530bn through loan schemeMore than 800 European banks have applied for funds totalling €530 billion through LTRO, the European Central Bank’s cheap loans programme. |
Eurozone agrees second Greek bailout but doubts remainEurozone leaders have agreed to advance Greece a second bailout, this time of €130 billion but doubts persist that it will be enough to support the Greek economy. |
Hague warns on Greek euro exit as second bailout finalisedSpeaking on the BBC's Andrew Marr show, the Foreign Secretary, William Hague has warned Greece on the perils of leaving the euro that was "built without exits". |
US stock market recovers to near pre-Lehman levelsThe main stock market index in the United States, the S&P 500 has recovered and is close to the trading levels seen before the financial crisis of 2008. |
Second Greek bailout deal expected to be announced on MondayThe second bailout deal for Greece is close to being finalised and eurozone officials expect the details to be announced on Monday when the markets reopen. |
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