Economic Rescue Package
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Monday 05 July 2010
Following fast on the declaration of additional help for Hungary, Ukraine – another early victim of the credit crunch – has announced that it too will apply for fresh funding; a loan of $14.9bn to help plug the country's budget deficit and boost investor confidence.
Saturday 03 July 2010
Hungary is to ask the International Monetary Fund and the European Union for a "precautionary" two-year financial rescue package worth between €10bn and €20bn, proving that even the earliest victims of the credit crunch remain in intensive care.
Tuesday 29 June 2010
Britain's mountain of debt could leave the country powerless to launch another rescue bid in the wake of a fresh financial crisis, the world's central bankers warned yesterday. Their "club" - the Bank of International Settlements - presented in its annual report a frightening picture of the impact of a second banking emergency on heavily indebted nations such as Britain.
Tuesday 22 June 2010
Eleven years since Toy Story 2 broke cinematic convention by proving to be a better film than its original, British audiences must endure the best part of another month before catching the third instalment in the adventures of Woody, Buzz Lightyear and the rest of the toy cupboard.
Tuesday 15 June 2010
What is unambiguously clear about the European economies, including that of the UK, is that if they all decide to cut their borrowing, slash spending and raise taxes, and do so at the same time, growth will be lower than it otherwise would have been. It means that there will be fewer people in work than would otherwise have been the case, and, because tax revenues will be depressed and unemployment benefit payments higher, the improvement in budget deficits will be much less than hoped for. It a classic Keynesian paradox; what is good for one nation can be disastrous for all. There is a risk that the European economy will go into a "double-dip" recession. Although obviously important, that doesn't matter so much as the big picture: stagnant economies poised on the edge of deflation.
Thursday 03 June 2010
Thursday 13 May 2010
Wednesday 12 May 2010
Friday 07 May 2010
Shareholders in Lloyds Banking Group questioned its board on management, pay and incentives at the bailed-out lender's annual meeting in Edinburgh yesterday, but ultimately supported its executive pay plans. Only 8.5 per cent of votes were cast against the remuneration report.
Thursday 06 May 2010
The crucial Greek austerity bill was passed by parliament tonight.
Saturday 01 May 2010
Greece and the wider eurozone scrambled back from the brink of disaster again yesterday as the outline of an IMF/eurozone rescue package emerged.
Tuesday 27 April 2010
Monday 19 April 2010
Monday 08 March 2010
Wednesday 03 March 2010
The cost of the financial crisis may be much less than was initially feared, the chairman of the Financial Services Authority said yesterday.
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