Economic View: What happens to US rates affects the rest of the world but so too does what happens to the US economy

US Federal Reserve Chairman Ben Bernanke has introduced the term ‘taper’ to the lexicon of central banking. European Central Bank President Mario Draghi’s stated strategy is “whatever it takes”. Economic Commissioner Olli Rehn recently clarified that European policies were directed at ‘diluting’ not ‘breaking’ the link between banks and sovereigns.

The Greek government has passed another crucial hurdle in its bailout programme after it secured €6.8billion (£5.8billion) from international bailout lenders. The money, which will be allocated from the troika of the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF), comes after an agreement on further cuts to the public payroll across the country.

Europe is experiencing a huge shift in population, exacerbated by the eurozone’s rigidities

Sterling hits its weakest since mid-March

Axe swinging by George Osborne at Royal Bank of Scotland's (RBS) investment banking arm helped it to achieve top spot on the blue-chip index yesterday.

FTSE 100 surges, sterling plunges within seconds of announcement; ECB echoes with first ever forward guidance for markets

Ms Pryce showed every sign of absorption and none of nervousness

Mark Carney begins work at the Bank of England tomorrow. There is a great temptation, as you can see from the stuff that is being written about the appointment, to see this as leading to a significant shift in policy – something that will enable the UK economy to reach “escape velocity”. The fact that the Bank has been given additional responsibilities for regulating the banking system, making the job on paper at least more powerful, increases the temptation.

A couple of years ago there was universal outrage when it was discovered well after the event that Goldman Sachs  had used its bankerly skills to help the Greek government of the time disguise the country’s true financial position  so it would qualify for membership of the euro.

Croatia already effectively lives with interest rate decisions made by the European Central Bank so it might as well sign up for full membership

Ecnomic View: Understandably there has been criticism of the timing and phraseology of the Bernanke speech

The FTSE 100 index hit a 5-month low yesterday as it ended a fifth successive week of losses, while disruption in Greece signalled there could be more turmoil ahead.

London’s leading shares were today set for a fifth successive week of losses — their worst performance since the eurozone crisis triggered a summer of turmoil in markets in 2011.