Euro Crisis

The Cypriot Parliament has just voted against the bailout package presented over to the table by the Eurozone. Thirty six votes turned down the proposal with 19 members of the Parliament abstaining, defeating the rescue measure that would have levied a tax on deposits in the island-state of Cyprus. The abstained votes came from President Nicos […]

The whole world has set their eyes on the events unfolding in the tiny island state of Cyprus, whose Parliament is set to vote on whether to uphold or reject the bailout terms presented by 17-member Euro currency bloc. At the time I started my writing of this article, the Cypriot Parliament has just started […]

Stock markets around the globe treaded downhill in reaction to the planned bailout of Cyprus that will see deposits in banks within the island state charged a one-time levy to avert bankruptcy – a move that spark public rage amongst Cypriots as well as emptying of ATM’s. On Saturday, the European Union and the International […]

Leading ally of German Chancellor argues currency will be stronger without Greece Alexander Dobraindt, leader of Germany’s Christian Social Union (CSU) and a close ally of Chancellor Angela Merkel, has argued that the euro would be stronger without Greece. Arguing that the “greatest risk for the euro is still Greece” Mr Dobraindt said that whilst […]

The full story and the fallout from the UK downgrade and the Pound Sterling falling. UK GDP Growth Grows Beyond Previous Estimate PUBLISHED:  27 Feb 2013 @ 12:11 The British economy grew more than expected, updated figures from the UK’s Office for National Statistics (ONS) revealed earlier today. In its report, ONS showed UK’s gross domestic […]

Italian election leaves inconclusive result causing sharp market falls European markets have opened to falls following an inconclusive result in the Italian elections, with the Frankfurt and Paris exchanges falling by over 2%. Closing whilst election results were being announced New York’s Dow Jones Industrial Average fell by 1.55%. By late morning trading Europe’s major […]

Increasing pressure on UK Chancellor after Moody’s downgrade and sterling concern. The UK’s senior economics minister George Osborne has said the government will “redouble its efforts” to reduce the country’s debts after rating’s agency Moody’s downgrade the UK from AAA to Aa1. Speaking in a House of Commons debate Mr Osborne argued that the rating […]

The UK has lost its AAA credit rating following Moody’s downgrade Rating’s agency Moody’s has downgraded the United Kingdom from AAA to Aa1 following slow growth and increasing national debt, saying that it believes “the risks to the growth outlook remain skewed to the downside”. Whilst noting that it had “considerable structural economic strengths” Moody’s […]

The Eurozone is expected to shrink further in 2013, the European Commission acknowledged, reversing its earlier forecast of growth in the 17-member Euro-denominated region as their economies undergo a “balance-sheet adjustment process” that will weigh on short-term growth. In a report today, the Eurozone is expected to contract by 0.3% after shrinking by 0.6% in […]

Finance ministers and central bank governors of the G20 member states pledged to take necessary actions to prevent the practice of tax base erosion and profit sharing, following the conclusion of the G20 summit in Moscow. The move came following the discovery in recent months that some multinational corporations had paid little or less taxes […]