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Category Archives: Banking
Gary Cohn says the UK should stay in the EU in order to keep London as Europe’s financial capital
The head of one of the world’s leading investment banks has said Britain should remain in the EU, describing London as “a great financial capital of the world”.
Goldman Sachs’ president and chief operating officer Gary Cohn said it is the best thing “for all of us” that the financial services industry stays in London.
Bank president Mario Draghi says financial stimulus will continue until September 2016
Mario Draghi, president of the European Central Bank, has announced that he will pump €1.1tn – €60bn a month – into financial markets until September 2016, in a bid to prevent the fragile eurozone economy from grinding to a halt.
In a keenly anticipated announcement at the ECB’s headquarters in Frankfurt, Draghi said the operation would continue, “until we see a sustained adjustment in the path of inflation”.
As anti-austerity Syriza rises in the polls, threatening a crisis, experts are starting to believe default might be best for everyone
Forgiveness: it’s a rare enough quality in family life, let alone international policymaking. But if, as the polls suggest, the populist Syriza party wins next weekend’s Greek election, Athens will be asking its European brothers and sisters to forgive and forget some of the €317bn (£240bn) it still owes, so that its economy – and society – can recover from more than six years of austerity and recession.
Instead of the defiant tone that once saw Syriza’s leader, Alexis Tsipras, threatening to ditch the euro altogether, the party now hopes to negotiate an agreement with Germany and other creditors that could allow Greece to remain in the single currency – but set it on the path to recovery.
Inside its smoke-filled HQ, the far-left party is making plans to defy the EU over Greece’s debt and abolish draconian austerity measures imposed to shore up the euro. But first it must win next Sunday’s general election
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