Greek bailout reforms to be ‘greatest disaster’

Recent proposed Greek bailout reforms are set to go down in history as ‘the greatest disaster of macroeconomic management ever’ according to Yanis Varoufakis, the former Finance Minister of Greece. Speaking to the BBC, Varoufakis claimed that the proposed £60bn bailout deal will fail, claiming it had already failed when […]

UK could face £1bn bill to help Greek bailout

The UK could face the prospect of contributing up to £1bn to a new Greek bailout deal due to its exposure to the European Financial Stability Mechanism (EFSM). According to Sky News, the UK has a 12% exposure to the ESFM – a fund utilised during the early years of […]

Greek bank closure sends FTSE 100 tumbling

The FTSE 100 closed down by just under 2 percent today suffering a 133 point fall following news that Greece is to close its banks for the week. During this period, banks have imposed capital controls which will see cash withdrawals being limited to approximately £42 per day from ATMs […]

Woodford warns investors of QE-inflated valuations

Speaking on his official blog, Neil Woodford has warned investors over-inflated valuations brought about by extensive quantitative easing: Without an improvement in underlying economic fundamentals, if you keep driving asset prices up, in the end you create a financial asset price bubble. We know from relatively recent history that asset […]