Banks will remain closed and capital controls in place in Greece until Wednesday this week as firebrand prime minister Alexis Tsipras attempts to retain the Euro. With debt to GDP ratios high in many other EU member states, the effect of an unpaid 345 trillion euro debt to the ECB looks likely to become his legacy
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Greek ministers at 11th hour: “No deal unless compatible with Syriza election manifesto”
“I repeat: The deal will either be compatible with the basic lines of Syriza’s election manifesto, or there will be no deal. The prime minister is negotiating with this in mind” – Deputy Labor Minister Dimitris Stratoulis
Read MoreProfessor Steve Hanke – “Europe would be better off without Greece.”
Professor of Applied Economics at Johns Hopkins University in Baltimore Steve Hanke advocates a Grexit, stating that the nation joined the Eurozone in order that it could intentionally have no financial discipline
Read MoreWill HSBC pack its bags and leave the UK?
HSBC is set to review its domicile after tax scrutiny surrounds its Swiss private bank, and further FX manipulation fines arise. Could a Labour win at the polls be the final deciding factor?
Read MoreHand it over, says Ed Balls! 5% increase in corporation tax on Labour agenda
Labour Party Shadow Chancellor Ed Balls may increase corporation tax by 5%, whilst Ed Miliband seeks to hit the high earners. LeapRate takes a close look at the potential effect on the business, and at what has gone before
Read MoreICAP may leave the UK if Labour wins General Election
Another brain drain similar to that of the 1970s could occur, potentially damaging London’s highly established institutional trading sector, should the Labour Party win the UK General Election. Michael Spencer, CEO of ICAP is one example, as he would consider moving the company to North America
Read MoreUK General Election: Stock market performs far better under Tories
Bristol-based investment and wealth management firm Hargreaves Lansdowne has produced data showing the effect on the stock market according to which political party is at the helm of the United Kingdom
Read MoreRothschild to pay bonuses early as Labour Party prepares to attack staff remuneration
Labour Party politician Ed Balls is planning to impose a heavy tax on bankers’ bonuses should his party win the UK General Election in 2015. As a result, Rothschild is considering paying the 2014 bonus to its staff early, however if this proposed tax becomes a reality, how many bankers and traders will leave London?
Read MoreGreece’s newly elected socialist ‘spend spend spend’ party admits repayment of debt is unlikely
As the anti-austerity Syriza party enters office in Greece, it becomes ever clearer that the debt which the nation faces will never be repaid, calling into question the future of the eurozone even further, and placing increased doubt over the value of the single currency
Read MoreEU opposes Switzerland and hits Bitcoin, instructs banks to avoid the virtual currency
EU Financial Services Commissioner Michel Barnier believes the potential for money laundering and terrorist financing is too serious to ignore
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