Gea Saarepera

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George Osborne got away with his Big Lie. Brace yourselves for the real cuts

An austerity-led attack on public spending and an obsession with ‘rules’ will not deliver a balanced economy<p>The inquest on Labour’s electoral defeat will run and run, and the recriminations will no doubt persist throughout the party’s inordinately long timetable for selecting a new leader. But …

UK inflation hits zero for the first time on record

Falls in food and fuel prices means consumer prices index - UK’s official inflation measure - has not been so low since comparable records began in 1989<p>Inflation has fallen to zero for the first time on record in Britain, boosting incomes in real terms and handing the chancellor a pre-election …

Inflation falls to 0%: what does it mean for the UK economy?

Deflation is good for pensioners and people with cash in the bank but those losing out include anyone with debts<p>Britain is within a month of a period of deflation. When the figures for March come out next month cheaper energy bills will mean that the cost of living is lower than it was a year …

Europe's economy is recovering, but there's still work to do

Draghi said in a speech at a financial forum in Frankfurt that "most indicators suggest a sustained recovery is taking hold" as consumers and businesses grow more confident and banks become more willing to lend.<p>The head of the chief monetary authority for the shared currency said the upturn was …

Economy

This Simple Fact Can Ruin Your Life for an Entire Decade

Anybody who’s ever lost a job knows it’s a miserable experience, but a new study shows that the aftereffects of being laid off last far longer than …

I was one of the London rioters. In 2011 we didn’t know how to express our anger | Bryn Phillips

Researchers say the riots were linked to inequality and distrust of the police. I know this to be true and now I’m trying to change things for the better<p>It is four years since rioting broke out across the UK. In every city, in those places GK Chesterton called “the faraway towns”, England’s grey …

University of Oxford

UK interest rates mark six-year anniversary at record low

UK interest rates have been on hold at an all-time low of 0.5% for six years after Bank of England policymakers voted for no change at their March meeting.<p>It was at their March 2009 meeting that the Bank’s monetary policy committee decided emergency measures were required to address extreme …

SFO launches investigation into Bank of England liquidity auctions

It is unclear whether the Bank’s employees are suspected of involvement in any attempt to rig the auctions, used as emergency lending during the credit crisis<p>The Bank of England is facing an unprecedented criminal investigation by the Serious Fraud Office over emergency lending measures it took at …

Seven reasons why the FTSE 100 is heading towards a record high

Photograph: Panayiotis Tzamaros/Panayiotis Tzamaros/NurPhoto/Corbis<p>Greek prime minister Alexis Tsipras during the swearing-in ceremony of the new …

Bank of England governor attacks eurozone austerity

The Bank of England governor, Mark Carney, has launched a strong attack on austerity in the eurozone as he warned that he single-currency area was caught in a debt trap that could cost it a second lost decade.<p>Speaking in Dublin, Carney said the eurozone needed to ease its hardline budgetary …

New Oxfam report says half of global wealth held by the 1%

Billionaires and politicians gathering in Switzerland this week will come under pressure to tackle rising inequality after a study found that – on current trends – by next year, 1% of the world’s population will own more wealth than the other 99%.<p>Ahead of this week’s annual meeting of the World …

US airlines eager to return to Cuba but is island nation ready for influx of tourists?

Though tight restrictions on prospective travel have been lifted, it is still unclear when the first scheduled and regular commercial flights will begin<p>If the arc of the moral universe is long, the arc of bureaucracy is reliably longer. But as the repercussions of Obama’s historic agreement to …

Ed Miliband: Cameron’s wage call is desperate bid to hide living cost failure

Ed Miliband has poured scorn on the prime minister’s calls for wage rises by condemning the Tories for waiting until the general election year to address “the worst cost of living crisis in more than a century”.<p>The Labour leader said people would be “choking on their cornflakes” at morning …

David Cameron calls for wage increases in wake of oil price slump

Prime minister says growing profits should result in wage rises, as the Tories look to combat Ed Miliband over cost of living

When the chips are down

IN A brand-new McDonald’s outlet near its headquarters in Oak Brook, Illinois, customers do not have to queue at the counter. They can go to a touch …

Learning to be different

RARELY have the Christmas results for Britain’s supermarkets been awaited with such trepidation. Most of them, especially the market leader, Tesco, …

eCommerce

Britain’s biggest export: wealth

IF A large factory opens in the next six months, it is a safe bet that Britain’s most powerful politicians will be on hand to celebrate the fact. …

A long way from dismal

IN THE world of economics, macroeconomists have had all the kudos. As designers of economy-wide models, they provide the house-price and …

The balance-sheet boom

WITH the excesses of Christmas nearly over, Britons are planning their budgets for the new year. Their decisions will be crucial for the economy. …

Nats, wha hae

“WE’RE supposed to have lost the referendum but look at us now!” yells Sandra White, a Scottish National Party (SNP) politician. Bagehot was already …

Great Britain

print-edition icon

NO ENDORSEMENT carries more weight than an investment by Warren Buffett. He became the world’s second-richest man by buying safe, reliable businesses …

Finance

Crisis revisited

IT WAS almost exactly five years ago that the euro crisis erupted, starting in Greece. Investors who had complacently let all euro-zone countries …

Fiddling while Europe burns

EUROPE is in dire economic straits. Growth in the euro zone is stuck below 1%, unemployment is above 11% and inflation is hovering around 0.4%, far …

Keep beholding the (German) Euroglut

2014-12-10T12:36:15.000Z<p>By: David Keohane<p>If you don’t you might miss all the capital outflow which, according to Deutsche’s George Saravelos, “not …

Euro zone producer prices fall at sharpest rate in a year

BRUSSELS (Reuters) - Euro zone factory prices fell at their sharpest monthly rate in a year in October as the cost of energy and non-durable goods such as food dropped sharply, putting pressure on the European Central Bank to do more to lift the bloc’s depressed economy.<p>A worker fixes a hose on a …

Eurozone banks' corporate lending faces nine-year stagnation

Forecasts from EY predicts that loans to eurozone businesses will not recover pre-crisis peak until 2018<p>The eurozone’s beleaguered companies face a nine-year stagnation until banks lend them as much as they did before crisis enveloped the currency, according to forecasts.<p>Loans to the corporate …

Britain to pay EU extra £100 million a year

Office for Budget Responsibility says Britain will pay £100 million a year more than forecast to EU<p>Britain will pay £100 million a year more to the European budget over the next five years, the independent forecaster has said.<p>The Office for Budget Responsibility said Britain will pay an extra £500 …

Six triggers that could renew a eurozone crisis in 2015

Tensions in the eurozone's largest economies could pull the region apart next year, as a number of political risks could bubble over, according to Nordea<p>The latest instalment of the eurozone crisis could be back on the table as early as next year, as political tensions threaten to boil over.<p>Several …

Cameron's migration demands are 'extortion,' says EU's Brok | DW | 29.11.2014

Brok, the German conservative who heads the European Parliament's foreign affairs committee, told German Deutschlandfunk (DLF) public radio on …

Time for tact

THOUGH less radical than expected, it was a tough speech. On November 28th, David Cameron announced that—if returned to power next year—he would make …