Greek deal poisons Europe as backlash mounts against 'neo-colonial servitude'
'It is now perfectly clear to a lot of people that the only way out of neo-colonial servitude is to break free of monetary union,' said one Syriza rebel.
Greek premier Alexis Tsipras faced a furious backlash from his own Syriza party on Monday night after yielding to draconian demands from Europe’s creditor powers, and agreeing to let foreign supervisors take control of his country.
The bitter climb-down clears the way towards an €86bn rescue package and the renewal of emergency liquidity for the Greek banking system, once Greece’s parliament has voted for pension cuts, tax rises and a raft of other measures by Wednesday. This is the first of a series of deadlines as the country is kept on a tight leash.
Supermarkets could increase prices to pay for living wage
Moody's warns that Chancellor's living wage could force retailers to increase prices and reduce staff benefits
The Government’s new national living wage is likely to result in higher prices for shoppers, Moody’s has warned.
The minimum wage for over-25s is to rise from £6.50 per hour at present to £7.20 in 2017 and £9 by 2020 under proposals announced by George Osborne in the Budget.
This increase in basic pay is “credit negative” for retailers, restaurants, hotels and leisure companies because of the cost of increasing pay for the hundreds of thousands of workers they employ, according to an analysis by credit rating agency Moody’s.
Mark Carney to be grilled by MPs over how Greek crisis has hit UK
Bank of England governor expected to face questions on Greek bail-out agreement, inflation and the housing market
Bank of England governor Mark Carney is due to appear before MPs on Tuesday - a day after Greece reached a last-ditch bailout agreement with European creditors.
Mr Carney said earlier this month that the outlook for UK financial stability had worsened as the crisis facing debt-laden Greece deepened.
The Daily Mail
Euro tumbles against pound and dollar despite last-ditch deal to save Greece from bankruptcy and expulsion from single currency bloc
The euro tumbled against the pound and the dollar yesterday despite a last-ditch deal to save Greece from bankruptcy and expulsion from the single currency bloc.
Eurozone leaders agreed an €86bn (£61bn) bailout for the stricken nation – its third in five years – after marathon talks in Brussels over the weekend.
Demand for mortgages is rising 'significantly' as rates fall to record lows, says Bank of England
Lenders have reported higher demand for mortgages as rates continue to fall to record lows, Bank of England figures reveal.
Demand has 'increased significantly' in the three months to May according to lenders, having fallen sharply in the previous three quarters, according to its latest credit conditions survey.
Alexis Tsipras aims to steer Eurozone bailout plan through Greek parliament
Prime minister faces tough task to keep his Syriza party united, as former finance minister Yanis Varoufakis likens bailout proposal to 1919 Versailles treaty
Alexis Tsipras was on course on Monday night to sway radical-leftist Syriza MPs to accept the most draconian rescue of a sovereign nation since the second world war, after the Greek prime minister accepted a third bailout programme that one analyst said came after a weekend of “gunboat diplomacy”.
David Cameron to force companies to disclose gender pay gaps
Prime minister to bring forward rules to make firms with more than 250 workers reveal whether they pay men more than women
Large companies will finally be forced to disclose whether they are paying men more than women from next year, David Cameron will say on Tuesday.
In a move that has long been resisted by businesses and parts of the Conservative party, the prime minister will bring forward rules by the first half of next year to make companies with more than 250 workers disclose the pay gap in their workplaces.