Tuesday, 19 May 2015

It's Official - Britain Is in Deflation

THE DAILY TELEGRAPH: The UK has tipped into deflation - with overall prices for goods and services falling - for first time since records began

Britain has tipped into deflation for the first time in more than half a century.

Prices, as measured by the consumer prices index (CPI), fell by 0.1pc in the year to April, following zero inflation in February and March.

This is the first time Britain has fallen into deflation since official records began in 1996. Modelled data produced by the Office for National Statistics (ONS) suggest it is also the lowest rate since 1960. Read on and comment » | Szu Ping Chan | Tuesday, May 19, 2015

Wednesday, 6 May 2015

'Anglo-Saxons' Would Rip Europe Apart after a Grexit, Says Juncker

Juncker: "We should make sure that everyone understands
that the economic and monetary union is irreversible"
THE DAILY TELEGRAPH: Commission president says Grexit exposes the euro to huge danger as capitalist forces would try to dismantle the EU "piece by piece"

The president of the European Commission has risked angering Britain after comments warning that the "Anglo-Saxon world" would seek to dismantle the European project if Greece was ever allowed to leave the single currency.

Speaking to an audience at the Catholic University of Leuven in Belgium, Jean-Claude Juncker said a "Grexit" would leave the euro prey to forces who "would do everything to try to decompose" what remained of the monetary union.

“Grexit is not an option," said Mr Juncker.

"If we were to accept, if Greece were to accept, if others were to accept that Greece could leave the area of solidarity and prosperity that is the eurozone, we would put ourselves at risk because some, notably in the Anglo Saxon world, would try everything to deconstruct the euro area piece by piece, little by little."

A spokeswoman for Mr Juncker said the reference to the Anglo-Saxon world could be "understood in the sense of the markets and speculators," rather than a reference to Britain specifically. » | Mehreen Khan | Tuesday, May 05, 2015