Slashed housing benefits, a further reduction in the state’s welfare cap and cuts to in-work tax credits are on the table as Chancellor George Osborne prepares to fillet Britain’s welfare state in his so-called “emergency budget” next week.
Today we still use an industrial age monetary construct while we have technologies to do things differently. Greece could create a precedent with a different way of addressing economic problems, says one of the architects of the euro, Bernard Lietaer.
Britain’s Royal Air Force (RAF) may lack the warplanes to extend combat operations into Syria, even if Prime Minister David Cameron was to force and win a vote to do so in the wake of the Tunisia massacre, according to a military aviation expert.
Greece’s finance minister Yanis Varoufakis promises to keep Greece in the euro and avoid a banking collapse if the country votes against the rescue package proposed by the Eurozone. EU leaders say a No vote might force the country out of the currency.
The latest polls and betting suggest Greece will back the cash-for-reform deal proposed by creditors in the July 5 referendum. They point to a mood shift since Athens closed banks and limited cash withdrawals.
Major US airlines are being investigated by the Justice Department for “possible unlawful coordination” in ticket pricing. The probe comes as airlines are benefiting from low jet fuel prices, and more people flying than ever before.
Mass protests greeted a new Spanish public security law that would make it harder for public to rally. Nicknamed the ‘gag law’, the new legislation puts restrictions on journalists reporting on police.
Even if Greece accepted all of the austerity measures demanded by its main creditors, the Troika, it still would not be able to make ends meet by 2030, according to IMF estimates revealed in a set of documents obtained by a German newspaper.
A British shoe shop worker launched a crowdfunding campaign to help Greece pay back its $1.8 billion IMF loan. The host website's servers crashed from the traffic as donations from across Europe approached the €1 million mark.