All posts by Moderator

Varoufakis refuses any bailout plan that would send Greece into ‘death spiral’

Finance minister continues war of words with eurozone policymakers, saying he wished Greece still had the drachma and had not entered monetary union

Greece’s embattled finance minister, Yanis Varoufakis, stepped up his war of words with eurozone policymakers on Thursday, saying he wished his country still had the drachma, and would not sign up to any bailout plan that would send his country into a “death spiral”.

With Greece facing a severe cash crisis as it struggles to secure a rescue deal from its creditors, Varoufakis – who has been officially sidelined from the debt negotiations – told a conference in Athens that he would reject any agreement in which “the numbers do not add up”.

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Jim O’Neill gains peerage and ministerial role in Treasury team

The former Goldman Sachs economist, who becomes George Osborne’s commercial secretary, will be made a Conservative life peer

Jim O’Neill, the former Goldman Sachs chief economist who coined the phrase “Brics”, has been handed a Conservative peerage and a ministerial appointment in George Osborne’s new Treasury team.

Speaking in Manchester as he launched the latest phase of his “Northern Powerhouse” initiative, the chancellor said that O’Neill, who will be made a Conservative life peer, would be given special responsibility for driving forward devolution to cities outside London under the title of commercial secretary.

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Thomas Piketty to investigate inequality in new role at LSE

The author of Capital in the Twenty-First Century has been appointed centennial professor at a new institute looking into global inequality

The bestselling French economist Thomas Piketty is to join a new institute investigating global inequality set up by the London School of Economics.

The LSE has announced that the author of Capital in the Twenty-First Century, last year’s publishing sensation in the social sciences, has been appointed centennial professor at its International Inequalities Institute (III).

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