[unable to retrieve full-text content]Scale of cuts required to implement rescue package prompted analysts to raise spectre of another debt crisis later this yearGreeks will suffer austerity measures for another five years as the price of their government securing a €130bn (£109bn) bailout to prevent national bankruptcy and chaos within the eurozone, it has emerged.The scale of the wage and spending cuts required to implement the rescue package prompted an array of analysts to raise the spectre Read more

[unable to retrieve full-text content]Prime minister Lucas Papademos cites 'historic day' but other parties cite €130bn deal as delay tactic that does stop defaultGreeks reacted with relief, anger and fear to the news that their country has been granted what is the biggest bailout in western history – not once, but twice in less than two years.For the prime minister, Lucas Papademos, the €130bn deal was nothing less than a "historic day" with an end to the ferocious negotiations between Athens, Read more

[unable to retrieve full-text content]The main points of the second rescue package for Greece agreed by eurozone finance ministersThe Eurogroup of finance ministers declared that "ensuring debt sustainability and restoring competitiveness" are the goals of the second bailout for Greece. The unspoken aim is to ensure there will be no chaotic default on 20 March, when a €14.4bn (£12.1bn) bond repayment falls due.The package envisages pain on all sides: for Greece, for the private-sector lenders Read more

[unable to retrieve full-text content]CBI director-general John Cridland says unlocking the potential of corporate balance sheets could boost private sector investment and drive economic growthGeorge Osborne should use next month's budget to further coax cash-rich big business into investment mode while at the same time ensuring credit is reaching smaller firms, many of which are struggling, according to Britain's leading employers' lobby group."In the context of constrained government and household Read more

[unable to retrieve full-text content]Bailout not the end of country's troubles. It simply postpones the inevitable: more financial strife and an exit from the euroA stay of execution. The most expensive sticking plaster in the world. A rescue deal with shallow foundations. That was the snap assessment of the markets on Tuesday about the 4am deal struck in Brussels to spare Greece the indignity of going bust and to keep alive the myth that the euro is working.The pundits could be wrong. It is possible Read more