Greece to Hold Referendum on European Union Bailout Package Deal
George Papandreou, the Prime Minister of Greece stated that the country will hold a referendum on whether to accept the bailout package from the European Commission
U.K. Economic Recovery May Struggle to Grow, Say Experts
Industry experts believe that Britain's post-recession economic recovery will continue in a subdued manner throughout the remainder of 2011.
Bank of America Drops Debit Card Fee Plan
Bank of America (BofA) has become the latest U.S. financial firm to shelve plans for introducing monthly fees for debit card users.
Bank of England's Jenkins Urges British Lenders to Protect Shareholders
Robert Jenkins, a member of the Bank of England's (BoE) interim Financial Policy Committee, has urged U.K. banks
European Investment Bank to Slash Funds for Small Businesses
The European Investment Bank (EIB), European Union's long-term lending institution, has planned to provide less money for small business loans in the near future.
Rating Agencies to be Supervised by European Union Watchdogs
The rating agencies across Europe are to face direct supervision under the new rules imposed by the European Securities and Markets Authority (EMSA).
Greek Referendum to Hinder International Monetary Fund's Plans of Injecting Aid Fund into Eurozone
Jan Kees De Jager, the Finance Minister of the Netherlands has stated that a Greek referendum on its latest bailout package will hinder the efforts around the next injection of aid funds from the International Monetary Fund.
Financial Services Authority and Office of Fair Trading to Issue Guidelines for Banks on Product Offering
The Financial Services Authority (FSA) and the Office of Fair Trading are to issue new guidelines for British banks in an effort to avoid the problems seen with Payment Protection Insurance (PPI) in future products.
U.S. Federal Reserve Slashes Country's Growth Forecasts
The U.S. Federal Reserve has significantly reduced their forecast for economic growth over the next two years, while raising the projections for unemployment.
U.S. Economy Requires another Round of Quantitative Easing: Ben Bernanke
Ben Bernanke, the Chairman of the Federal Reserve suggested that another round of quantitative easing may be needed in the near future to restore the ailing the U.S. economy.