Rolling economic and financial news, including the ECB’s monthly meeting in CyprusIntroduction: ECB and Bank of England meetingPhotos: Anti-austerity protests 8.01am GMT Cyprus’s finance minister has defended the country’s austerity programme, in an interview with Bloomberg TV:#Cyrpus finance minister Georgiades tells @FerroTV: Our reform and consolidation plan is delivering.#Cyprus finance minister Georgiades tells @FerroTV:We look fwrd to participating fully in the #ECB #QE program which will start now. 7.51am GMT Today’s European Central Bank meeting in Nicosia marks the two-year anniversary of Cyprus’s bailout deal.Some 18 groups organized the event, including left-wing trade unions, teacher and family groups, as well as student organizations.Some protesters carried banners reading, “End to austerity, we want jobs,” and “Save the people, not profits and banks.” 7.43am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. The Bank of England is facing an unprecedented criminal investigation by the Serious Fraud Office over emergency lending measures it took at the height of the credit crisis to inject cash into financial markets.In late 2007 and early 2008, as the authorities struggled to prevent financial markets from freezing up, banks were invited to bid to borrow funds from the Bank of England, in exchange for collateral, in a series of so-called “auctions”.“There are no preparations for a third credit package and the country does not need it.”Varoufakis: Greece does NOT need a third bailout - http://t.co/zeQ23R1nZb pic.twitter.com/hiPeq9PAvS Continue reading...
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