Osborne sounds alarm over Greek crisis as EC gives May deadline- live updates


UK chancellor has warned that one misstep in the Greek debt negotiations could return Europe to the ‘perilous state’ of 2011 and 2012Osborne: Mood at IMF is ‘notably’ more gloomyEC: Greece must deliver by May 11Schauble: No deal soonEuropean stock markets fallingCity hit by Bloomberg outage 5.02pm BST After a day of heavy selling, European stock markets have all closed deep in the red tonight.The German DAX, Spanish IBEX and Italian FTSE MIB all tumbled more than 2%, as fears over Greece Read more [...]

George Osborne under pressure to speed up Royal Bank of Scotland split


MPs voice concerns that chancellor will row back on plan to break up RBS to avoid disrupting the bank's recoveryAn influential group of MPs has stepped up its drive to have Royal Bank of Scotland split up, amid concerns that Whitehall officials could back away from the proposal.Members of the parliamentary commission on banking standards have demanded that plans go ahead to split the operations of the troubled institution, which is 81% owned by the taxpayer, into a so-called good bank and bad bank, Read more [...]