Economics / Markets

FIVE THINGS

Furious Greek citizens have attacked Christine Lagarde, head of the International Monetary Fund (IMF), after she accused some of "trying to escape tax."

Uncertainty in the eurozone will remain "for the next few years" and continue to act as a drag on the UK economy, Bank of England (BoE) policymaker Spencer Dale has been quoted as saying.

CONDENSED

Citigroup's top economist Michael Saunders has forecast Greece will exit Europe's single currency on 1 January 2013, and its new currency will immediately depreciate by 60%.

The worse-than-expected decline in UK GDP is likely to spur the Bank of England into injecting another £50bn into the economy next month, said Henderson's Simon Ward.

The decline in UK GDP growth in the first quarter of 2012 was today revealed to be worse than expected, after the Office for National Statistics reported a worse than feared fall of 0.3%.

The notion of free banking is a "myth" that may ultimately encourage the mis-selling of financial products, Bank of England executive director Andrew Bailey has said.

German Chancellor Angela Merkel and other senior European Union (EU) officials last night called on Greece to shelve plans to quit the single currency and urged it to see out its austerity programme.

Massachusetts Secretary of Commonwealth William Galvin has reportedly issued Morgan Stanley with a subpoena as part of an investigation into Facebook's IPO, while two investors are taking legal action against Facebook, Nasdaq and Morgan Stanley following...