The cost of borrowing in Greece's rescue package is too high and the country still risks falling into a "debt spiral", says George Soros.
SPEAKING in London at The Economist's City Lecture, the financier said the eurozone countries and International Monetary Fund should have offered Greece "concessional rates", reports The Telegraph.
"It is a question of solvency," he explained. "If you start charging very high rates as the market does in anticipation of solvency then that pushes you into insolvency."
The package offers debt-ridden Greece €30bn (£27bn) from eurozone countries at rates of 5% and potentially a further €15bn from the IMF at 2.7%. Read more
A CONSERVATIVE victory would be worse for the UK banking sector than five more years under Labour, according to Credit Suisse analysts, who pointed to the risk of increased taxes and more regulation.
Banking is likely to be the business most directly affected by the result of the election, reports The Telegraph, but contrary to the traditional view the Conservatives are the most pro-City party, Credit Suisse said a Labour victory would be better for the sector. Read more
A US-CHINA trade war over yuan edges closer, reports The Independent.
The Chinese President has snubbed pleas from President Barack Obama for Beijing to revalue the Chinese yuan. It leaves relations between the so-called G2 at a fresh low, and raises fears of a trade war.
Calls from the US Congress to formally label China a currency manipulator will intensify in the wake of the current failed round of talks. Read more
GORDON BROWN has admitted he made a mistake in not introducing tougher bank regulation when he was chancellor, reports the BBC.
The PM, chancellor from 1997 to 2007, said that in the 1990s the banks had all been calling for less regulation.
"And actually the truth is that globally and nationally we should have been regulating them more," he said in an interview on ITV1's Tonight.
He said he should have put the "whole public interest" before the banks but had "learnt" from the experience. Read more
What made financial headlines over the weekend?
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch