I thought that spending a week in Singapore might provide some respite from the euro-crisis which, as Paul Krugman wrote the other day, is now simultaneously boring and terrifying. But there is no getting away from it. Even the staid Straits Times, the local paper here, led on the euro yesterday. And at a dinner I went to last night – mixing Asians and Europeans, financiers and policymakers – the talk was mainly of Greece, Germany and the single currency. Read more
It is a testament to the sorry condition of Saudi women that any step towards empowerment, however small or marginal, is greeted with joy. Women reacted warmly to King Abdallah’s pledge to include them on the advisory shoura council and allow them to vote and stand in municipal elections. Read more
Welcome to the second day of our rolling coverage of the eurozone crisis. All times are London time. Curated by Esther Bintliff and John Aglionby on the world news desk in London, with contributions from FT correspondents around the world.
20.00: We’re wrapping up the blog for today but we’ll be back bright and early tomorrow. In the meantime, you can follow the rest of our coverage at ft.com/world
19.52: BREAKING The FT’s Peter Spiegel and Quentin Peel report that a split has opened in the eurozone over the terms of Greece’s second €109bn bail-out with as many as seven of the bloc’s 17 members arguing for private creditors to swallow a bigger write-down on their Greek bond holdings, according to senior European officials.
The divisions have emerged amid mounting concerns that Athens’ funding needs are much bigger than estimated just two months ago. They threaten to unpick a painfully negotiated deal reached with private sector bond holders in July.
Full story here. Read more
By Gideon Rachman
The world could do with some glad tidings at the moment, to cope with a global economic crisis and turmoil in the Middle East. Unfortunately, the return of Vladimir Putin to the Kremlin does not qualify as good news.