John Aglionby

Here are some of the articles that have grabbed our attention from today’s FT and elsewhere:

 

John Aglionby

Welcome to our rolling coverage of the reaction to elections in France and Greece on a big day for Europe.

By Tom Burgis, John Aglionby and Esther Bintliff in London with contributions from FT correspondents around the world. All times are London time.

This post should update automatically every few minutes, although it might take longer on mobile devices.

16.52 That’s the lot of the live blog today. See FT.com for more news and analysis through the night.

We’ll leave you with a quick summary and some reading. Today:

  • Markets reacted warily at first to the French and Greece results, although equities and bonds recovered through the day. The euro stayed weaker though
  • Angela Merkel promised François Hollande a warm welcome in Berlin but said the eurozone’s fiscal pact was not up for re-negotiation. She also urged Greece to stick to the cuts programme agreed with lenders
  • Greece’s political leaders wrangled over a possible coalition government after voters administered a thumping to the two biggest parties, leading to predictions of a fresh election and a potential move to tinker with the terms of the country’s €174bn bail-out
  • Spain reversed course and said it plans to pump public cash into troubled lender Bankia
  • Leftists from Dublin to Stockholm hailed the victory of a Socialist in France, with many seeking to use Hollande’s triumph to push for more pro-growth policies to temper European austerity

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John Aglionby

Photo: Getty

The FT’s Westminster Blog ran live coverage of James Murdoch’s appearance at the Leveson inquiry in media standards and journalistic ethics. Read more

John Aglionby

 

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John Aglionby

Will EU leaders make strides towards recovery?(Photo AP)

Welcome back to the FT’s rolling coverage of the eurozone crisis. By John Aglionby and Tom Burgis in London and Anjli Raval in New York, with contributions from correspondents around the world. All times are GMT.

Today’s main event is the European Union leaders’ summit in Brussels, where growth and Greece’s debt are expected to top the agenda. We expect more movement towards a fiscal discipline pact, too.

Also today Portuguese bond yields have soared, an Italian bond sale went satisfactorily and widening eurozone spreads over German debt suggest unease is setting in anew.

00.22 Talks ground to a halt in Brussels as European leaders left for the night without reaching an agreement on how to plug Greece’s widening budget deficit. While the bargaining with Greece over a debt writedown and its economic management will continue for yet another day, we are going to close down the blog for the evening. Here is our updated EU summit story on today’s agreed fiscal discipline treaty. Read more

John Aglionby

William Hague travels this week to Brazil; the UK foreign secretary wants to curry favour and, more importantly, greater trade with Latin America’s rising powers. “Britain is coming back,” he says. “We are turning around decades of British withdrawal in Latin America.”

What a shame, then, that next door in Argentina much of British diplomacy has literally slipped back into the semaphore age – at least when it comes to the Falklands/Malvinas issue. Read more

John Aglionby

In his second video on the US 2012 presidential election campaign, FT columnist Edward Luce considers whether anything or anyone can stop Mitt Romney from winning the Republican party presidential nomination after his wins in Iowa and New Hampshire.

John Aglionby

In the first of a series of weekly videos, Edward Luce, the FT’s US columnist, discusses the race for the Republican party’s presidential nominee with Norm Ornstein of the American Enterprise Institute and Bill Galston of the Brookings Institution.

John Aglionby

The Financial Times has decided to change its style and from today will use the name Myanmar rather than Burma.

Is this premature, too late or just wrong? Please send us your comments or tweets at @ftworldnews

The reasons for the change are explained in the following editorial, which appeared in today’s newspaper: Read more

John Aglionby

A screen in Hong Kong displaying the Hang Seng index's turbulent day today. Image AP

Welcome back to the FT’s coverage of the eurozone crisis and its global fallout. Curated by John Aglionby, Tom Burgis and Orla Ryan on the news desk in London and with contributions from correspondents around the world. All times are GMT.

Market reaction to events in Italy shows that the crisis is now truly global. Markets are looking for more clarity from Rome on timings, particularly of the austerity vote. Meanwhile the Greek establishment has finally settled on a new prime minister.

18.53 That’s the end of our live coverage today. See FT.com through the night for all the latest news and analysis.

18.45 Our reporting team in Italy has produced a profile of Mario Monti, frontrunner to be the next Italian prime minister:

Mario Monti

Former European Commissioner Mario Monti at a news conference in Strasbourg in 2001 (Reuters)

Romans are already talking of the beneficial “Mario Monti impact” on Italy’s debt mountain – even before his appointment as prime minister is in the bag.

The spread between Italian and German 10-year bonds has fallen some 50 basis points since peaking at 576 on Wednesday, partly attributed to the prospect of the respected economist and former European commissioner taking over from Silvio Berlusconi to head a caretaker government.

 

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