finances

Ministers are set to be told this autumn that a £12 billion ($18.8 billion) black hole has opened in the public finances, in a forecast that threatens to derail the coalition’s deficit reduction strategy and prolong austerity well into the next parliament, reported the FT. more...

S&P cut its rating on Greece's sovereign debt by three notches. Insight on how this will affect the rest of Europe, with Michael Noonan, finance minister of Ireland. more...