George Hay coordinates European financial coverage and writes about macroeconomics, the euro zone and UK/European financial policy. He covered European banks for Breakingviews during the financial crisis, and has also worked as a correspondent for AFX News and at United Business Media. He attended Edinburgh University and his work has been recognised at the UK’s Business Journalist of the Year Awards. Follow George on Twitter @gfhay
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The frontrunner to lead the UK’s Labour Party looks at first like a hopeless throwback. May’s UK election implies he won’t be prime minister. But some of his themes – focused QE, or selective public ownership of natural monopolies – are worth debating, and not just in Britain.
Savers have rightly feared their deposits may get turned into equity. Draft proposals for Athens’ new bailout imply this may be unnecessary. It probably isn’t enough to entice private investors, but boosting depositor confidence is an important step in clearing up Greece’s mess.
The Dutch insurer’s shares slumped after it adjusted down its estimated capital ratio under new Solvency II rules. Before the new metrics go live next year, more insurers could unearth nasty surprises. Even after, capital positions are set to be more volatile.
- UK death-insurance merger makes future less morbid
- Zurich can justify a swoop on RSA
- Timing looks right for RBS state selldown
- Numbers add up to HSBC leaving London
- Credit Suisse clears path to Thiam’s shake-up
- Barclays faces awkward Qatari settlement dilemma
- Agnellis nudging PartnerRe out of rival's reach