EU members consider selling residency to attract wealthy Chinese

Financially troubled EU countries are reaching out to wealthy foreigners – particularly from China – to offer residency in return for investment UPDATED : Thursday, 06 February, 2014, 3:28am Benjamin Robertson and Patrick Boehler Illustration: Sarene Chan Jason Wu of Shanghai says he loves Portugal’s scenery and climate. He admires Europe’s education system. He’s so…

Wealth tax to pay for EU bailouts

Monday, 15 April 2013 Wealthy households would face new taxes on property and other assets under German plans to prop up the struggling eurozone. Senior advisers to Chancellor Angela Merkel are pushing for better-off households to pay towards the cost of any future bail-outs for the weaker members of the single currency. The proposals, from…

EMU plot curdles as creditors seize Cyprus gold reserves

By Ambrose Evans-Pritchard Economics Last updated:  April 11th, 2013   Cyprus has agreed to sell gold reserves to raise around €400m. (Photo: Alamy) First they purloin the savings and bank deposits in Laiki and the Bank of Cyprus, including the working funds of the University of Cyprus, and thousands of small firms hanging on by…

Eurozone faces new challenge as Portugal blocks cuts

The eurozone crisis threatens to flare up again this week after Portugal’s constitutional court blocked the country’s planned austerity programme. Portugal’s Prime Minister Pedro Passos Coelho addresses the nation from his official residence at Sao Bento palace in Lisbon on Sunday. Photo: EPA   By Philip Aldrick, Economics editor 7:26PM BST 07 Apr 2013 The single…

Hundreds of thousands march against austerity in Portugal

02    Mar  2013 LISBON (AFP) Hundreds of thousands of people took to the streets of Lisbon and other Portuguese cities Saturday to protest against the government’s austerity measures aimed at rescuing the debt-hit eurozone nation. The rallies were organised by a non-political movement which claimed 500,000 marched in the country’s capital and another 400,000 in the…

Misery for thousands of British air passengers as anti-austerity strikes hit Europe and angry clashes break out in Oxford Street

Around 800  flights to and from Portugal and Spain cancelled Walkouts and protests  planned across Spain, Greece, Portugal and Italy London protests planned  to coincide with European walkouts Unions fighting  cuts demand an end to ‘unbearable’ austerity measures British air passengers  grounded with dozens of flights cancelled Eurostar passengers being  urged not to travel on…

Euroland’s debt strategy is an economic and moral disgrace

The International Monetary Fund has demolished the intellectual foundations of Europe’s debt crisis strategy. A demonstration against austerity measures near the Spanish Parliament. Photo: AP   By Ambrose Evans-Pritchard 4:52PM BST 14 Oct 2012 Drastic fiscal tightening in a string of interlinked countries does two to three times more damage than assumed, especially if there…