News Headlines - 16 May 2012

▽Greece to hold new election on 17 June - BBC
Greece will hold fresh elections on 17 June and a judge has been appointed to head an interim government.
Council of State president Panagiotis Pikramenos will head the caretaker government until the election.

▽Greece euro exit fears hit market - The Press Association
Investors fear a win in the next election by parties that oppose austerity measures will see Greece denied further EU bailout money, triggering a default on its debt and its exit from the single currency.

▽Greek Banks See Deposit Withdrawals - Wall Street Journal
Greek depositors withdrew EUR700 million from local banks on Monday, the country's president said, and warned that the situation facing Greece's lenders was very difficult.

▽Fluent German speaker tipped to become French PM - Telegraph.co.uk
Jean-Marc Ayrault, who is heavily tipped to be named France’s prime minister, is a veteran parliament leader whose familiarity with Germany and deal-making skills may prove invaluable as his Socialist government seeks to challenge Berlin's focus on austerity.

▽BoE cuts economic growth forecast - Financial Times
The Bank of England has reduced its forecast for UK economic growth and increased its inflation forecast, predicting inflation will remain above its 2 per cent target for another year.







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