Magazine article The Spectator

Abroad

Magazine article The Spectator

Abroad

Article excerpt

Greece prepared for new elections in June after the president found that no party leader could form a government.

Markets fell at the prospect of Greece leaving the eurozone. Spain and Italy found the cost of borrowing higher than at any time this year. Moody's cut the credit ratings of ten Italian banks to junk status.

Protestors from the Indignados movement sat down in the Puerta del Sol in Madrid.

President Francois Hollande of France, on his way to talks with Chancellor Angela Merkel of Germany, turned back to Paris after his plane was struck by lightning, but immediately found another one to fly to Berlin. Mrs Merkel's Christian Democratic Union suffered its worst post-war showing in elections in North Rhine-Westphalia, Germany's most populous state.

JP Morgan announced a $2 billion trading loss; Ina Drew resigned as its chief investment officer. Scott Thompson resigned as chief executive of Yahoo after objections to a computer science degree on his curriculum vitae which he had never attained. …

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