Nazanin Zaghari-Ratcliffe's statement in full as she meets press for the first time since return

Nazanin Zaghari-Ratcliffe: ex-Tory MP urges inquiry into why Iran debt went unpaid

The UK government has known for many years that if it paid a £400m debt to Iran it was likely to lead to the release of Nazanin Zaghari-Ratcliffe, the former Foreign Office minister Alistair Burt has said in a letter to the foreign affairs select committee.

Burt, a Tory MP until 2019, is calling for the committee to launch an inquiry into why the debt was not paid and into who – either in the governments of the UK or the US – resisted making the payment.

Can countries pay back pandemic debt?

As G7 leaders meet to discuss global economic recovery from the coronavirus pandemic, business reporter Lora Jones takes a look at who governments have borrowed staggering amounts of cash from and how - if ever - they plan to repay that debt.

 

Is this the end of the Middle East's oil rush?

Crude oil exporters are struggling to balance budgets with low oil prices. Plus, South Africa could face a debt crisis.

 Oil revenues in the Middle East and North Africa fell from more than $1 trillion in 2012 to $575bn in 2019, according to the International Monetary Fund.

The pandemic has meant demand for fossil fuels has been decimated and may not return. Have oil-exporting countries done enough to diversify their economies?

Coronavirus and the economy: Can the world cope with more debt?

As stocks soar to record highs and inequality deepens during the pandemic, is it time to finally confront capitalism?

With more than 22 million coronavirus cases and almost 800,000 deaths worldwide, the health crisis is far from over, as countries face second waves of coronavirus cases.

We may have seen some of the worst economic costs, but more pain could be lurking in the months ahead.

Against this backdrop, the United States and China have potentially also inched closer to a new Cold War.

Why China Will be the Big Winner of the 2020 Crisis

This is China, what is still the worlds foremost industrial economy has apparently been knocked down a peg as it emerged into the new decade. There has been wild speculation about companies divesting from the country as a response to the critical flaws in supply chains that have been brought to light. The world today is heavily reliant on China to manufacture almost everything we take for granted in our modern lives.

Who actually pays for your credit card rewards?

Shoppers love credit card rewards. Banks promise offers of cash back, bonus miles, and cash bonuses to get you to sign up and spend. In 2018, 92% of all credit card spending was made on a rewards card. Some people, like Brian Kelly, a.k.a "The Points Guy," have even made a career our of maximizing these rewards. But who ends up actually paying for all these rewards? (Hint: it’s probably you.)

The problem with video gambling machines

Nearly a decade ago, Illinois lawmakers legalized video gambling. They hoped that the machines, which offered up electronic versions of games like slots or poker, would generate billions of dollars of revenue for the state. So they passed a bill quickly, with little debate, to expand the industry dramatically. Illinois now has more than 30,000 of these machines, and more locations to legally place a bet than Nevada. A ProPublica Illinois investigation has found that the expansion of video gambling hasn’t pulled Illinois out of debt — it’s actually accelerated it. While people in Illinois have gambled a lot more on machines that can be highly addictive, most of the additional money has ended up in the hands of a small group of companies behind video gambling.

Greece Gets Screwed By EU (Germany)

After Greece held a referendum on the last bailout package presented by the E.U. which delivered a resounding no to getting completely screwed by the Troika.    Germany (Angela Merkel) decided that Greece should be punished for their intransigence.  You know: Not wanting the unemployment rate to rise above the current 25% for the overall working population and above 50% for those under 25, didn't feel the need for a depression, a collapse of the Greek government and selling off all its public holdings. Like water, electricity, health care  and the harbours and airports.

Germany's hardline stance is an all out effort to cause a change of government in Athens.  A coup.

After a marathon 15 hours of talks the Belgium prime minister tweeted the word: "Agreement"

 Here are the latest updates:

• Belgium Prime Minister tweets 'agreement' after mammoth, all-night summit
   
• European Commissioner promises 'there is a way out'... but economists say Grexit likely
   
•  Athens blinks first as Alexis Tsipras promises to 'immediately implement' reforms
   
• Will Greek troubles spill over to the rest of Europe and UK?
   
• The Greece debt crisis explained in less than 100 words
   
• Will Greek troubles spill over to the rest of Europe and UK?
   
• Greece travel advice Q&A: Tourists urged to bring cash not cards on holiday
   
• What are capital controls and how do they work?

Joseph Cotterill, an FT correspondent, has a good graph showing the amount of money the IMF thinks it can raise from privatisation now, in blue, and in the past. 

 

Joseph Cotterill

@jsphctrl

How past (IMF) predictions for Greek privatisation proceeds turned out. (From the latest DSA) http://t.co/R11AdWbsgp