FINANCIAL TIMES
NEW DEMOCRACY EKES OUT WIN IN GREECE
By Tony Barber and Kerin Hope in Athens
Greece’s centre-right New Democracy party scrapped its way to victory over Syriza on Sunday in an election pivotal to the future of the euro. European governments are sure to be relieved that a party dedicated to overturning the terms of Greece’s financial rescue appeared to have fallen short of victory. But their relief will be tempered by an awareness that even New Democracy are determined to secure some easing of the austerity measures.
DAILY TELEGRAPH
EXCLUSIVE: SECRET EU SUMMIT DOCUMENT SHOWS FIRST STEP TO BANKING UNION
By Bruno Waterfield
A classified draft of next week’s EU summit conclusions is the first step on an emerging “roadmap” to a banking union, pooling debt via eurobonds and political union via EU treaty change over the next 10 years. Also important and controversial is the “other financial stability measures” paper, including financial transition tax proposal and moves towards a banking union.
DAILY MAIL
MARKET VOLATILITY 'TO REMAIN HIGH' AFTER GREEK ELECTION
By Geoff Foster
Whatever the result, market uncertainty and extreme volatility will remain high for some time, with no single party winning an absolute majority. The start of trading on Monday will be all about Greece, but traders still have other major areas of concerns within the fragile eurozone.
IN OTHER NEWS
GUARDIAN
ARMS AND OIL BOSSES REFUSE TO ATTEND CORPORATE RESPONSIBILITY INQUIRY
By Rupert Neate
The bosses of some of Britain's biggest arms and oil companies have refused to attend a parliamentary inquiry into the use of hundreds of millions of pounds of taxpayers' money to help dictators build arsenals and allow human rights abuses. The businessmen, including Ian King, chief executive of BAE Systems, had been invited to an investigation into the government’s underwriting of loans, including £35m to Robert Mugabe's Zimbabwe to buy five Hawk fighter jets.
CITY AM
LONDON BUCKS THE GLOOM AS FIRMS EXPAND
By Tim Wallace
Strong sales growth and rising profits have boosted business confidence in London, a new study shows today. Average turnover rose 4.5 per cent and profits by 5.2 per cent, pushing the ICAEW/Grant Thornton confidence index to 13.3, a 26.5 point jump on the quarter.
DAILY EXPRESS
NEW PENSION PAIN FOR MILLIONS
By Sarah Westcott
Millions of Britons could be plunged into poverty for the rest of their lives by a pensions shake-up. Meddling by Brussels is set to hit Britain’s pensioners after a report found new rules could slash annuities by up to 20 per cent. The value of the policies that workers buy with their pension pots has already slumped to historic lows.
THE SCOTSMAN
LACK OF BANK LENDING STILL HAMPERING SMALL BUSINESSES IN THE UK
By Dominic Jeff
Small businesses are facing a new credit crunch that is denting confidence and restricting growth even as the UK government launches an £80 billion scheme to boost lending. The Federation of Small Businesses said banks are rejecting more than four in ten firms that seek financing, hampering the economic recovery.
WWW.BBC.CO.UK
ASIA MARKETS UP AS GREECE VOTERS BACK PRO-BAILOUT PARTY
Asian markets have rallied after support for pro-bailout parties in Greece's elections on Sunday. New Democracy, which came top, has backed the two bailouts of Greece by the European Union and International Monetary Fund.
