In other news…
The ongoing financial crisis – which has been somewhat overshadowed by the riots – has hit France. President Nicolas Sarkozy has given his finance and budget ministers a week to devise measures to cut the country’s budget deficit, demanding ‘immediate action’ on the crisis. At one point, credit ratings dropped by 23% but closed at a 15% loss.
Italy has also faced problems with a 14% drop in credit ratings. This has led to fears that Britain could be next to face the Eurozone’s financial downturn – particularly with the recent riots causing millions of pounds in damage. Labour MP Ed Balls says the economic crises are “an equal and perhaps graver threat” to UK than the riots. Chancellor of the Exchequer, George Osborne, says that this is “the most dangerous time for the global economy since 2008” and says we must be “realistic” about difficulties. He also claims that events round the world “completely vindicate” the Coalition’s controversial deficit reduction plans – Eurozone countries must face the “remorseless logic” of the monetary union leading to political integration. However, for now we remain stable and clean up efforts are continuing.
The phone hacking scandal which gripped the nation a few weeks ago has seen a new turn of events in the arrest of former News of the World news editor, Greg Miskiw. Scotland Yard have said the 61-year-old was kept in police custody having attended the station by appointment at midday yesterday.
The bodies of a man and a woman in their 20s have been found at a house in Harlington. The pair are as yet unidentified and for now the deaths are ‘unexplained’.
Eight people facing allegations of looting shops in two of the areas worst affected by Monday night’s riots appeared at Uxbridge Magistrates’ Court yesterday.
Other reports say that Amy Winehouse’s house has had personal belongings stolen from it. The late singer’s father, Mitch Winehouse, said that copies of his daughter’s unreleased tracks, lyric books and some personal letters have all vanished.