View more on these topics

Greek PM Tsipras quits and calls early election


Greece’s prime minister Alexis Tsipras has announced his resignation and called an early election following the country’s latest bailout agreement with European creditors.

Earlier this month the Greek parliament that would see the country secure a further €85bn (£61bn) in funding.

In order to receive the money over three years, more products and services in Greece will be subject to the top VAT rate of 23 per cent, with corporation tax increased to 28 per cent.

According to the BBC, Greece received the first €13bn £9.3bn) instalment of the bailout on Thursday after it was approved by relevant European parliaments.

It allowed Greece to repay a €3.2bn debt to the European Central Bank, avoiding a potential default.

In a televised address yesterday evening, Tsipras said: “The political mandate of the 25 January elections has exhausted its limits and now the Greek people have to have their say.

“I want to be honest with you. We did not achieve the agreement we expected before the January elections.”

A date for the election has not been confirmed, although reports suggest it could be held as soon as 20 September.



Ex-IFA jailed over £350k theft from elderly clients

A former financial adviser has been sentenced to six years in prison after a court found him guilty of stealing over £350,000 from four elderly and vulnerable people. Peter Bottomley, from Morecambe, was an authorised independent adviser until 2003. But after his authorisation ceased he continued to manage the finances of some elderly people, often […]


Nutmeg attempts to lure ‘dumped’ Brewin clients

Online discretionary fund manager Nutmeg is offering chocolates and three months of free service to clients of rival Brewin Dolphin after it scrapped its wealth management service for 2,000 investors. The Financial Times reports Brewin has removed its bespoke wealth management offering for smaller investors as it reviews its minimum investment levels. Last month Brewin […]

Investec launches pension freedoms structured product

Investec has launched a structured product specifically aimed at the pension freedoms market as an alternative to an annuity. The FTSE100 Retirement Deposit Plan 1 offers guaranteed income payments, with capital repayment at the end of the term depending on FTSE growth. The six-year term has two income options of 5.25 per cent or 4 […]


Wealth manager acquires £1bn Sipp firms

Wealth management and professional services firm Wilton Group has acquired a Sipp provider and Sipp admin firm with a total of over £1bn in assets under management for an undisclosed sum. The two firms that have been acquired are Hartley SAS and The Lifetime Sipp Company. Both are based in Bristol, and under the terms […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment