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Bank of England Governor King poses with Britain's Chancellor of the Exchequer Osborne at the Lord Mayor's Dinner to the Bankers and Merchants of the City of London

UK Chancellor Osborne defends beleaguered BoE chief

U.K. Chancellor of the Exchequer George Osborne is defending the beleaguered Bank of England (BoE) governor Mervyn King, who has come under fire in recent weeks for allegedly having a lack of political neutrality.
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UK fiscal watchdog cuts growth, borrowing outlook

Britain's newly created budget watchdog downgraded economic growth forecasts on Monday but did not radically alter the scale of austerity measures required from the country's coalition government.
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EU to fend off market wolves in Greek crisis

European Union finance ministers on Sunday promised to counter the wolfpack of the financial markets as they sought agreement on a 600 billion euro ($805 billion) plan to keep Greece's debt crisis from spreading.
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EU counters market wolves after Greek crisis

European Union finance ministers promised to counter the wolfpack of the financial markets and defend the euro before talks on Sunday on ring-fencing Greece's debt crisis to stop it spreading.
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EU seeks mechanism to contain Greek debt crisis

European Union finance ministers called for strong action to ensure stability before they met on Sunday to discuss ways of ring-fencing Greece's debt crisis to stop it spreading to countries like Portugal and Spain.
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UK to launch $3 billion green investment bank

The Labour government will unveil a 2 billion pound ($3 billion) green investment bank in Wednesday's budget to help Britain's transformation to a low carbon economy, a government source said on Sunday.
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Brown says UK to maintain AAA credit rating

Prime Minister Gordon Brown said Wednesday he believed Britain would maintain its coveted top credit rating and announced a pay freeze for senior civil servants and military officers to help tame a record deficit.
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Iceland seeks swift new Anglo-Dutch debt accord

Iceland's government pledged on Sunday to restart talks and swiftly reach a new debt accord with Britain and Netherlands, a day after Icelanders crushed in a referendum the previous $5 billion Icesave deal.
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UK says prepared to be flexible on Icesave

Britain is prepared to be flexible in reaching a solution with Iceland to repay debts, finance minister Alistair Darling said on Sunday, adding it would take many, many years for Britain to be reimbursed.
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Britain crawls out of recession but Q4 disappoints

Britain only just crept out of an 18-month recession at the end of 2009, suggesting any monetary tightening remains a long way off and raising fears about the prospects for recovery ahead of an election due by June.
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UK hopes to profit from bank rescue

The British government still hopes to make a profit from its multi-billion-pound rescue of major British banks during the financial crisis, Prime Minister Gordon Brown said on Saturday.
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JPMorgan's Dimon complains to UK over bonus tax

JPMorgan Chase & Co Chief Executive Jamie Dimon called British Finance Minister Alistair Darling earlier this month to say Britain's 50 percent tax on bankers' bonuses punishes the bank unfairly, a person close to the bank said.


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