Summary

  • David Cameron chairs a meeting on Greece, after the country voted to reject the terms of an international bailout

  • Mr Osborne pledges that the government will do "whatever is necessary" to protect the UK's economy against the fallout

  • It is two days until Mr Osborne unveils his first Budget since the general election

  • Culture Secretary John Whittingdale confirms the BBC is to take on the cost of free TV licences for over-75s

  1. Midlands powerhouse?published at 11.23

    Birmingham Post

    Birmingham city centre skylineImage source, PA

    We've heard a lot from George Osborne about the 'Northern Powerhouse', the devolution from Whitehall being led by Greater Manchester. Now a group of councils in the Midlands, external have come together to form their own version, which is being called the West Midlands Combined Authority. But as the Birmingham Post reports, there is disagreement over the name, with some, including city MP Gisela Stuart, external, calling for it to be called "Greater Birmingham" instead.

    Full story here., external

  2. EU 'enemies gathering'published at 11.16

    The Daily Politics

    Tim Marshall adds that the current right-wing governments of Spain and Portugal will side with Germany - and that "the glue" of the EU project is the EU itself, not the euro.

    But he says "the enemies are gathering" in the form of Euro-sceptic parties such as UKIP here and Podemos in Spain.

  3. Poor prospects?published at 11:16

    The New Statesman's Stephen Bush has been reflecting on the impact of the situation in Greece on David Cameron's ambition to renegotiation Britain's membership of the European Union. And he concludes: "Far from making David Cameron's prospects for a deal better, events in Greece show how poor the prospects for renegotiation are." Find out why he thinks that, here., external

    Quote Message

  4. Vote is 'no victory' for Greecepublished at 11.14

    The Daily Politics

    Tim Marshall

    Journalist Tim Marshall, who was foreign affairs editor of Sky News until recently, says Greece will probably "stagger on" this week, but the situation is grim.

    Quote Message

    You saw people dancing in the fountains last night, but they made a desert and called it a victory, because there is nothing positive for Greece. In this game of poker, Greece has the weakest hand."

  5. 48 hours to keep Greece in europublished at 11.10

    Robert Peston
    Economics editor

    Cash point queues in GreeceImage source, AP

    So what is the Greek government's plan to save its banks and stay in the euro?

    These are the elements, according to Georgios Stathakis, the economy minister, in an exclusive BBC interview.

    First and foremost, the European Central Bank must keep Greek banks alive for a week to 10 days, so that rescue talks can progress between Athens and its creditors, eurozone governments and the International Monetary Fund. In a best case, he said, the ECB would provide an additional €3bn of Emergency Liquidity Assistance (ELA) later today.

    But even if the ECB simply continues to freeze ELA, Mr Stathakis said the current cash withdrawal and transfer restrictions on banks could stay in place until Friday, without any of them collapsing.

    Read more from Robert.

  6. Markets volatile after Greek votepublished at 11.03

    Debt crisisImage source, PA

    European and Asian stock markets and the euro have all fallen after Greece rejected the terms of an international bailout in Sunday's referendum.

    The euro fell 0.4% against the dollar and 0.5% against the pound after the vote, which has heightened fears that Greece could exit from the eurozone.

    Japan's Nikkei index fell more than 2%, while Paris' Cac 40 and Frankfurt's Dax dropped 1.4% and 1.6% respectively, a more muted reaction than forecast.

    In London, the FTSE 100 slipped 0.9%.

    More here

  7. PM and Osborne assess Greek falloutpublished at 10.50

    Downing StreetImage source, Reuters

    David Cameron has chaired a meeting of senior ministers and officials to assess the impact on the UK of Greece's "no" vote to its austerity package.

    Bank of England governor Mark Carney and Chancellor George Osborne - who will address MPs later - were there.

    Number 10 said contingency plans were already in place following the "decisive" referendum outcome.

    The Greek people rejected the latest proposed international bailout by 61.3% to 38.7%.

    More here.

  8. Conference callpublished at 10:41 British Summer Time 6 July 2015

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  9. Commons statement on Greecepublished at 10.38

    OsborneImage source, AFP

    Chancellor George Osborne will give "full details" about the situation in Greece in a Commons statement this afternoon.

    Leaving a contingency meeting chaired by the prime minister this morning, Work and Pensions Secretary Iain Duncan Smith said: "Obviously there are consequences but the chancellor will make a statement later on so you will get full details about it." 

    Also departing from the meeting, Europe minister David Lidington said "detailed advice" had been published for British holiday makers "about taking extra cash with them and being prepared", saying "at the moment that's how things stand".

  10. EU 'bullying, threatening, lying'published at 10:32

    Victoria Derbyshire

    What does the Greek crisis mean for Britain, and David Cameron's EU renegotiation? 

    People will have observed how the EU behaved over the last week - "bullying, threatening, lying" - but also that a small country can "stand up, have self belief and assert its democracy", says Mr Hannan. 

    The UK would be able to live under its own laws if it left the EU, he adds.

    David Cameron has embarked upon a renegotiation of Britain's terms of membership of the EU, with an in/out vote to be held by the end of 2017 at the latest.

  11. 'No easy outcome'published at 10:31

    Victoria Derbyshire

    Conservative eurosceptic MEP Daniel Hannan says there are "no easy outcomes" for Greece, but the "least bad" option is for it to leave the euro, devalue its currency, default and "start pricing its way back" in to the market. Shipping and tourism both stand to gain from this, he argues.

    Reflecting on the No vote, Mr Hannan says things have been "so bad" for Greece and, until now, "there was no end in sight". Things will be "really tough" in the short term, he concedes, "but at least now there is the hope of eventual recovery".

  12. Rise in illegal immigrant arrestspublished at 10.30

    Calais immigrantsImage source, AFP

    There has been a large increase in the number of illegal immigrants detained or arrested by police at Dover.

    Some 563 were held or arrested by Port of Dover police officers last year - up from 148 in 2013, a BBC Radio Kent Freedom of Information request shows.

    The figures come days after dozens of migrants attempted to storm the Channel Tunnel's Calais terminal.

    The Home Office said it was providing funding to bolster security and that many crossing attempts had been foiled.

    More here

  13. 'Huge ramifications'published at 10:21

    Victoria Derbyshire

    BBC assistant political editor Norman Smith, who has been stationed in Whitehall this morning, says the situation in Greece matters "big time" to Britain as almost two million Britons holiday in Greece every year, with questions over what happens if they can't access cash and get stranded. Not to mention the 40,000 Britons living in Greece, and the businesses who have contracts with Greek companies, he says, adding that advice is being offered to all.

    Moreover, if the eurozone goes into a tailspin it may have "huge ramifications" for the British economy, which is why the governor of the Bank of England, Mark Carney, has been at the PM's meeting this morning.

  14. Emergency assistance freeze?published at 10:19

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  15. 'Chaos or penury'published at 10:18

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  16. Farage: EU is outdatedpublished at 10:09

    Nigel FarageImage source, AFP

    Nigel Farage welcomes Greece's decision to vote ‘No’ yesterday's referendum despite the “scaremongering and bullying from those in Brussels” saying it would mean a Greek exit from the euro.

    The UKIP leader cites one poll which suggested that 67% of Greeks under the age of 35 voted to reject the bailout deal, which he says shows “just how much the seismic plates are shifting within European politics”. 

    Quote Message

    With younger generations now turning against the EU project, we can see support for the EU's dream of a United States of Europe fading fast. An outdated European Union has been found out and rejected emphatically by young Greeks in the 21st century."

  17. Welsh NHS 'could be removed from political control'published at 10.08

    Final decisions about changes to the health service in Wales could be taken out of the hands of politicians under new proposals by the Welsh government.

    The public is being given a say on a range of ideas, including a merger of the health and social care watchdogs.

    There would be a legal duty for NHS staff to be more open with patients, not just when things go wrong, and patients would be asked if they would be willing to share personal health data for medical research.

    More here.

  18. Hogan-Howe on Azelle Rodney killingpublished at 10.00

    Azelle RodneyImage source, Met police

    Met Commissioner Sir Bernard Hogan-Howe says he "regrets" the fact that 24-year-old Azelle Rodney was killed by police - but stops short of apologising.

    On Friday, a police marksman was cleared of murder 10 years after he shot dead Mr Rodney, a suspected armed robber in Mill Hill, north London, in April 2005.

    Sir Bernard said the incident was "a terrible thing" for Mr Rodney's mother, Susan Alexander, and he would be meeting her.

    "For her, she's lost a son, I regret that," he said.

  19. Redwood: Lower taxes boost revenuespublished at 09:56

    Today Programme
    BBC Radio 4

    John Redwood

    Speaking to BBC Radio 4's Today programme earlier this morning, John Redwood, a former Conservative cabinet minister, said cutting the top rate of tax from 45p to 40p would encourage the wealthiest to pay more tax.

    Quote Message

    The way to get more money off the rich is to have tax rates they are prepared to pay. We have just seen a big surge of revenues when we cut the 50p rate to 45p and that's very encouraging. Of course, Gordon Brown knew the right answer, the right answer was a 40% rate."

  20. Hogan-Howe on police numberspublished at 09:55

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