World Bank boss Robert Zoellick will tell the G20 summit – taking place in Mexico today and tomorrow – that the eurozone crisis is facing its “Lehman’s moment” – implying that it could be on the brink of a crash that may drastically affect the global financial landscape.
“Europe may be able to muddle through but the risk is rising,” he said. Developing countries, he added, need to “prepare for the uncertainty coming out of the eurozone and the wider financial markets”.
Tory plans for elected police commissioners may be spluttering to a halt, following widespread apathy around the scheme. And according to former Army officer Anthony Kimber – who is running for the commissioner post in Sussex – a distracted government is not helping matters. “The problem is that as the government has become involved in other policing issues, this has slipped onto the back burner,” he said. “The government has not allocated any money upfront … there is not a lot of publicity.” Even so, some have argued that the commissioners could end up being more powerful than MPs.
Coalition wrestling over the Jeremy Hunt issue continues, with news that Lib Dem leader Nick Clegg’s much-heralded plans for a revamped House of Lords will be diluted by Tories disgruntled with the lack of his party’s support for Hunt’s position. The safety of Hunt’s job has been subject to intense speculation over the past month or so, following Labour accusations that he was too close to the Murdoch empire during News Corp’s bid for a controlling stake in BSkyB.
Mail on Sunday
High-profile, senior officials behind the organisation of the London Olympics have been accused of obtaining extra tickets and selling them to special-interest parties at hugely inflated prices. Representatives from China, Saudi Arabia, Greece, Lithuania and Serbia are now under investigation – and London 2012 chairman Lord Coe has been forced to deny that he personally sanctioned a release of tickets to Greek representative Spyros Capralos.
Taking what is sure to be a less-than-popular stance, ex-Royal Bank of Scotland chief Brian Hartzer – who managed the financial institution’s retail-banking arm – has said that the structure of UK banks needs to be reformed, with an end to free current accounts. Politicians and regulators must be responsible for enforcing the changes, he added.
British Airways parent company IAG is facing a shareholder revolt over the airline’s decision to not put any of its directors up for re-election. Bosses at one of IAG’s most powerful shareholding bodies, the Association of British Insurers, have encouraged their members to vote against British Airways’ pay practices at an annual meeting in Madrid.
The paper also reports that England football coach Roy Hodgson has asked security around his team at Euro 2012 to be tightened, following reports that match tactics were leaked to opponents Sweden ahead of the Group D clash on Friday. Not that it did Sweden any good…