News Headlines - 16 May 2012

▽Greece to hold new election on 17 June - BBC
http://www.bbc.co.uk/news/world-europe-18082552
Greece will hold fresh elections on 17 June and a judge has been appointed to head an interim government.
Council of State president Panagiotis Pikramenos will head the caretaker government until the election.

▽Greece euro exit fears hit market - The Press Association
http://www.google.com/hostednews/ukpress/article/ALeqM5jJRKzo-XXjVIOwHdh3MeN-vjJVQA?docId=N0136221337155789976A
Investors fear a win in the next election by parties that oppose austerity measures will see Greece denied further EU bailout money, triggering a default on its debt and its exit from the single currency.

▽Greek Banks See Deposit Withdrawals - Wall Street Journal
http://online.wsj.com/article/SB10001424052702304192704577406293887086110.html?mod=googlenews_wsj
Greek depositors withdrew EUR700 million from local banks on Monday, the country's president said, and warned that the situation facing Greece's lenders was very difficult.

▽Fluent German speaker tipped to become French PM - Telegraph.co.uk
http://www.telegraph.co.uk/news/worldnews/europe/france/9266813/Fluent-German-speaker-tipped-to-become-French-PM.html
Jean-Marc Ayrault, who is heavily tipped to be named France’s prime minister, is a veteran parliament leader whose familiarity with Germany and deal-making skills may prove invaluable as his Socialist government seeks to challenge Berlin's focus on austerity.

▽BoE cuts economic growth forecast - Financial Times
http://www.ft.com/intl/cms/s/0/6a7d6c2e-9f41-11e1-a455-00144feabdc0.html?ftcamp=published_links%2Frss%2Fworld_uk_economy%2Ffeed%2F%2Fproduct
The Bank of England has reduced its forecast for UK economic growth and increased its inflation forecast, predicting inflation will remain above its 2 per cent target for another year.