Europe

Allianz Global Investors has warned European growth will not return to pre-credit crisis levels for years to come.

Old Mutual Asset Managers' Stephen Message said UK dividends will rise 10% this year, driven by FTSE 250 companies increasing payouts for shareholders.

ON EUROPE

GLG Esprit Continental Europe manager implements process based on broker recommendations to produce top-decile numbers.

The European Central Bank has indicated it will raise interest rates for a second time in four months at next week's meeting.

The executive board of the International Monetary Fund (IMF) has chosen French finance minister Christine Lagarde as its new director.

ON EUROPE

If bankruptcy is the inability to raise all the money in tax or borrow the money you need to sustain your expenditures from commercial banks and bondholders, then Greece, effectively, went bankrupt last spring.

European banks and finance officials are discussing a proposal to replace existing Greek debt with a different type of bond to get around ratings agencies' reservations about a planned rollover, Reuters reports.

SHOULD GREECE BE ALLOWED TO GO BUST?