UK's Osborne to go ahead with £12bln of spending cuts in July budget

And, lest we forget, it's not just the Greeks who have issues with austerity measures

Yesterday saw mass demonstrations in the UK as anti-austerity protestors took to the streets in the same week-end that fin min George Osborne has pledged to stick to his planned £12bln in welfare spending cuts

It's part of a total of £30bln in cuts by 2018 and the details of this first round of cuts of the new unshackled Tory govt will be unveiled in the extra-ordinary Budget on 8 July.

Many in his own party have expressed their concerns but for him and PM Cameron it's a case of Carry On, Regardless

We wait to see if it will all still end in tears but for now the pound is enjoying some default love in more ways than one

The Beeb carries this and Reuters this