The England and Wales Cricket Board (ECB) on Wednesday announced a strong 30-player ‘behind-closed-doors training group’ who will go into a camp at the Ageas Bowl in Southampton on June 23 ahead of the first Test against West Indies starting July 8.

The group will live, train and prepare on-site at the Ageas Bowl with the players set to participate in a three-day practice match on July 1. After the warm-up match, the squad for the first Test in Southampton would be selected.&nbsp;

<h2>Behind-Closed-Doors Training Group:</h2>

Moeen Ali (Worcestershire), James Anderson (Lancashire), Jofra Archer (Sussex), Jonathan Bairstow (Yorkshire), Dominic Bess (Somerset), James Bracey (Gloucestershire), Stuart Broad (Nottinghamshire), Rory Burns (Surrey), Jos Buttler (Lancashire), Zak Crawley (Kent), Sam Curran (Surrey), Joe Denly (Kent), Ben Foakes (Surrey), Lewis Gregory (Somerset), Keaton Jennings (Lancashire), Dan Lawrence (Essex), Jack Leach (Somerset), Saqib Mahmood (Lancashire), Craig Overton (Somerset), Jamie Overton (Somerset), Matthew Parkinson (Lancashire), Ollie Pope (Surrey), Ollie Robinson (Sussex), Joe Root (Yorkshire), Dom Sibley (Warwickshire), Ben Stokes (Durham), Olly Stone (Warwickshire), Amar Virdi (Surrey), Chris Woakes (Warwickshire), Mark Wood (Durham).

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/cricket-south-africas-solidarity-cup-3-teams-2-halves-1-match-all-you-need-to-know-306521" hreflang="en">Cricket South Africa's Solidarity Cup: 3 Teams, 2 halves, 1 match - All you need to know</a>

Commenting on the selection of the group, National Selector Ed Smith, said: “Everyone involved with England is delighted that cricket is returning soon and that the players are reporting for group training in preparation for the Test series against the West Indies.

“We’d also like to thank all the county coaches who have supported these players over the past few weeks. 
“A squad for the first Test will be announced in due course.”

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/bccis-arun-dhumal-dont-know-why-icc-is-delaying-call-on-t20-world-cup-despite-australia-expressing-inability-306507" hreflang="en">BCCI's Arun Dhumal: Don't know why ICC is delaying call on T20 World Cup despite Australia expressing inability</a>

<h2>Three-match Test Series:</h2>

1st Test: England v West Indies, July 8-12, Ageas Bowl, Southampton

2nd Test: England v West Indies, July 16-20, Emirates Old Trafford, Manchester

3rd Test: England v West Indies, July 24-28, Emirates Old Trafford, Mancheste&nbsp; 
&nbsp;

The England and Wales Cricket Board (ECB) on Wednesday announced a strong 30-player ‘behind-closed-doors training group’ who will go into a camp at the Ageas Bowl in Southampton on June 23 ahead of the first Test against West Indies starting July 8.

The England and Wales Cricket Board (ECB) on Wednesday announced a strong 30-player ‘behind-closed-doors training group’ who will go into a camp at the Ageas Bowl in Southampton on June 23 ahead of the first Test against West Indies starting July 8. The group will live, train and prepare on-site at the Ageas Bowl with the players set to participate in a three-day practice match on July 1. After the warm-up match, the squad for the first Test in Southampton would be selected. Behind-Closed-Doors Training Group: Moeen Ali (Worcestershire), James Anderson (Lancashire), Jofra Archer (Sussex), Jonathan Bairstow (Yorkshire), Dominic Bess (Somerset), James Bracey (Gloucestershire), Stuart Broad (Nottinghamshire), Rory Burns (Surrey), Jos Buttler (Lancashire), Zak Crawley (Kent), Sam Curran (Surrey), Joe Denly (Kent), Ben Foakes (Surrey), Lewis Gregory (Somerset), Keaton Jennings (Lancashire), Dan Lawrence (Essex), Jack Leach (Somerset), Saqib Mahmood (Lancashire), Craig Overton (Somerset), Jamie Overton (Somerset), Matthew Parkinson (Lancashire), Ollie Pope (Surrey), Ollie Robinson (Sussex), Joe Root (Yorkshire), Dom Sibley (Warwickshire), Ben Stokes (Durham), Olly Stone (Warwickshire), Amar Virdi (Surrey), Chris Woakes (Warwickshire), Mark Wood (Durham). ALSO READ: Cricket South Africa's Solidarity Cup: 3 Teams, 2 halves, 1 match - All you need to know Commenting on the selection of the group, National Selector Ed Smith, said: “Everyone involved with England is delighted that cricket is returning soon and that the players are reporting for group training in preparation for the Test series against the West Indies. “We’d also like to thank all the county coaches who have supported these players over the past few weeks. “A squad for the first Test will be announced in due course.” ALSO READ: BCCI's Arun Dhumal: Don't know why ICC is delaying call on T20 World Cup despite Australia expressing inability Three-match Test Series: 1st Test: England v West Indies, July 8-12, Ageas Bowl, Southampton 2nd Test: England v West Indies, July 16-20, Emirates Old Trafford, Manchester 3rd Test: England v West Indies, July 24-28, Emirates Old Trafford, Mancheste

England announce strong 30-player behind-closed-doors training group ahead of West Indies Test series

International cricket is set to resume services with the England and Wales Cricket Board (ECB) announcing the schedule of three-match Test series against West Indies, subject to UK government clearance to return behind closed doors.

Ageas Bowl will host the first Test between England and West Indies with Emirates Old Trafford set to stage the second and third Test of the series. Edgbaston has been selected as a contingency and training venue.&nbsp;

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/england-bowler-plunkett-would-consider-playing-for-united-states-302656" hreflang="en">England bowler Plunkett would consider playing for United States</a>

<h2>England vs West Indies, Test series - Full schedule</h2>

• 1st Test v West Indies: 8-12 July at Ageas Bowl

• 2nd Test v West Indies: 16-20 July at Emirates Old Trafford

• 3rd Test v West Indies: 24-28 July at Emirates Old Trafford

The West Indies squad will arrive in the UK on June 9 and travel to Emirates Old Trafford for quarantining and training purposes. This will be the Windies’ base for a three-week period before moving to the Ageas Bowl for the commencement of the first Test.

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/yuvraj-singh-lands-himself-in-controversy-for-alleged-casteist-remark-on-yuzvendra-chahal-302605" hreflang="en">Yuvraj Singh lands himself in controversy for alleged casteist remark on Yuzvendra Chahal</a>

A decision on the scheduled matches for England Men and Women teams this summer will be decided on a later date.

As many as four venues submitted an interest in staging matches with the final recommendations for the use of Ageas Bowl and Old Trafford later ratified by the ECB.&nbsp;

Venues had to demonstrate key principles to create a bio-secure environment. The criteria comprised of:&nbsp;

• &nbsp;Biosecurity&nbsp;

- &nbsp;Venue perimeter, access and access control&nbsp;

- &nbsp;Hotel accommodation (onsite or nearby)&nbsp;

• &nbsp;Medical screening/testing provision&nbsp;

- &nbsp;Designated areas for isolation of anyone presenting symptoms.&nbsp;

- &nbsp;Car parking requirements (approx. 200)&nbsp;

- &nbsp;Medical Screening and Testing sites (approx. 1500 m2)&nbsp;

• &nbsp;Footprint to enable social distancing&nbsp;

- &nbsp;Extendable Players and Match Official areas&nbsp;

- &nbsp;Extendable space for broadcast compounds, studios and written media.&nbsp;

• &nbsp;Venue/Cricket operations

- &nbsp;The number and suitability of TV pitches&nbsp;

- &nbsp;Provision for warm-up matches&nbsp;

- &nbsp;Indoor and outdoor practice facilities&nbsp; 
The Ageas Bowl and Old Trafford will receive an administration fee for hosting the Test series and all additional cost will be met by the ECB.

The Ageas Bowl and Emirates Old Trafford will receive an administration fee for staging the Test series and all additional central costs will be met by the ECB.

ECB Director of Events, Steve Elworthy - who is leading on English cricket’s bio-secure operational plans - added:

“Our main objective is to deliver a safe environment for all stakeholders including players, match officials, operational staff, essential venue staff, broadcasters and media.

“We are in daily dialogue with Government and our medical team, who have been incredibly supportive during this period. These are our proposed dates and they remain subject to UK Government approval.

“We would like to thank Cricket West Indies for their co-operation and dedication in making this tour a reality, and we all look forward to the prospect of cricket returning in the coming weeks.”

International cricket is set to resume services with the England and Wales Cricket Board (ECB) announcing the schedule of three-match Test series against West Indies, subject to UK government clearance to return behind closed doors.

International cricket is set to resume services with the England and Wales Cricket Board (ECB) announcing the schedule of three-match Test series against West Indies, subject to UK government clearance to return behind closed doors. Ageas Bowl will host the first Test between England and West Indies with Emirates Old Trafford set to stage the second and third Test of the series. Edgbaston has been selected as a contingency and training venue. ALSO READ: England bowler Plunkett would consider playing for United States England vs West Indies, Test series - Full schedule • 1st Test v West Indies: 8-12 July at Ageas Bowl • 2nd Test v West Indies: 16-20 July at Emirates Old Trafford • 3rd Test v West Indies: 24-28 July at Emirates Old Trafford The West Indies squad will arrive in the UK on June 9 and travel to Emirates Old Trafford for quarantining and training purposes. This will be the Windies’ base for a three-week period before moving to the Ageas Bowl for the commencement of the first Test. ALSO READ: Yuvraj Singh lands himself in controversy for alleged casteist remark on Yuzvendra Chahal A decision on the scheduled matches for England Men and Women teams this summer will be decided on a later date. As many as four venues submitted an interest in staging matches with the final recommendations for the use of Ageas Bowl and Old Trafford later ratified by the ECB. Venues had to demonstrate key principles to create a bio-secure environment. The criteria comprised of: • Biosecurity - Venue perimeter, access and access control - Hotel accommodation (onsite or nearby) • Medical screening/testing provision - Designated areas for isolation of anyone presenting symptoms. - Car parking requirements (approx. 200) - Medical Screening and Testing sites (approx. 1500 m2) • Footprint to enable social distancing - Extendable Players and Match Official areas - Extendable space for broadcast compounds, studios and written media. • Venue/Cricket operations - The number and suitability of TV pitches - Provision for warm-up matches - Indoor and outdoor practice facilities The Ageas Bowl and Old Trafford will receive an administration fee for hosting the Test series and all additional cost will be met by the ECB. The Ageas Bowl and Emirates Old Trafford will receive an administration fee for staging the Test series and all additional central costs will be met by the ECB. ECB Director of Events, Steve Elworthy - who is leading on English cricket’s bio-secure operational plans - added: “Our main objective is to deliver a safe environment for all stakeholders including players, match officials, operational staff, essential venue staff, broadcasters and media. “We are in daily dialogue with Government and our medical team, who have been incredibly supportive during this period. These are our proposed dates and they remain subject to UK Government approval. “We would like to thank Cricket West Indies for their co-operation and dedication in making this tour a reality, and we all look forward to the prospect of cricket returning in the coming weeks.”

England vs West Indies: ECB announces schedule and venues for 3-match Test series

Amid the COVID-19 pandemic, Lancashire were dealt a personal blow when they lost their chairman David Hodgkiss late in March after the 71-year-old contracted the dreaded virus. But weeks later Lancashire have returned with record financial earnings while putting themselves in contention to host Test matches during English summer as England and Wales Cricket Board (ECB) plans to resume cricket in the country.&nbsp;

Lancashire have announced their highest-ever annual turnover of £34 million ($41 million). And EBITDA (earnings before interest, tax, depreciation, and amortization) for the Lancashire county in 2019 were £7.6 million.

"Excluding minority interests and one-off legacies it is absolutely a record," CEO Daniel Gidney told AFP. "It's a very proud day for the club.

"A hundred per cent it is David's legacy. He was a mentor, a friend as well as a boss. With his construction background, without him the £60 million redevelopment (of the ground) would not have happened. The board was the driving force but he was the centre of that.

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/anil-kumble-led-icc-cricket-committee-recommends-ban-on-saliva-due-to-covid-19-pandemic-299598" hreflang="en">Anil Kumble-led ICC Cricket Committee recommends ban on saliva due to COVID-19 pandemic</a>

"For me, a business problem to solve is like any other problem such as a recession but when you lose a friend it is an emotional kick in the gut."

Gidney further confirmed that they have made a formal expression of interest to the ECB for hosting Test matches at the iconic Old Trafford cricket stadium. Interestingly, with a Hilton hotel on the premises of the Old Trafford ground, Lancashire provides best possible solution to the ECB for hosting the longest format of the game when cricket resumes.&nbsp;

The ECB is planning to host the West Indies in a three-match Test series in July and Pakistan in August.&nbsp;

Should cricket be allowed to go ahead in the UK, like the Premier League, Tests could be played behind closed doors at ‘bio-secure’ stadiums with on-site accommodation like the Old Trafford.

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/ipl-hopes-rise-as-indian-government-allows-re-opening-of-stadiums-299457" hreflang="en">IPL hopes rise as Indian government allows re-opening of stadiums</a>

"We have made a formal expression of interest to the ECB," said Gidney. "We believe we have the capability, the experience and facilities on-site in supporting them put on a bio-secure event."

"David's legacy is to complete the ground redevelopment, a new stand, another hotel and work with the local authority on a leisure centre," said Gidney.

"We also decided after last year's World Cup match between India and Pakistan to look east and an Indian growth strategy -- to make Lancashire the second Indian team so if the fan say supports Mumbai Indians then their English team is us.

"We are looking at both building the fanbase and players playing for Lancashire.

"The objective is definitely getting more Asian voices involved in English cricket -- it can only be a good thing for the game."

Amid the COVID-19 pandemic, Lancashire were dealt a personal blow when they lost their chairman David Hodgkiss late in March after the 71-year-old contracted the dreaded virus.

Amid the COVID-19 pandemic, Lancashire were dealt a personal blow when they lost their chairman David Hodgkiss late in March after the 71-year-old contracted the dreaded virus. But weeks later Lancashire have returned with record financial earnings while putting themselves in contention to host Test matches during English summer as England and Wales Cricket Board (ECB) plans to resume cricket in the country. Lancashire have announced their highest-ever annual turnover of £34 million ($41 million). And EBITDA (earnings before interest, tax, depreciation, and amortization) for the Lancashire county in 2019 were £7.6 million. "Excluding minority interests and one-off legacies it is absolutely a record," CEO Daniel Gidney told AFP. "It's a very proud day for the club. "A hundred per cent it is David's legacy. He was a mentor, a friend as well as a boss. With his construction background, without him the £60 million redevelopment (of the ground) would not have happened. The board was the driving force but he was the centre of that. ALSO READ: Anil Kumble-led ICC Cricket Committee recommends ban on saliva due to COVID-19 pandemic "For me, a business problem to solve is like any other problem such as a recession but when you lose a friend it is an emotional kick in the gut." Gidney further confirmed that they have made a formal expression of interest to the ECB for hosting Test matches at the iconic Old Trafford cricket stadium. Interestingly, with a Hilton hotel on the premises of the Old Trafford ground, Lancashire provides best possible solution to the ECB for hosting the longest format of the game when cricket resumes. The ECB is planning to host the West Indies in a three-match Test series in July and Pakistan in August. Should cricket be allowed to go ahead in the UK, like the Premier League, Tests could be played behind closed doors at ‘bio-secure’ stadiums with on-site accommodation like the Old Trafford. ALSO READ: IPL hopes rise as Indian government allows re-opening of stadiums "We have made a formal expression of interest to the ECB," said Gidney. "We believe we have the capability, the experience and facilities on-site in supporting them put on a bio-secure event." "David's legacy is to complete the ground redevelopment, a new stand, another hotel and work with the local authority on a leisure centre," said Gidney. "We also decided after last year's World Cup match between India and Pakistan to look east and an Indian growth strategy -- to make Lancashire the second Indian team so if the fan say supports Mumbai Indians then their English team is us. "We are looking at both building the fanbase and players playing for Lancashire. "The objective is definitely getting more Asian voices involved in English cricket -- it can only be a good thing for the game."

Lancashire offer to host Test cricket during COVID-19 crisis after posting record earnings

English cricket's controversial new Hundred competition has been delayed until 2021 because of the coronavirus pandemic, cricket chiefs announced on Thursday.

The new 100-balls-per-side format, to be played by eight franchises rather than the established 18 first-class counties, had been due to start in July.

But with the English season delayed until at least July 1, with any matches after that likely to be played behind closed doors, the England and Wales Cricket Board has decided to hold the Hundred over until next year.

"The situation we find ourselves in as a country means that delivery of the Hundred will not be possible this summer," ECB chief executive Tom Harrison in a statement.

"Whilst we are naturally disappointed that we won't get to realise our ambitions this year, the Hundred will go ahead in 2021 when we are safely able to deliver everything we intended to help grow the game."

The ECB's statement stressed that an event with no fans "directly contradicts the competition's goal to attract a broader audience."

Global travel restrictions also mean it is not possible for star players from other countries to take part.

<h2>- New fans -</h2>

The ECB have long insisted the Hundred, which they hoped to launch off the back of England's success in winning last year's World Cup on home soil, would attract a new audience vital to safeguarding cricket's future.

But many voices within English cricket have been opposed to the competition from the outset, arguing there is no space for a new format in an already congested calendar.

They say many of the ECB's aims could be achieved with better support for the existing Twenty20 Blast.

Even before the pandemic, the ECB had itself forecast the Hundred would make a loss in its first five seasons.

Costs in the first year, including the £1.3 million ($1.6 million) paid to each county, were estimated at £58 million, against an income of £51 million.

But Harrison, one of the prime movers behind the Hundred, said Thursday: "As we emerge from the fallout of COVID-19, there will be an even greater need for the Hundred.&nbsp;

"Our survival as a game, long-term, will be dependent on our ability to recover financially and continue our ambition to build on cricket's growing fan base.&nbsp;

"That need has not gone anyway, if anything, it is now more critical."

Harrison was equally adamant the tournament would be a financial success in the long run.&nbsp;

"The Hundred will create millions in revenues for the game, through hosting fees, hospitality and ticket sales, as well as delivering £25 million in annual financial distributions to all first-class counties and MCC (Marylebone Cricket Club)," he said.&nbsp;

"Its role in driving participation alongside supporting the development of the women's game will be material in generating take-up of our game across country-wide communities."

English cricket's controversial new Hundred competition has been delayed until 2021 because of the coronavirus pandemic, cricket chiefs announced on Thursday. The new 100-balls-per-side format, to be played by eight franchises rather than the established 18 first-class counties, had been due to start in July.

English cricket's controversial new Hundred competition has been delayed until 2021 because of the coronavirus pandemic, cricket chiefs announced on Thursday. The new 100-balls-per-side format, to be played by eight franchises rather than the established 18 first-class counties, had been due to start in July. But with the English season delayed until at least July 1, with any matches after that likely to be played behind closed doors, the England and Wales Cricket Board has decided to hold the Hundred over until next year. "The situation we find ourselves in as a country means that delivery of the Hundred will not be possible this summer," ECB chief executive Tom Harrison in a statement. "Whilst we are naturally disappointed that we won't get to realise our ambitions this year, the Hundred will go ahead in 2021 when we are safely able to deliver everything we intended to help grow the game." The ECB's statement stressed that an event with no fans "directly contradicts the competition's goal to attract a broader audience." Global travel restrictions also mean it is not possible for star players from other countries to take part. - New fans - The ECB have long insisted the Hundred, which they hoped to launch off the back of England's success in winning last year's World Cup on home soil, would attract a new audience vital to safeguarding cricket's future. But many voices within English cricket have been opposed to the competition from the outset, arguing there is no space for a new format in an already congested calendar. They say many of the ECB's aims could be achieved with better support for the existing Twenty20 Blast. Even before the pandemic, the ECB had itself forecast the Hundred would make a loss in its first five seasons. Costs in the first year, including the £1.3 million ($1.6 million) paid to each county, were estimated at £58 million, against an income of £51 million. But Harrison, one of the prime movers behind the Hundred, said Thursday: "As we emerge from the fallout of COVID-19, there will be an even greater need for the Hundred. "Our survival as a game, long-term, will be dependent on our ability to recover financially and continue our ambition to build on cricket's growing fan base. "That need has not gone anyway, if anything, it is now more critical." Harrison was equally adamant the tournament would be a financial success in the long run. "The Hundred will create millions in revenues for the game, through hosting fees, hospitality and ticket sales, as well as delivering £25 million in annual financial distributions to all first-class counties and MCC (Marylebone Cricket Club)," he said. "Its role in driving participation alongside supporting the development of the women's game will be material in generating take-up of our game across country-wide communities."

Virus forces delay of English cricket's Hundred until 2021

Ben Stokes and Mark Wood made a double strike shortly before tea, breaking stubborn South African resistance and setting up a 191-run win for England on the fourth day of the fourth and final Test at the Wanderers Stadium on Monday.

The win clinched a 3-1 series victory for England.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Mark Wood picks up his fourth wicket and South Africa are all out for 274. 
 
England win the Johannesburg Test by 191 runs, taking the <a href="https://twitter.com/hashtag/SAvENG?src=hash&amp;ref_src=twsrc%5Etfw">#SAvENG</a> series home 3-1! 
 
SCORECARD: <a href="https://t.co/fSsfDFTCrE">https://t.co/fSsfDFTCrE</a> <a href="https://t.co/L0DkRhQS0I">pic.twitter.com/L0DkRhQS0I</a>
— ICC (@ICC) <a href="https://twitter.com/ICC/status/1221809757415264256?ref_src=twsrc%5Etfw">January 27, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Set to make a world record 466 to win, South Africa reached 181 for two before Stokes bowled home captain Faf du Plessis for 35.

In the next over man-of-the-match Wood dismissed Rassie van der Dussen for 98. He went on to claim four for 54 to finish with match figures of nine for 100.

Quinton de Kock and Temba Bavuma shone briefly but South Africans were bowled out for 274.

Van der Dussen and Du Plessis batted for all but 13 minutes of an extended two-and-a-half hour afternoon session to give South Africa some hope, making the England bowlers toil on a hot afternoon.

But Stokes bowled a ball which hit a crack and kept low, deflecting off the toe of Du Plessis' bat into the stumps.

Van der Dussen looked set for a maiden Test century but in the next over he fell to Wood two short of the landmark.

He had batted impressively, hitting 15 fours and two sixes in a 133-ball innings but both he and Du Plessis were given a torrid time by Wood, bowling at express pace on a pitch where the bounce was gradually becoming more unpredictable.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
🔸 64 Tests 
🔸 224 wickets 
🔸 13 five-wicket hauls 
 
Congratulations on a terrific Test career, <a href="https://twitter.com/VDP_24?ref_src=twsrc%5Etfw">@VDP_24</a>! <a href="https://t.co/L0OEfskcBN">pic.twitter.com/L0OEfskcBN</a>
— ICC (@ICC) <a href="https://twitter.com/ICC/status/1221815255745081346?ref_src=twsrc%5Etfw">January 27, 2020</a></blockquote>
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With tea looming, England set a field which suggested a short-pitched barrage was likely. But Wood then bowled a full-length delivery which Van der Dussen drove awkwardly to short cover where Stuart Broad held a good diving catch.

It was the second wicket for Stokes –- both which came at crucial times shortly before an interval. His first victim was opening batsman Dean Elgar, who was caught and bowled playing an awkward pull shot in the penultimate over before lunch. Stokes finished with two for 47.

De Kock and Bavuma batted brightly in a fifth-wicket stand of 48 before Broad bowled a vicious bouncer which Bavuma gloved to wicketkeeper Jos Buttler.&nbsp;

Broad had Dwaine Pretorius caught at fine leg in his next over and the rest followed.&nbsp;

Vernon Philander, playing in his last Test, struck a couple of beefy blows before falling to Wood who supplied the coup de grace, another lifting ball flicking Anrich Nortje's glove on its way through to Buttler down the legside.

Ben Stokes and Mark Wood made a double strike shortly before tea, breaking stubborn South African resistance and setting up a 191-run win for England on the fourth day of the fourth and final Test at the Wanderers Stadium on Monday.

Ben Stokes and Mark Wood made a double strike shortly before tea, breaking stubborn South African resistance and setting up a 191-run win for England on the fourth day of the fourth and final Test at the Wanderers Stadium on Monday. The win clinched a 3-1 series victory for England. Mark Wood picks up his fourth wicket and South Africa are all out for 274. England win the Johannesburg Test by 191 runs, taking the #SAvENG series home 3-1! SCORECARD: https://t.co/fSsfDFTCrE pic.twitter.com/L0DkRhQS0I — ICC (@ICC) January 27, 2020 × Set to make a world record 466 to win, South Africa reached 181 for two before Stokes bowled home captain Faf du Plessis for 35. In the next over man-of-the-match Wood dismissed Rassie van der Dussen for 98. He went on to claim four for 54 to finish with match figures of nine for 100. Quinton de Kock and Temba Bavuma shone briefly but South Africans were bowled out for 274. Van der Dussen and Du Plessis batted for all but 13 minutes of an extended two-and-a-half hour afternoon session to give South Africa some hope, making the England bowlers toil on a hot afternoon. But Stokes bowled a ball which hit a crack and kept low, deflecting off the toe of Du Plessis' bat into the stumps. Van der Dussen looked set for a maiden Test century but in the next over he fell to Wood two short of the landmark. He had batted impressively, hitting 15 fours and two sixes in a 133-ball innings but both he and Du Plessis were given a torrid time by Wood, bowling at express pace on a pitch where the bounce was gradually becoming more unpredictable. 🔸 64 Tests 🔸 224 wickets 🔸 13 five-wicket hauls Congratulations on a terrific Test career, @VDP_24! pic.twitter.com/L0OEfskcBN — ICC (@ICC) January 27, 2020 × With tea looming, England set a field which suggested a short-pitched barrage was likely. But Wood then bowled a full-length delivery which Van der Dussen drove awkwardly to short cover where Stuart Broad held a good diving catch. It was the second wicket for Stokes –- both which came at crucial times shortly before an interval. His first victim was opening batsman Dean Elgar, who was caught and bowled playing an awkward pull shot in the penultimate over before lunch. Stokes finished with two for 47. De Kock and Bavuma batted brightly in a fifth-wicket stand of 48 before Broad bowled a vicious bouncer which Bavuma gloved to wicketkeeper Jos Buttler. Broad had Dwaine Pretorius caught at fine leg in his next over and the rest followed. Vernon Philander, playing in his last Test, struck a couple of beefy blows before falling to Wood who supplied the coup de grace, another lifting ball flicking Anrich Nortje's glove on its way through to Buttler down the legside.

South Africa vs England, fourth Test: England thump South Africa to win series 3-1

World shares fell on Thursday, led by the biggest decline in <a href="https://www.wionews.com/business-economy/global-markets-us-stock-futures-slip-after-tariff-hike-asia-shares-eke-out-gains-217420">Chinese stocks</a> in more than eight months, as concern mounted about the spread of a deadly virus in China.

With millions of Chinese preparing to travel for the Lunar New Year, the potential the disease to spread, along with the tendency of traders to reduce their exposure before holidays, left markets struggling.

Safe options like Japan's yen and government bonds rose, while European stocks followed Asia lower. The threat to airline travel and an increase in supply pushed oil prices to seven-week lows.

"Ultimately, the coronavirus is a slow-burning but important story for markets that is likely to last for months rather than just a few days," said TD Securities' European head of currency strategy, Ned Rumpeltin. "And the natural go-to currencies, when there are headlines like these, are the yen and the Swiss franc."

The Swiss franc rose to a near three-year high against the euro overnight, but it was trading little changed as the focus in Europe turned to its central banks.

Norway's central bank had already left its interest rates unchanged. The <a href="https://www.wionews.com/world/european-central-bank-will-ease-policy-if-inflation-doesnt-pick-up-draghi-228287">European Central Bank</a> holds its first meeting of the year later on Thursday, where it's expected to outline its first formal policy review in 17 years.

It will probably last for most of the year and span topics from the inflation target to digital money and the fight against climate change.

"Quite a lot has happened in the last 17 years," Rumpeltin said. "They are due for a rethink."

As the virus took hold, MSCI's broadest index of <a href="https://www.wionews.com/business-economy/asian-shares-erase-losses-as-mideast-tensions-ease-oil-ticks-up-273093">Asia-Pacific shares</a> outside Japan fell 1.07 per cent. Chinese shares dropped 3.1 per cent, the biggest daily decline since May, when US&nbsp;President Donald Trump's threats of additional tariffs on Chinese goods rocked financial markets.

Hong Kong shares ended down 1.5 per cent&nbsp;and <a href="https://www.wionews.com/business-%26-economy/asia-stocks-open-lower-on-fears-over-us-growth-155633">Japan's Nikkei index</a> slid 1 per cent.

Among major currencies, the Chinese yuan fell to a two-week low, on course for its worst week since August. The Japanese yen climbed 0.2&nbsp;per cent&nbsp;to secure a third day of gains.

Gold and US&nbsp;Treasuries also rose as China blocked travel to and from Wuhan, the city where the coronavirus outbreak originated. Gold later recovered in Europe.

Deaths in China from the coronavirus rose to 17 on Wednesday, with nearly 600 cases confirmed. The outbreak has evoked memories of Severe Acute Respiratory Syndrome (SARS) in 2002-2003, another coronavirus that broke out in China and killed nearly 800 people worldwide.

"The coronavirus has introduced some caution," said Michael McCarthy, chief market strategist at CMC Markets in Sydney. "There is no reason to expect a global pandemic now, but there is some repricing in financial markets."

World shares fell on Thursday, led by the biggest decline in Chinese stocks in more than eight months, as concern mounted about the spread of a deadly virus in China.

World shares fell on Thursday, led by the biggest decline in Chinese stocks in more than eight months, as concern mounted about the spread of a deadly virus in China. With millions of Chinese preparing to travel for the Lunar New Year, the potential the disease to spread, along with the tendency of traders to reduce their exposure before holidays, left markets struggling. Safe options like Japan's yen and government bonds rose, while European stocks followed Asia lower. The threat to airline travel and an increase in supply pushed oil prices to seven-week lows. "Ultimately, the coronavirus is a slow-burning but important story for markets that is likely to last for months rather than just a few days," said TD Securities' European head of currency strategy, Ned Rumpeltin. "And the natural go-to currencies, when there are headlines like these, are the yen and the Swiss franc." The Swiss franc rose to a near three-year high against the euro overnight, but it was trading little changed as the focus in Europe turned to its central banks. Norway's central bank had already left its interest rates unchanged. The European Central Bank holds its first meeting of the year later on Thursday, where it's expected to outline its first formal policy review in 17 years. It will probably last for most of the year and span topics from the inflation target to digital money and the fight against climate change. "Quite a lot has happened in the last 17 years," Rumpeltin said. "They are due for a rethink." As the virus took hold, MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.07 per cent. Chinese shares dropped 3.1 per cent, the biggest daily decline since May, when US President Donald Trump's threats of additional tariffs on Chinese goods rocked financial markets. Hong Kong shares ended down 1.5 per cent and Japan's Nikkei index slid 1 per cent. Among major currencies, the Chinese yuan fell to a two-week low, on course for its worst week since August. The Japanese yen climbed 0.2 per cent to secure a third day of gains. Gold and US Treasuries also rose as China blocked travel to and from Wuhan, the city where the coronavirus outbreak originated. Gold later recovered in Europe. Deaths in China from the coronavirus rose to 17 on Wednesday, with nearly 600 cases confirmed. The outbreak has evoked memories of Severe Acute Respiratory Syndrome (SARS) in 2002-2003, another coronavirus that broke out in China and killed nearly 800 people worldwide. "The coronavirus has introduced some caution," said Michael McCarthy, chief market strategist at CMC Markets in Sydney. "There is no reason to expect a global pandemic now, but there is some repricing in financial markets."

Virus fears keep stocks red; ECB gets ready to rethink

Eurozone inflation slowed in September to near a three-year low because of cheaper energy although core inflation edged higher, highlighting the challenges facing the European Central Bank.

The divergence between the headline and core figures underlines the split of opinion over the state of the eurozone economy among the governors of the ECB. It wants to keep inflation below, but close to 2 per cent over the medium term but has so far failed to boost price growth despite years of unconventional steps.

Eurostat said on Tuesday that consumer prices in the 19 countries sharing the euro rose 0.2 per cent month-on-month in September for a 0.9 per cent year-on-year gain. Economists polled by Reuters had expected an unchanged reading of 1.0 per cent.

The weaker than expected September number, the lowest year-on-year figure since November 2016, was mainly due to a 1.8 per cent year-on-year fall in energy prices.

Excluding energy and equally volatile unprocessed food, price growth accelerated to 1.2 per cent in September from 1.1 per cent in August. This number is called core inflation by the ECB which it monitors for monetary policy decisions,

An even more narrowly defined core inflation measure, which excludes energy, food, alcohol, and tobacco and looked at by many market economists, also accelerated to 1.0 per cent from 0.9 per cent year-on-year.

"It should continue to rise slightly in the coming months. However, the strong increase in underlying inflation hoped for by the ECB is still not in sight," said Christoph Weil, economist at Commerzbank.

The ECB decided on September 12 to resume asset purchases to inject more money into the slowing economy and in this way make prices grow more quickly.

But the decision was opposed by a third of ECB policymakers, including Germany's Sabine Lautenschlaeger who resigned before the end of her term last week.

ECB chief economist Philip Lane said last week the division was due to "ambiguity" over the state of the eurozone economy among ECB governors.

"We expect the central bank to take time to assess the impact of last month's easing package before taking further action," a team of Morgan Stanley economists said in a note.

They saw only a minimal boost to the economy even once quantitative easing restarted in November, with inflation remaining subdued. There were also a variety of downside risks to growth.

"With fiscal policy remaining reactive for now, we expect the ECB to take further action. Our base case is for another 10 bp cut in March, though the timing remains rather uncertain at this stage," the Morgan Stanley note said.

Eurozone inflation slowed in September to near a three-year low because of cheaper energy although core inflation edged higher, highlighting the challenges facing the European Central Bank.

Eurozone inflation slowed in September to near a three-year low because of cheaper energy although core inflation edged higher, highlighting the challenges facing the European Central Bank. The divergence between the headline and core figures underlines the split of opinion over the state of the eurozone economy among the governors of the ECB. It wants to keep inflation below, but close to 2 per cent over the medium term but has so far failed to boost price growth despite years of unconventional steps. Eurostat said on Tuesday that consumer prices in the 19 countries sharing the euro rose 0.2 per cent month-on-month in September for a 0.9 per cent year-on-year gain. Economists polled by Reuters had expected an unchanged reading of 1.0 per cent. The weaker than expected September number, the lowest year-on-year figure since November 2016, was mainly due to a 1.8 per cent year-on-year fall in energy prices. Excluding energy and equally volatile unprocessed food, price growth accelerated to 1.2 per cent in September from 1.1 per cent in August. This number is called core inflation by the ECB which it monitors for monetary policy decisions, An even more narrowly defined core inflation measure, which excludes energy, food, alcohol, and tobacco and looked at by many market economists, also accelerated to 1.0 per cent from 0.9 per cent year-on-year. "It should continue to rise slightly in the coming months. However, the strong increase in underlying inflation hoped for by the ECB is still not in sight," said Christoph Weil, economist at Commerzbank. The ECB decided on September 12 to resume asset purchases to inject more money into the slowing economy and in this way make prices grow more quickly. But the decision was opposed by a third of ECB policymakers, including Germany's Sabine Lautenschlaeger who resigned before the end of her term last week. ECB chief economist Philip Lane said last week the division was due to "ambiguity" over the state of the eurozone economy among ECB governors. "We expect the central bank to take time to assess the impact of last month's easing package before taking further action," a team of Morgan Stanley economists said in a note. They saw only a minimal boost to the economy even once quantitative easing restarted in November, with inflation remaining subdued. There were also a variety of downside risks to growth. "With fiscal policy remaining reactive for now, we expect the ECB to take further action. Our base case is for another 10 bp cut in March, though the timing remains rather uncertain at this stage," the Morgan Stanley note said.

Euro zone inflation slows to three-year low on cheaper energy

England paceman Jofra Archer has been awarded a central contract for Test and white-ball cricket for the first time after making an impact during the World Cup and the Ashes.

Archer, 24, was England's leading wicket-taker in their triumphant World Cup campaign. He then took 22 wickets at an average of 20.27 in four Tests against Australia. His bowling touched speeds in the mid-90-miles-per-hour range in a scintillating debut international summer.

The Barbados-born Archer, who only became England qualified earlier this year, is one of 10 players to receive a Test deal for the 2019/20 season. Another is opener Rory Burns, who cemented his spot at the top of the order with some battling performances in the Ashes.

Spin duo Moeen Ali and Adil Rashid have lost their central Test contracts but are in a list of 12, also including Joe Denly, to be handed less lucrative white-ball deals.

Moeen was dropped from the World Cup squad towards the end of the group stage before a dismal showing in the Ashes opener. He did not appear for the rest of the series.

Rashid was a regular for England in the Test side last year but lost his place during the winter tour of the West Indies and was unused against Australia, although he is a regular in captain Eoin Morgan's white-ball set-up.

Test contracts: J. Anderson (Lancashire), J. Archer (Sussex), J. Bairstow (Yorkshire), S. Broad (Nottinghamshire), R. Burns (Surrey), J. Buttler (Lancashire), S. Curran (Surrey), J. Root (Yorkshire), B. Stokes (Durham), C. Woakes (Warwickshire).

White-ball contracts: M. Ali (Worcestershire), J. Archer (Sussex), J. Bairstow (Yorkshire), J. Buttler (Lancashire), J. Denly (Kent), E. Morgan (Middlesex), A. Rashid (Yorkshire), J. Root (Yorkshire), J. Roy (Surrey), B. Stokes (Durham), C. Woakes (Warwickshire), M. Wood (Durham).

Increment contracts: T. Curran (Surrey), J. Leach (Somerset).

England paceman Jofra Archer has been awarded a central contract for Test and white-ball cricket for the first time after making an impact during the World Cup and the Ashes.

England paceman Jofra Archer has been awarded a central contract for Test and white-ball cricket for the first time after making an impact during the World Cup and the Ashes. Archer, 24, was England's leading wicket-taker in their triumphant World Cup campaign. He then took 22 wickets at an average of 20.27 in four Tests against Australia. His bowling touched speeds in the mid-90-miles-per-hour range in a scintillating debut international summer. The Barbados-born Archer, who only became England qualified earlier this year, is one of 10 players to receive a Test deal for the 2019/20 season. Another is opener Rory Burns, who cemented his spot at the top of the order with some battling performances in the Ashes. Spin duo Moeen Ali and Adil Rashid have lost their central Test contracts but are in a list of 12, also including Joe Denly, to be handed less lucrative white-ball deals. Moeen was dropped from the World Cup squad towards the end of the group stage before a dismal showing in the Ashes opener. He did not appear for the rest of the series. Rashid was a regular for England in the Test side last year but lost his place during the winter tour of the West Indies and was unused against Australia, although he is a regular in captain Eoin Morgan's white-ball set-up. Test contracts: J. Anderson (Lancashire), J. Archer (Sussex), J. Bairstow (Yorkshire), S. Broad (Nottinghamshire), R. Burns (Surrey), J. Buttler (Lancashire), S. Curran (Surrey), J. Root (Yorkshire), B. Stokes (Durham), C. Woakes (Warwickshire). White-ball contracts: M. Ali (Worcestershire), J. Archer (Sussex), J. Bairstow (Yorkshire), J. Buttler (Lancashire), J. Denly (Kent), E. Morgan (Middlesex), A. Rashid (Yorkshire), J. Root (Yorkshire), J. Roy (Surrey), B. Stokes (Durham), C. Woakes (Warwickshire), M. Wood (Durham). Increment contracts: T. Curran (Surrey), J. Leach (Somerset).

England's Jofra Archer rewarded with contracts after impressive debut season

The European Parliament on Tuesday approved <a href="https://www.wionews.com/world/christine-lagarde-resigns-as-international-monetary-fund-chief-starting-race-for-her-successor-236536">outgoing IMF chief</a> Christine Lagarde as the next boss of the European Central Bank, which last week announced massive stimulus for the sluggish eurozone despite divisions among its governors.

<a href="https://www.wionews.com/world/lagarde-temporarily-steps-down-as-imf-chief-american-economist-david-lipton-named-interim-leader-232570">Lagarde</a>, who was absent for the vote, won backing from 394 MEPs, with 206 votings against and 49 abstaining in a secret ballot.

Some criticised her not turning up.

The parliament's green light is just a recommendation.

The final decision on her appointment is up to EU leaders in a mid-October summit.

She is expected to easily clinch that confirmation as the leaders put her forward for the ECB post back in July.

Lagarde, a former French economy minister and head of the International Monetary Fund for the past eight years, is expected to largely follow the course set by departing ECB president Mario Draghi.

Draghi was hailed seven years ago for saving the eurozone from the debilitating crisis by vowing "the ECB is ready to do whatever it takes".

But his decision last Thursday to have the ECB intervene again with quantitative easing (QE) from November and a cut to the interest paid on banks' deposits deeper into negative territory has ruffled the feathers of some EU states.

Germany and the Netherlands notably accused Draghi of going too far. Sources told AFP that around 10 of the 25 ECB governors were against relaunching QE.

Draghi had underlined three challenges facing the ECB and its goal of price stability: a slowing eurozone economy, looming trade protectionism and Brexit, and the bank's degrading economic forecasts.

He is to leave his job to Lagarde after hosting a last monetary policy meeting in October.

The European Parliament on Tuesday approved outgoing IMF chief Christine Lagarde as the next boss of the European Central Bank, which last week announced massive stimulus for the sluggish eurozone despite divisions among its governors.

The European Parliament on Tuesday approved outgoing IMF chief Christine Lagarde as the next boss of the European Central Bank, which last week announced massive stimulus for the sluggish eurozone despite divisions among its governors. Lagarde, who was absent for the vote, won backing from 394 MEPs, with 206 votings against and 49 abstaining in a secret ballot. Some criticised her not turning up. The parliament's green light is just a recommendation. The final decision on her appointment is up to EU leaders in a mid-October summit. She is expected to easily clinch that confirmation as the leaders put her forward for the ECB post back in July. Lagarde, a former French economy minister and head of the International Monetary Fund for the past eight years, is expected to largely follow the course set by departing ECB president Mario Draghi. Draghi was hailed seven years ago for saving the eurozone from the debilitating crisis by vowing "the ECB is ready to do whatever it takes". But his decision last Thursday to have the ECB intervene again with quantitative easing (QE) from November and a cut to the interest paid on banks' deposits deeper into negative territory has ruffled the feathers of some EU states. Germany and the Netherlands notably accused Draghi of going too far. Sources told AFP that around 10 of the 25 ECB governors were against relaunching QE. Draghi had underlined three challenges facing the ECB and its goal of price stability: a slowing eurozone economy, looming trade protectionism and Brexit, and the bank's degrading economic forecasts. He is to leave his job to Lagarde after hosting a last monetary policy meeting in October.

European Parliament approves Lagarde as next European Central Bank chief

The British pound hit a seven-week high against the dollar Friday on easing fears of a no-deal Brexit.

Stock markets meanwhile won support after <a href="https://www.wionews.com/world/asian-markets-extend-gains-as-optimism-slowly-returns-249012">China</a> said some US agricultural products including pork and soybeans would be exempt from added tariffs, ahead of trade talks between Beijing and Washington scheduled for October.

The announcement is the latest in a series of appeasement measures between the world's two biggest economies, who for the past year have been locked in a bitter trade war resulting in tit-for-tat tariffs on hundreds of billions of dollars in bilateral trade.

In foreign exchange, the pound was in focus after the UK currency jumped one per cent to $1.2476, the highest level since late July.

Sterling won strong ground also versus the euro, which had been gaining on European Central Bank plans to stimulate the struggling eurozone economy.

The pound "has rallied as traders are less fearful about the possibility of a no-deal Brexit", noted David Madden, an analyst at CMC Markets UK.

It comes after Britain's parliamentary speaker warned Prime Minister <a href="https://www.wionews.com/world/cautiously-optimistic-on-brexit-deal-says-pm-boris-johnson-ahead-of-eu-meeting-249472">Boris Johnson</a> not to disobey the law by refusing to ask for a Brexit delay and vowed to thwart any attempt to circumvent legislation.

'Most terrible example'

Parliament passed a law earlier this month aimed at preventing a no-deal Brexit, but Johnson is adamant Britain will still leave the EU on schedule on October 31 with or without a withdrawal agreement.

The speaker of Britain's House of Commons John Bercow said disobeying the law "would be the most terrible example to set to the rest of society", according to Britain's Press Association news agency.

In a speech in London on Thursday, Bercow warned if the government comes close to doing so, parliament "would want to cut off such a possibility and do so forcefully".

The pound's rally in reaction to Bercow hit London's benchmark FTSE 100 stocks index that features a number of multinationals earning in dollars.

"The FTSE 100 is slightly lower as the strength of sterling is causing the British index to underperform against its continental counterparts," Madden added.

"Internationally focused firms are lower."

No big bazooka

Earlier, equities rose in Asia after the ECB on Thursday unveiled a fresh round of economic stimulus and another interest rate cut.

Global markets had been buoyed this week by a growing sense that central banks globally were set on easing monetary policy to support growth, and the ECB did not disappoint.

It said it would restart its bond-buying quantitative easing programme to boost liquidity, provide support for struggling banks and reduce borrowing costs deeper into negative territory in a bid to kickstart lending.

The announcement, while slightly short of expectations, was broadly cheered by markets, sending equities in Europe and New York higher Thursday.

"In the end, it wasn't a big bazooka, but ECB President Mario Draghi did his level best trying to convince investors that monetary policy will remain extremely accommodative for some considerable time to come," said Gavin Friend, a senior market strategist at National Australia Bank.

The news also provided further hope that the Federal Reserve would cut rates at its meeting next week, even though data showed a jump in US inflation last month.

The British pound hit a seven-week high against the dollar Friday on easing fears of a no-deal Brexit. Stock markets meanwhile won support after China said some US agricultural products including pork and soybeans would be exempt from added tariffs, ahead of trade talks between Beijing and Washington scheduled for October.

The British pound hit a seven-week high against the dollar Friday on easing fears of a no-deal Brexit. Stock markets meanwhile won support after China said some US agricultural products including pork and soybeans would be exempt from added tariffs, ahead of trade talks between Beijing and Washington scheduled for October. The announcement is the latest in a series of appeasement measures between the world's two biggest economies, who for the past year have been locked in a bitter trade war resulting in tit-for-tat tariffs on hundreds of billions of dollars in bilateral trade. In foreign exchange, the pound was in focus after the UK currency jumped one per cent to $1.2476, the highest level since late July. Sterling won strong ground also versus the euro, which had been gaining on European Central Bank plans to stimulate the struggling eurozone economy. The pound "has rallied as traders are less fearful about the possibility of a no-deal Brexit", noted David Madden, an analyst at CMC Markets UK. It comes after Britain's parliamentary speaker warned Prime Minister Boris Johnson not to disobey the law by refusing to ask for a Brexit delay and vowed to thwart any attempt to circumvent legislation. 'Most terrible example' Parliament passed a law earlier this month aimed at preventing a no-deal Brexit, but Johnson is adamant Britain will still leave the EU on schedule on October 31 with or without a withdrawal agreement. The speaker of Britain's House of Commons John Bercow said disobeying the law "would be the most terrible example to set to the rest of society", according to Britain's Press Association news agency. In a speech in London on Thursday, Bercow warned if the government comes close to doing so, parliament "would want to cut off such a possibility and do so forcefully". The pound's rally in reaction to Bercow hit London's benchmark FTSE 100 stocks index that features a number of multinationals earning in dollars. "The FTSE 100 is slightly lower as the strength of sterling is causing the British index to underperform against its continental counterparts," Madden added. "Internationally focused firms are lower." No big bazooka Earlier, equities rose in Asia after the ECB on Thursday unveiled a fresh round of economic stimulus and another interest rate cut. Global markets had been buoyed this week by a growing sense that central banks globally were set on easing monetary policy to support growth, and the ECB did not disappoint. It said it would restart its bond-buying quantitative easing programme to boost liquidity, provide support for struggling banks and reduce borrowing costs deeper into negative territory in a bid to kickstart lending. The announcement, while slightly short of expectations, was broadly cheered by markets, sending equities in Europe and New York higher Thursday. "In the end, it wasn't a big bazooka, but ECB President Mario Draghi did his level best trying to convince investors that monetary policy will remain extremely accommodative for some considerable time to come," said Gavin Friend, a senior market strategist at National Australia Bank. The news also provided further hope that the Federal Reserve would cut rates at its meeting next week, even though data showed a jump in US inflation last month.

Pound jumps on Brexit hopes as global stocks firmer

As the ECB takes the final step in phasing out the 500-euro note, few are expected to mourn a bill favoured by criminals but rarely seen in daily life.

Except perhaps in cash-loving Germany.

From Sunday, central banks in 17 of the 19 eurozone countries will stop issuing the violet-coloured banknotes.

Only the German and Austrian central banks are clinging on a while longer, until April 26, to "ensure a smooth transition", the European Central Bank said in a statement.

Medical technician Rolf, from the German town of Marburg, said he found the demise of the single currency's highest-denomination note "hard to accept".

Standing a stone's throw from Frankfurt's blue-and-yellow euro sculpture after a meeting in the city, the 61-year-old said he had made a point of paying for his car in 500s.

"I prefer using cash for large payments, it doesn't mean I'm involved in anything dodgy," Rolf said, declining to give his last name.

The ECB decision to end the note's issuance will lead to fewer and fewer circulating as commercial banks gradually return them to their countries' central banks, where they will be replaced by lower-denomination bills.

But anyone hoarding 500s under their mattress needn't worry, as all existing bills remain legal tender.

"They can continue to be used to spend or to save, and they will always retain their value," said ECB spokeswoman Eva Taylor.

The 500-euro bill accounted for just 2.3 per cent of all euro notes in circulation last month.

The 'Bin Laden'

The banknote's death warrant was signed in 2016 when the ECB formally ended its production over concerns it could "facilitate illegal activities" after research linked its use to money laundering, tax evasion and terrorism financing.

Sometimes dubbed the "Bin Laden", the note has proved a compact way to transport illicit money.

A million euros in 500-euro notes weighs just 2.2 kilogrammes (4.8 pounds), fitting easily into a laptop bag.

The same sum in $100 bills, the US currency's highest denomination, would weigh almost six times as much and require a much larger case.

While the plan to slowly kill off the 500 made few waves abroad, it sparked an emotional debate in Germany where many feared it was a prelude to abolishing cash altogether.

Among the fiercest opponents was Jens Weidmann, chief of Germany's powerful Bundesbank central bank, who said scrapping the note would do little to combat crime but could "damage trust" in the single currency.

Critics also said the move would make it more difficult and expensive for banks to physically store large amounts of cash in order to bypass negative interest rates.

The ECB's deposit rate currently stands at minus 0.4 per cent, meaning banks pay to park excess funds with the Frankfurt institution.

'Won't miss it'

When the euro was created two decades ago, Germany was keen to have a 500-euro bill as the closest equivalent to its cherished 1,000-Deutsche Mark banknote.

But even in Europe's top economy, where privacy is prized and cash is king, the 500 isn't any more widely used than in other countries, and won't be universally missed.

Suzanne Spenner, a Frankfurt-based nanny in her mid-fifties, said in her experience the slightly oversized note -- an awkward fit in most wallets -- &nbsp;was a pain to get rid of.

"They wouldn't take it in the shops. I have no need for it."

A 2017 Bundesbank study found that over 60 per cent of Germans have dealt with the 500-euro note at least once, often as a gift, a way of storing money or to pay for large purchases.

Across the euro region, the ECB said, "more people than often thought use high denomination banknotes".&nbsp;

In a major 2015-2016 ECB survey, almost 20 per cent of eurozone respondents said they had handled a 200- or 500-euro bill in the preceding year.

Lucia Bassing, owner of a high-end store selling beds and mattresses in Frankfurt, said while card payments were on the rise, it wasn't unusual for customers to pay for a 3,000-euro bed in 500s.

"I personally don't like carrying a 500-euro note on me so I won't miss it," said the 49-year-old.

"But I'm always happy to accept them from customers," she laughed. 
&nbsp;

As the ECB takes the final step in phasing out the 500-euro note, few are expected to mourn a bill favoured by criminals but rarely seen in daily life. Except perhaps in cash-loving Germany.

As the ECB takes the final step in phasing out the 500-euro note, few are expected to mourn a bill favoured by criminals but rarely seen in daily life. Except perhaps in cash-loving Germany. From Sunday, central banks in 17 of the 19 eurozone countries will stop issuing the violet-coloured banknotes. Only the German and Austrian central banks are clinging on a while longer, until April 26, to "ensure a smooth transition", the European Central Bank said in a statement. Medical technician Rolf, from the German town of Marburg, said he found the demise of the single currency's highest-denomination note "hard to accept". Standing a stone's throw from Frankfurt's blue-and-yellow euro sculpture after a meeting in the city, the 61-year-old said he had made a point of paying for his car in 500s. "I prefer using cash for large payments, it doesn't mean I'm involved in anything dodgy," Rolf said, declining to give his last name. The ECB decision to end the note's issuance will lead to fewer and fewer circulating as commercial banks gradually return them to their countries' central banks, where they will be replaced by lower-denomination bills. But anyone hoarding 500s under their mattress needn't worry, as all existing bills remain legal tender. "They can continue to be used to spend or to save, and they will always retain their value," said ECB spokeswoman Eva Taylor. The 500-euro bill accounted for just 2.3 per cent of all euro notes in circulation last month. The 'Bin Laden' The banknote's death warrant was signed in 2016 when the ECB formally ended its production over concerns it could "facilitate illegal activities" after research linked its use to money laundering, tax evasion and terrorism financing. Sometimes dubbed the "Bin Laden", the note has proved a compact way to transport illicit money. A million euros in 500-euro notes weighs just 2.2 kilogrammes (4.8 pounds), fitting easily into a laptop bag. The same sum in $100 bills, the US currency's highest denomination, would weigh almost six times as much and require a much larger case. While the plan to slowly kill off the 500 made few waves abroad, it sparked an emotional debate in Germany where many feared it was a prelude to abolishing cash altogether. Among the fiercest opponents was Jens Weidmann, chief of Germany's powerful Bundesbank central bank, who said scrapping the note would do little to combat crime but could "damage trust" in the single currency. Critics also said the move would make it more difficult and expensive for banks to physically store large amounts of cash in order to bypass negative interest rates. The ECB's deposit rate currently stands at minus 0.4 per cent, meaning banks pay to park excess funds with the Frankfurt institution. 'Won't miss it' When the euro was created two decades ago, Germany was keen to have a 500-euro bill as the closest equivalent to its cherished 1,000-Deutsche Mark banknote. But even in Europe's top economy, where privacy is prized and cash is king, the 500 isn't any more widely used than in other countries, and won't be universally missed. Suzanne Spenner, a Frankfurt-based nanny in her mid-fifties, said in her experience the slightly oversized note -- an awkward fit in most wallets -- was a pain to get rid of. "They wouldn't take it in the shops. I have no need for it." A 2017 Bundesbank study found that over 60 per cent of Germans have dealt with the 500-euro note at least once, often as a gift, a way of storing money or to pay for large purchases. Across the euro region, the ECB said, "more people than often thought use high denomination banknotes". In a major 2015-2016 ECB survey, almost 20 per cent of eurozone respondents said they had handled a 200- or 500-euro bill in the preceding year. Lucia Bassing, owner of a high-end store selling beds and mattresses in Frankfurt, said while card payments were on the rise, it wasn't unusual for customers to pay for a 3,000-euro bed in 500s. "I personally don't like carrying a 500-euro note on me so I won't miss it," said the 49-year-old. "But I'm always happy to accept them from customers," she laughed.

Mixed emotions in Germany as 500-euro note bows out

England all-rounder <a href="http://www.wionews.com/south-asia/ipl-ben-stokes-spurs-pune-supergiants-to-five-wicket-win-over-gujarat-lions-15136" target="_blank">Ben&nbsp;Stokes</a>&nbsp;was&nbsp;arrested early on Monday&nbsp;after&nbsp;an incident in&nbsp;Bristol&nbsp;and will miss the&nbsp;<a href="http://www.wionews.com/cricket/india-hammer-sri-lanka-by-168-runs-in-fourth-odi-19736" target="_blank">fourth&nbsp;one-day international</a> against West Indies, the England and Wales Cricket Board (ECB) said.

&quot;He was held overnight and released under investigation, without&nbsp;charge, late on Monday and will not join the team in London,&quot; the ECB said in a statement on Tuesday.

Opener Alex Hales, who was with&nbsp;Stokes&nbsp;on Sunday night, will also miss Wednesday&#39;s match at The Oval. The ECB said he had returned voluntarily to the city in the west of England to help police with their enquiries.

England took an unassailable 2-0 lead in the five-match series&nbsp;after&nbsp;winning the third game by 124 runs in&nbsp;Bristol&nbsp;on Sunday. The second game was washed&nbsp;out.

The news broke as the England selectors meet to finalise the squad, which will be announced on Wednesday, for the Ashes Tour to Australia.

The flame-haired&nbsp;Stokes, vice-captain of the England test team and one of world cricket&#39;s most destructive batsmen, would expect to be one of the first names on the list.

&quot;The selectors have been instructed to select the Ashes squad based on form and fitness as they normally would,&quot; said Andrew Strauss,&nbsp;England&#39;s&nbsp;director of cricket.

The ECB gave no further details of the incident, but the BBC said it happened in a city nightclub. Sky Sports Television reported that the 26-year-old player had injured his hand.

Avon and Somerset&#39;s police said they had been called to a disorder in the Clifton area in the early hours.

&quot;A 27-year-old man was found to have suffered facial injuries and was taken to the&nbsp;Bristol&nbsp;Royal Infirmary for treatment,&quot; they said in a statement.

&quot;A 26-year-old man was&nbsp;arrested on suspicion of causing actual bodily harm and has since been released under investigation.&quot;

England all-rounder Ben Stokes was arrested early on Monday after an incident in Bristol

England all-rounder Ben Stokes was arrested early on Monday after an incident in Bristol and will miss the fourth one-day international against West Indies, the England and Wales Cricket Board (ECB) said. "He was held overnight and released under investigation, without charge, late on Monday and will not join the team in London," the ECB said in a statement on Tuesday. Opener Alex Hales, who was with Stokes on Sunday night, will also miss Wednesday's match at The Oval. The ECB said he had returned voluntarily to the city in the west of England to help police with their enquiries. England took an unassailable 2-0 lead in the five-match series after winning the third game by 124 runs in Bristol on Sunday. The second game was washed out. The news broke as the England selectors meet to finalise the squad, which will be announced on Wednesday, for the Ashes Tour to Australia. The flame-haired Stokes, vice-captain of the England test team and one of world cricket's most destructive batsmen, would expect to be one of the first names on the list. "The selectors have been instructed to select the Ashes squad based on form and fitness as they normally would," said Andrew Strauss, England's director of cricket. The ECB gave no further details of the incident, but the BBC said it happened in a city nightclub. Sky Sports Television reported that the 26-year-old player had injured his hand. Avon and Somerset's police said they had been called to a disorder in the Clifton area in the early hours. "A 27-year-old man was found to have suffered facial injuries and was taken to the Bristol Royal Infirmary for treatment," they said in a statement. "A 26-year-old man was arrested on suspicion of causing actual bodily harm and has since been released under investigation."

England's Ben Stokes out of fourth ODI after arrest in Bristol

A new city-based Twenty20 tournament for English cricket intended to rival the Indian Premier League (IPL) and Australia&#39;s Big Bash moved a step closer on Monday following a key presentation by the sport&#39;s governing body.

In a break with 130 years of tradition, none of England&#39;s existing 18 counties is due to feature in the new event. Instead eight new teams, drawn from cities, would compete from 2020.

The proposed change would be one of the most sweeping ever introduced to the English game&#39;s structure, with the details set out for the counties by the England and Wales Cricket Board (ECB) in London on Monday.

&quot;We have to think differently if we are going to be successful in attracting family audiences to our competitions,&quot; said ECB chief executive Tom Harrison. &quot;This is about growth and creating something dramatically different for English cricket.&quot;

The counties are being asked to agree a change to the ECB constitution, which currently says each competition must be open to them all. In return, each county would receive a financial inducement of 1.3 million pounds ($1.63 million) annually for five years.

On Tuesday a full ECB board meeting will be asked to ratify the decision.

The ECB urged counties and supporters not to regard the change as a threat.

&quot;What we are doing here is future-proofing country cricket,&quot; said Harrison. &quot;I don&#39;t think it&#39;s so much a gamble, I think it&#39;s about looking into the future and saying what do we want our business and our game to look like.&quot;

Players draft

Eight as yet unnamed teams will play 36 games over a 38-day summer window in the season, with four home games per team. Eight of the games are planned for terrestrial television.

The tournament would feature a players draft, with each team having a squad of 15 that can include three overseas players.

The new franchises will be the subject of fierce dispute among counties each hoping to host lucrative games at their grounds. Potential new teams ventured in the British media include North London, South London, West, Red Rose, White Rose, Birmingham, Trent Bridge and South.

Scheduling also remains problematic in an already packed English season. The tournament may clash with Tests, meaning established England players may not feature.

&quot;We&#39;d like to find room to breath but it&#39;s difficult and ultimately we&#39;re a market that&#39;s hugely reliant on international cricket. A huge part of that diet is Test cricket,&quot; said Harrison, who added that the new tournament would not affect the existing T20 Blast competition among the counties but could &quot;absolutely&quot; rival the IPL.

However, former England captain Michael Vaughan said the new tournament will bring about a cultural shift in the game.

&quot;In ten years&#39; time cricket in this country could be very different,&quot; he wrote on the Daily Telegraph website (www.telegraph.co.uk).

&quot;No longer will international cricket be king. We have seen this already happen in Australia. This winter the Big Bash eclipsed, in terms of popularity and exposure, Australia&#39;s home series with Pakistan.&quot;

(Reuters)

In a break with 130 years of tradition, none of England's existing 18 counties are due to feature in the new event

A new city-based Twenty20 tournament for English cricket intended to rival the Indian Premier League (IPL) and Australia's Big Bash moved a step closer on Monday following a key presentation by the sport's governing body. In a break with 130 years of tradition, none of England's existing 18 counties is due to feature in the new event. Instead eight new teams, drawn from cities, would compete from 2020. The proposed change would be one of the most sweeping ever introduced to the English game's structure, with the details set out for the counties by the England and Wales Cricket Board (ECB) in London on Monday. "We have to think differently if we are going to be successful in attracting family audiences to our competitions," said ECB chief executive Tom Harrison. "This is about growth and creating something dramatically different for English cricket." The counties are being asked to agree a change to the ECB constitution, which currently says each competition must be open to them all. In return, each county would receive a financial inducement of 1.3 million pounds ($1.63 million) annually for five years. On Tuesday a full ECB board meeting will be asked to ratify the decision. The ECB urged counties and supporters not to regard the change as a threat. "What we are doing here is future-proofing country cricket," said Harrison. "I don't think it's so much a gamble, I think it's about looking into the future and saying what do we want our business and our game to look like." Players draft Eight as yet unnamed teams will play 36 games over a 38-day summer window in the season, with four home games per team. Eight of the games are planned for terrestrial television. The tournament would feature a players draft, with each team having a squad of 15 that can include three overseas players. The new franchises will be the subject of fierce dispute among counties each hoping to host lucrative games at their grounds. Potential new teams ventured in the British media include North London, South London, West, Red Rose, White Rose, Birmingham, Trent Bridge and South. Scheduling also remains problematic in an already packed English season. The tournament may clash with Tests, meaning established England players may not feature. "We'd like to find room to breath but it's difficult and ultimately we're a market that's hugely reliant on international cricket. A huge part of that diet is Test cricket," said Harrison, who added that the new tournament would not affect the existing T20 Blast competition among the counties but could "absolutely" rival the IPL. However, former England captain Michael Vaughan said the new tournament will bring about a cultural shift in the game. "In ten years' time cricket in this country could be very different," he wrote on the Daily Telegraph website (www.telegraph.co.uk). "No longer will international cricket be king. We have seen this already happen in Australia. This winter the Big Bash eclipsed, in terms of popularity and exposure, Australia's home series with Pakistan." (Reuters)

English cricket moves closer to setting up IPL rival

By Chander Shekhar Luthra

According to a trail of emails in possession of DNA, after being sacked by the Supreme court, Board of Control for Cricket in India&#39;s (BCCI) secretary Ajay Shirke made several calls to England and Wales Cricket Board&#39;s (ECB) president Giles Clarke trying to convince him to call off India tour.

In the emails, Giles writes that Shirke told him the England team may face security issues in India because of funds crunch in state cricket associations.

In the email sent on January 6, a copy of which is in possession of DNA, Giles asks BCCI chief executive officer Rahul Johri to clarify the ground situation following SC orders.

&quot;I have received calls from Mr Shirke who I understand is no longer the Honorary Secretary of BCCI. Can you please confirm to me that the England team will continue to be looked after by the BCCI in the usual fashion, with proper security, player daily allowance payments, hotel bills covered and the like, with transport organised at all times.

&quot;Obviously, it is entirely a matter for BCCI where matches are played, but please advise soonest that the schedule will be adhered to, or any changes,&quot; Giles wrote to Johri.

ECB was concerned about the security of its team for the One-Day International and T20I series as the English team returned to India on the same day.

With sacked BCCI president Anurag Thakur facing perjury and contempt of court charges, this issue might land Shirke in trouble.

Having received the mail from Giles, Johri replied apprising the ECB chief about the factual situation.

&quot;As you must have followed, the Supreme Court has delivered their verdict early this week, and we are expected to work with the court-appointed administrators, who will be appointed by the 19th of this month and till such time, we are making every effort to ensure that the matches live up to the expectations of all our stakeholders, including ECB.

&quot;We have been in touch with all the hosting centres and they have expressed confidence that the games will be managed successfully, just like always, and as on date, we do not anticipate any form of disruption to the series,&quot; Johri wrote in his reply.

Giles wrote again the following day (January 7) first by thanking Johri for the assurance, but he once again confirmed that Shirke had discussed team&#39;s security and safety of English players apart from other issues.

&quot;His (Shirke) concern was the BCCI and relevant association having funds and expertise to manage security and safety of our players, and transport, allowances, all usual issues for a tour,&quot; Giles sent a brief mail.

According to a source, the Lodha panel is aware of the entire conversation and will produce the email trail before the apex court on January 19, the day when set of administrators would take over BCCI functioning.

DNA has been reporting how BCCI&#39;s sacked and ineligible officials have been trying to derail reforms suggested by Justice Lodha Commission, following SC&#39;s January 2 interim orders.

In one such instance last week, former joint secretary Amitabh Chaudhary attempted to create a hurdle when the selection committee had gathered to pick the team for the ODI and the T20I series.

After the January 2 verdict, as many as 22 state associations adopted the Lodha panel recommendations.

MCA appoints Shirke

Meanwhile, Maharashtra Cricket Association&#39;s (MCA) managing committee last Friday appointed Shirke as its representative at the BCCI meetings.

This has been done despite knowing that Shirke has been sacked as board secretary by the SC and barred from holding any post in BCCI as well MCA after the January 2 order. Lodha panel, in all likelihood, is going to move the Court over his nomination as MCA representative for the BCCI meetings.

&nbsp;

(This report first appeared in DNA)

E-mail trail shows Ajay Shirke made several calls to England and Wales Cricket Board's president Giles Clarke

By Chander Shekhar Luthra According to a trail of emails in possession of DNA, after being sacked by the Supreme court, Board of Control for Cricket in India's (BCCI) secretary Ajay Shirke made several calls to England and Wales Cricket Board's (ECB) president Giles Clarke trying to convince him to call off India tour. In the emails, Giles writes that Shirke told him the England team may face security issues in India because of funds crunch in state cricket associations. In the email sent on January 6, a copy of which is in possession of DNA, Giles asks BCCI chief executive officer Rahul Johri to clarify the ground situation following SC orders. "I have received calls from Mr Shirke who I understand is no longer the Honorary Secretary of BCCI. Can you please confirm to me that the England team will continue to be looked after by the BCCI in the usual fashion, with proper security, player daily allowance payments, hotel bills covered and the like, with transport organised at all times. "Obviously, it is entirely a matter for BCCI where matches are played, but please advise soonest that the schedule will be adhered to, or any changes," Giles wrote to Johri. ECB was concerned about the security of its team for the One-Day International and T20I series as the English team returned to India on the same day. With sacked BCCI president Anurag Thakur facing perjury and contempt of court charges, this issue might land Shirke in trouble. Having received the mail from Giles, Johri replied apprising the ECB chief about the factual situation. "As you must have followed, the Supreme Court has delivered their verdict early this week, and we are expected to work with the court-appointed administrators, who will be appointed by the 19th of this month and till such time, we are making every effort to ensure that the matches live up to the expectations of all our stakeholders, including ECB. "We have been in touch with all the hosting centres and they have expressed confidence that the games will be managed successfully, just like always, and as on date, we do not anticipate any form of disruption to the series," Johri wrote in his reply. Giles wrote again the following day (January 7) first by thanking Johri for the assurance, but he once again confirmed that Shirke had discussed team's security and safety of English players apart from other issues. "His (Shirke) concern was the BCCI and relevant association having funds and expertise to manage security and safety of our players, and transport, allowances, all usual issues for a tour," Giles sent a brief mail. According to a source, the Lodha panel is aware of the entire conversation and will produce the email trail before the apex court on January 19, the day when set of administrators would take over BCCI functioning. DNA has been reporting how BCCI's sacked and ineligible officials have been trying to derail reforms suggested by Justice Lodha Commission, following SC's January 2 interim orders. In one such instance last week, former joint secretary Amitabh Chaudhary attempted to create a hurdle when the selection committee had gathered to pick the team for the ODI and the T20I series. After the January 2 verdict, as many as 22 state associations adopted the Lodha panel recommendations. MCA appoints Shirke Meanwhile, Maharashtra Cricket Association's (MCA) managing committee last Friday appointed Shirke as its representative at the BCCI meetings. This has been done despite knowing that Shirke has been sacked as board secretary by the SC and barred from holding any post in BCCI as well MCA after the January 2 order. Lodha panel, in all likelihood, is going to move the Court over his nomination as MCA representative for the BCCI meetings. (This report first appeared in DNA)

Cricket: Sacked BCCI secretary advised ECB to call off India tour

Eurozone consumer prices rose to a stronger 0.4 per cent in September, official data said, offering hope that a disputed programme by the ECB to stimulate the economy may be finally delivering.

Eurozone unemployment meanwhile was unchanged at 10.1 per cent in August, the Eurostat statistics agency said.

Both figures were in line with forecasts by analysts surveyed by financial services company Factset.

(AFP)

The figures offer some hope that a disputed programme by the ECB to stimulate the economy may be finally delivering

Eurozone consumer prices rose to a stronger 0.4 per cent in September, official data said, offering hope that a disputed programme by the ECB to stimulate the economy may be finally delivering. Eurozone unemployment meanwhile was unchanged at 10.1 per cent in August, the Eurostat statistics agency said. Both figures were in line with forecasts by analysts surveyed by financial services company Factset. (AFP)

Eurozone inflation rises to 0.4 per cent in September: Eurostat

Talks on Britain leaving the European Union must be carried out quickly to limit uncertainty, ECB Governing Council member Francois Villeroy de Galhau said today, adding London&#39;s financial centre was at risk of losing its prized &quot;EU passport&quot;. 
 
Banks based in London rely on a so-called EU passport to operate across the bloc&#39;s capital market unhindered. Some banks have said they would shift operations to the euro zone if Britain left the EU. 
 
The City of London will not be able to keep that passport if Britain leaves the EU&#39;s single market of trade in goods and services, Villeroy told France Inter radio. 
 
&quot;There is a precedent, it is the Norwegian model of European Economic Area, that would allow Britain to keep access to the single market but by committing to implement all EU rules,&quot; he said. 
 
&quot;It would be a bit paradoxical to leave the EU and apply all EU rules, but that is one solution if Britain wants to keep access to the single market.&quot; 
 
Central banks are efficiently dealing with the fallout of Thursday&#39;s UK vote to leave the EU, said Villeroy, who is also governor of the French central bank, adding: &quot;The euro is a solid currency.&quot; 
 
&quot;What happened on Thursday is bad news, first of all for Britain,&quot; he said. &quot;Of course there will be negative consequences for the European economy but there will be much more limited than the negative consequences all experts forecast for the UK economy.&quot; 
 
Brexit does not put the French economy at any risk of contracting in the next quarters, he said, confirming past growth forecasts of at least 1.4 per cent for 2016. 
 
(Reuters)

Some London-based banks have said they would shift operations to the euro zone if Britain left the EU

Talks on Britain leaving the European Union must be carried out quickly to limit uncertainty, ECB Governing Council member Francois Villeroy de Galhau said today, adding London's financial centre was at risk of losing its prized "EU passport". Banks based in London rely on a so-called EU passport to operate across the bloc's capital market unhindered. Some banks have said they would shift operations to the euro zone if Britain left the EU. The City of London will not be able to keep that passport if Britain leaves the EU's single market of trade in goods and services, Villeroy told France Inter radio. "There is a precedent, it is the Norwegian model of European Economic Area, that would allow Britain to keep access to the single market but by committing to implement all EU rules," he said. "It would be a bit paradoxical to leave the EU and apply all EU rules, but that is one solution if Britain wants to keep access to the single market." Central banks are efficiently dealing with the fallout of Thursday's UK vote to leave the EU, said Villeroy, who is also governor of the French central bank, adding: "The euro is a solid currency." "What happened on Thursday is bad news, first of all for Britain," he said. "Of course there will be negative consequences for the European economy but there will be much more limited than the negative consequences all experts forecast for the UK economy." Brexit does not put the French economy at any risk of contracting in the next quarters, he said, confirming past growth forecasts of at least 1.4 per cent for 2016. (Reuters)

ECB's Villeroy: Brexit talks must be quick, City of London at risk of losing 'EU passport'

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