Articles on Eurozone

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Finance minister, Yanis Varoufakis, is struggling to make his case to Greece’s creditors in Germany. EPA/Kay Nietfield

Syriza must face facts and take responsibility for Greece’s debt

Tired of dealing with the consequences of austerity, Greece appears to be run by a party inspired by the politics of Homer. Not the Greek Homer, mind you, I refer to the Springfieldian. Some may recall…
Playing with fire? Michael Kappeler/EPA/AAP

The next card Yanis Varoufakis will play

Decades ago, before Yanis Varoufakis became the rock-star finance minister of Greece, he and I developed some game-theoretic models of macroeconomics. The gist of the work was this: for monetary authorities…
Looming large: the ECB headquarters in Frankfurt, Germany. Noppasin/Shutterstock

As its power grows, is the ECB overstepping its mandate?

The European Central Bank (ECB) symbolises the strange mix of politics and technocracy that marks EU governance. The bank was pushed to centre stage by the eurozone debt crisis and the unwillingness or…
The drop in oil prices, and consequently fuel costs, is driving down inflation and helping the Australian economy. Andy Rain/EPA/AAP

Interest rates decision could boil down to oil: RBA Shadow Board

The CAMA RBA Shadow Board is a project by the Centre for Applied Macroeconomic Analysis, based at the ANU, which asks industry and academic economists what interest rate the Reserve Bank of Australia should…
Newly appointed Finance Minister Yannis Varoufakis arrives at the Presidential Palace to be sworn-in under Greece’s new government. Yannis Kolesidis/EPA/AAP

Yanis Varoufakis: from accidental economist to finance minister

Since 2009, the economic situation of Greece has helped expose the architecture and policy regime problems of the European Union and the eurozone. On Sunday the Greek electorate rebelled against the self-defeating…
European markets have so far reacted cautiously to Greek anti-austerity party win. EPA/Juan Carlos Hidalgo

Greece: a collision with lenders would be disastrous for growth

Syriza, in choosing to enter into coalition with the Independent Greeks, is sending a clear message to the Eurozone’s leaders: it is intent on challenging Greece’s debt repayments. So, some form of challenge…
The Greek Harry Potter? Sotiris Barbarousis/EPA

Explainer: why the Greek election is so important

This Greek election is the most important in recent memory. It appears Syriza has won by a large margin, ending four decades of two-party rule in Greece. Since 2010 – and as a result of austerity measures…
Storm in a teacup? Theophilos Papadopoulos

Why a Syriza win is unlikely to cause a Grexit

The polls are pointing to an election victory for the Syriza party in Greece’s election on January 25. The radical left party’s popularity comes from its opposition to the austerity policies that have…
German concerns about the European Central Bank’s impending quantitative easing program might be misplaced. AAP/EPA/Maurizio Gambarini

As Eurozone squares up to quantitative easing, are fears justified?

The European Central Bank is due to decide whether and how to undertake quantitative easing (QE) via large-scale purchases of government debt on secondary markets. For Germany - as the Eurozone’s largest…
Now is the winter of our discount cents. Kosala Bandara

Soaring Swiss franc causes havoc on currency markets

In one of the most remarkable days in the foreign exchange market for at least 20 years, the Swiss franc rose by an astonishing 30% against the euro in a mere five minutes. This is as a result of the announcement…
Alexis Tsipras is on track to win the Greek election. thierry ehrmann

Why are European leaders so afraid of Greece’s Syriza party?

The calling of a snap election in Greece for January 25 has been met with great concern in political circles, prompted direct interventions by top European officials and alarmed markets and credit rating…

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