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Analysis and Comment (13)

Alexis Tsipras, leader of the Coalition of the Radical Left (Syriza) party, has proposed the cancellation of Greece’s agreements with the European Union and the IMF. Alexis Tsipras, leader of the Coalition of the Radical Left (Syriza) party, has proposed the cancellation of Greece’s agreements with the European Union and the IMF. AAP

With Europe at debt’s door, the future hinges on Greece’s election result

All eyes are on Greece this weekend for the second legislative election in five weeks. This is no ordinary election: the global implications of the outcome might be significant. Griffith University lecturer…
Greek citizens took their frustration out on the ballot box this weekend. Greek citizens took their frustration out on the ballot box this weekend. EPA/Orestis Panagiotou

Elections in Europe an assault on the austerity doctrine

The answer, even though they see over and over again that austerity leads to collapse of the economy, the answer over and over [from politicians] is more austerity. – Joseph Stiglitz, Asian Financial Forum…
The audit profession has been blamed for contributing to major corporate collapses, the global financial crisis and most recently, the Greek debt crisis. The audit profession has been blamed for contributing to major corporate collapses, the global financial crisis and most recently, the Greek debt crisis. AAP

Europe considers tighter audit reins, but Australian experience indicates need to be wary

The audit profession has received consistently bad press in recent years. Audit independence, or rather the lack of it, has been blamed as a contributing factor in some of the major corporate collapses…
Satyajit Das: “I think the democratic process and the politics of the world relies on a very fragile construct. One is trust. And trust relies on economic growth.” Satyajit Das: “I think the democratic process and the politics of the world relies on a very fragile construct. One is trust. And trust relies on economic growth.” Supplied

Satyajit Das: Europe will have far-reaching consequences for everybody

Welcome to the latest in our In Conversation series, between risk analyst and author Satyajit Das and Kevin Davis, Research Director of the Australian Centre for Financial Studies. Satyajit Das is an internationally-known…
Not so funny…. Portugal is the next vulnerable Euro nation, but it doesn’t fit the German-favoured critique of a profligate country unwilling to undertake reforms. Not so funny…. Portugal is the next vulnerable Euro nation, but it doesn’t fit the German-favoured critique of a profligate country unwilling to undertake reforms. AAP

After the Greek rescue package: will Portugal be the next to fall?

Greece is rescued, for now…maybe. Perhaps it’s time to move on to the next basket case. So, which of the PIIGS is the next Greece? For the moment, Portugal looks to be the front-runner. The country’s public-debt-to-GDP…
Italian Prime Minister Silvio Berlusconi has said he will resign after losing parliamentary support. Italian Prime Minister Silvio Berlusconi has said he will resign after losing parliamentary support. AAP

As Berlusconi exits, is democratic reform the next real step for Europe?

Italian Prime Minister Silvio Berlusconi appears set to become the largest political casualty so far of the Eurozone’s continuing inability to resolve its massive sovereign debt problems. Berlusconi, who…
The Greek Prime MInister is on the way out, but the new government has a lot of work still to do. The Greek Prime MInister is on the way out, but the new government has a lot of work still to do. AFP/Aris Messinis

New PM for Greece but will a new government save the country from the debt crisis?

The Greek Prime Minister will resign in an effort to save the bailout deal agreed by the European Union to dig the country out of its debt crisis. George Papandreou agreed to go following talks with the…
A 40% public hospital budget cut has restricted access to care. A 40% public hospital budget cut has restricted access to care. AAP

Greece’s financial crisis takes toll on the nation’s health

Another round of violent protests erupted in Greece last week, following the latest austerity cuts to public service jobs and pay. Meanwhile, the creeping consequences of austerity measures are beginning…
Is a partial default one of the steps to recovery for Greece? Is a partial default one of the steps to recovery for Greece? AAP

Defend or default? It’s the three trillion euro question

Will Greece default and exit the Eurozone? The best-case scenario is a managed, orderly, partial default with the European Financial Stability Facility (EFSF), a fund created in 2010 to manage Eurozone…
Nicolas Sarkozy, Christine Lagarde and Angela Merkel share a joke at Thursday’s Greece bailout talks. Nicolas Sarkozy, Christine Lagarde and Angela Merkel share a joke at Thursday’s Greece bailout talks. AAP

Greece is safe for now; but could Italy push Europe over the edge?

European leaders signed off on a second, 109 billion euro bailout for Greece overnight, while also establishing what has been described as an “infant monetary fund” to intervene if the bloc’s sovereign…
Thursday’s make-or-break EU finance ministers meeting looks set to be a highly charged affair. Thursday’s make-or-break EU finance ministers meeting looks set to be a highly charged affair. AAP

Greece can’t be quarantined, so Europe will keep on giving it medicine

As Margaret Thatcher’s trade minister in the 1980s, Norman Tebbit devoted much of his time to dealing with the European Community – the precursor to the European Union. Routinely, at meetings in Brussels…