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Analysis and Comment (37)

A carrier’s liability for damage, loss or delay of baggage is governed by a number of overarching international treaties. Adam Fagen

What to claim for lost, delayed or damaged bags on overseas flights

If you get on a plane and your baggage ends up being delayed, damaged or lost, who’s responsible: you or the airline? And what rules apply when you’re flying between different countries – even if you don’t…
Fears Australia may be hammered in China’s attempts to rebalance its economy, might be overstated. Image sourced from www.shutterstock.com

Weighing the risks for Australia as China rebalances

China’s leaders have been vocal in their support of a new growth model, one where consumption leads the way. Economic commentators fret about what this means for Australia. One view is that economic pain…
Does this mean Putin is the new Keynes? EPA

The BRICS plan for a new world order begins with a bank

Could history one day judge the latest BRICS summit as significant as the Bretton Woods conference of 1944? That is the hope of leaders from Brazil, Russia, India, China, and South Africa as they meet…
The IMF is wasting its time trying to convince central banks of a housing bubble. Shutterstock

Memo to the IMF: there is no housing bubble

Australia’s house prices are grossly overinflated – if you believe the International Monetary Fund’s recent analysis. It says radical policies are required to deflate this emerging housing bubble, such…
What is the true state of Australia’s economy? Image sourced from www.shutterstock.com

The state of Australia: the economy

In the lead up to the budget, the story of crisis has been hammered home, but there’s more to a country than its structural deficit. So how is Australia doing overall? In this special series, ten writers…
Chasing shadows. IMF managing director Christine Lagarde. IMF

The end of easy money: IMF versus the markets

Having clashed previously with governments over the wisdom of their austerity policies, few fireworks followed the publication of the International Monetary Fund’s World Economic Outlook on Tuesday. But…
Last year’s G-20 knees up. This year expect the taper, the IMF and corporate tax evasion to be the main themes. Flickr

We are all spillovers now: G20 finance meeting explained

Finance ministers and central bank governors from the Group of 20 major economies will meet in Sydney this week. A lot of troubled financial waters have flowed under the bridge since this group last met…
Smiling now: Christine Lagarde ahead of the annual conference that brings together IMF and World Bank governors. EPA/Shawn Thew

Should the IMF announce its intentions on economic policy?

The International Monetary Fund and the World Bank will today begin their marathon three-day annual meeting in Washington D.C. to review the last year and set out strategies for the future. And while it…
Greece: not just riots and unemployment. flikr/Imagaday

Europe’s latest investment opportunity … Greece

The IMF has conceded that mistakes were made in the way the first Greek bailout in May 2010 was handled. Its report suggests the need to refine the fund’s lending policies to accommodate for conditions…
Should the European Commission’s decision to waive the 3% deficit limit for three of the Euro’s largest economies be extended to fuel growth and jobs? AAP

Is Lord Keynes back in Brussels?

The European Union (or at least its periphery) is a big, sick patient that so far has been treated with robust injections of fiscal austerity. This seemed to be the right course of action to cure the “debt…
Time to start building, George. Lefteris Pitarakis/PA

IMF no longer BFF for Osborne

The International Monetary Fund’s annual investigation into the health of the UK economy makes ugly reading. The IMF points out that “per capita income remains 6% below its pre-crisis peak, making this…
A deal to help Cyprus raise €7 billion to qualify for another €10 billion bailout from the EU and IMF has been agreed to, but investors will feel the pain. EPA/Olivier Hoslet

Cyprus bank bailout plan: the experts respond

Uninsured savings over €100,000 deposited in a troubled Cypriot bank may be subject to a new levy, under a deal reached to save the Cyprus banking system. The European Union (EU) finance ministers, the…
In a recently released report, IMF chief economist Olivier Blanchard admitted that implementing austerity in Europe was a mistake. AAP

We were wrong: IMF report details the damage of austerity

In a rare volte-face, the International Monetary Fund this week admitted that it grossly underestimated the impact of the austerity regime it advised Europeans to adopt. A paper authored by IMF chief economist…
Spain’s Prime Minister, Mariano Rajoy, is under pressure to formally request a bailout from the European Central Bank. AAP

Spain at the crossroads: should it opt for a bailout?

Up until fairly recently, Spain was a story of economic success. It was an example of how the periphery of Europe was quickly catching up with the core. Between 1995 and 2007, Spanish real GDP grew at…
Greece’s New Democracy party leader Antonis Samaras has gained sufficient votes to form a coalition - but there is a long way to go for Greeks yet. AAP

Greece stays with austerity, but scenarios abound

Greece’s New Democracy leader Antonis Samaras begins the task of building a coalition after emerging as the front runner to form a government. Reports indicate New Democracy has narrowly beaten leftist…
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…
Spanish Prime Minister Mariano Rajoy: banks are bailed, but just a brief respite? AAP

Spanish bailout buys time for eurozone - but only a little

The positivity off the weekend’s news that Spain’s banks will receive rescue loans of up to 100 billion euros from eurozone finance ministers appears short-lived. Despite it being well-received in Asian…
IMF head Christine Lagarde sees some positives in global economic growth: but we should be wary of broad projections. AAP

Trouble lurks for Australia amid shallow economic forecasts

The recent economic forecasts of the IMF and OECD about prospects for economic growth remind me of an aphorism about the economist who drowned while crossing a river he estimated that was, on average…
Brazil, Russia, China, India and South Africa: the building BRICS of a new world order in economics and foreign aid. Blog do Planalto

BRICS and foreign aid: new challenges amid a changing economic order

On 29 March, the BRICS nations – Brazil, Russia, India, China and South Africa – will meet in New Delhi for their fourth annual summit. Representing 40% of the global population, 25% of global GDP, and…
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…
Celebrating: after being seen as a basket case for so long, Brazil’s economy is now powering. AAP

Brazil and Australia: the rise of the southern hemisphere powers

Few countries have been left unscathed by the global financial crisis and it seems that they are all situated in the southern hemisphere. Brazil and Australia are some of them. Recently, their economies…
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…
World Bank chief Robert Zoellick and IMF head Christine Lagarde have doubts about global growth. AAP

Spooking the markets: should financial leaders keep quiet during crises?

Global markets have tumbled again this week, following the downgrading of Italy’s debt rating and a series of negative comments from leaders of the world’s financial institutions. International Monetary…
The Dominique Strauss-Kahn case has polarised opinions in France. AAP

How the French are seeing the DSK saga

Since news of the controversial rape case involving Dominique Strauss-Kahn (quickly dubbed “Affaire DSK”) broke in May, the focus of the French media and French political class has been firmly fixed on…
Can the IMF’s new head, Christine Lagarde restore much-needed confidence in the euro? AAP

Will Christine Lagarde break the mould at the IMF?

Quelle surprise. French finance minister Christine Lagarde has been announced as the new managing director of the IMF, succeeding the beleaguered Dominique Strauss-Kahn. Like Strauss-Khan (known as ‘DSK…
Mexico’s Agustin Carstens is expected to lose out to France’s Christine Lagarde. AAP

A lost opportunity for IMF reform?

The International Monetary Fund executive board will complete interviews of the two leading candidates to replace Dominique Strauss-Kahn this week, with the aim of picking a new managing director by June…
Greece would be better off defaulting on its debt than languishing under tough austerity measures. AAP

A Greek debt default wouldn’t be a tragedy

A poll of international investors last month found that 85% expect Greece to default on its debt this year. As market expectations go, that is very high. Moody’s has since downgraded Greece’s already abysmal…
Christine Lagarde is the favourite to become the IMF’s new chief. AAP

Fund and games: loosening Europe’s grip on the IMF

Speculation last week that Paul Keating and Peter Costello could nominate for the top job at the International Monetary Fund (IMF) was a mere distraction, but the hoopla did manage to highlight a crucial…

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