Sovereign debt, crises and default have been regular features of the Argentine economy for years – but the latest debt crisis, involving the government and the so-called “vulture funds”, has thrown up…
Sovereign debt is a crucial lubricant for growth, especially among emerging nations, and so it is equally crucial that we can ensure the interminable row over Argentina’s default is not repeated. Measures…
The Argentine government recently defaulted on its external debt. The country’s debt issues had been building up for some time and then, just over ten years ago the country’s newly-elected president, Néstor…
Unless you just returned from holiday in some ultra-remote region lacking newspapers, television or internet access (is there such a place?), you will be aware the government of Argentina has defaulted…
In the eye of the beholders, dollar dominance rules.
http://www.welovecostarica.com/watching/
In imploring the world to be less dependent on the US dollar for international transactions, French finance minister Michel Sapin is expressing a wish that many of the euro’s creators hoped would already…
A missed debt repayment this week means Argentina further extends its exclusion from the world’s capital markets. The country must find the money to repay all its creditors, or agree to a restructuring…
Europe’s economies are still stuck in the mud.
EPA
What do the latest growth figures teach us about Europe? First, the overall growth performance of the European Union is worse and more fragmented than expected. GDP in vulnerable countries such as Greece…
While the Coalition has criticised Australia’s public debt levels, it is the country’s private debt that is the big issue.
Image sourced from www.shutterstock.com
Liberal MP Andrew Robb has criticised the rise in public debt under the current Gillard government in a recent ABC radio interview. During the interview, Robb claimed growth in public debt was excessive…
With the implementation of the Single Supervisory Mechanism, European Central Bank chief Mario Draghi has taken a major step towards greater financial integration in the Eurozone.
AAP
Last week was one of mixed fortunes for the Eurozone. The week began badly with news that Italy’s Prime Minister Mario Monti was resigning due to Silvio Berlusconi’s withdrawal of parliamentary support…
Spain’s Prime Minister, Mariano Rajoy, is under pressure to formally request a bailout from the European Central Bank.
AAP
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…
Protesters outside the Federal Constitutional Court of Germany express their anger over Germany’s support of the ECB’s debt buy-back scheme.
AAP
Harald Sander, Cologne University of Applied Sciences (CUAS)
The past few days have seen economic crisis management — if not the political landscape in the Eurozone — change fundamentally. On September 6, the ECB announced it would buy-back unlimited government…
European Central Bank President Mario Draghi announced that the ECB will buy back bonds on the secondary market in a bid to curb the debt crisis.
AAP
Yesterday, the European Central Bank’s president, Mario Draghi, unveiled the European Central Bank’s rescue plan for the Eurozone. Mr Draghi said that the ECB is now prepared to buy sovereign bonds of…
Germany’s triple A rating has been given a negative outlook by ratings agency Moody’s, amid ongoing woes in Greece, Spain and Italy.
AAP
On 23 July, the rating agency Moody’s put the triple A debt of Germany, the Netherlands, and Luxembourg on a negative outlook. The day after, the outlook on the European Financial Stability Fund was also…
Will super Mario Draghi, President of the European Central Bank, come to the Eurozone’s rescue?
AAP
Today Eurozone leaders will meet in Brussels. On the agenda is nothing less than the survival of the euro. Officially, it is about Spain: Spain’s economic and financial woes show the urgency. Moody’s drastically…
The EU summit is sure to be a testing time for President of the European Commission, Jose Manuel Barroso.
AAP
European leaders will meet tomorrow and Friday for the EU summit in Brussels, which has been billed as a “make or break” event that will determine not only the fortunes of the eurozone, but of the global…
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
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…
The G8’s communique embracing employment following the weekend’s meeting alters a 30 year focus on inflation..
AAP/White House
The G8 leaders’ cautious embrace of “growth and jobs” on the weekend has momentarily buoyed international markets, but significantly, altered a 30-year focus on inflation. For more than three decades…
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
Kevin Davis, Australian Centre for Financial Studies
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…
Getting it off her chest: a protester reinforces her message at the World Economic Forum at Davos in January.
AAP
When the great and the good dutifully traipsed to the Swiss Alps for the Annual Meeting of the World Economic Forum in Davos in late January, they were equally dutifully followed by hordes of media and…
Protests rocked Athens as Greek legislators voted to accept a tough austerity package. So what now for the Greek people?
AAP
As Greek politicians approved a tough austerity package amid fierce protests, one question dominates: is an orderly exit from the Eurozone available for Greece? And just what might be the consequences…