Europe this week has voted for tough new fiscal rules aimed at reining in high deficits, as world economic leaders continue to grapple with solving the sovereign debt crisis. But not all measures have…
Just how can Europe grapple with sluggish economic growth?
AAP
When it comes to finding ways out of the European sovereign debt crisis, views appear to range widely. At last week’s World Economic Forum Martin Wolf, chief economic commentator for the Financial Times…
Economic policies – not credit ratings – will determine the future of the euro.
AAP
The decision by Standard and Poor’s to downgrade the debt of nine Eurozone countries last week, followed by the inevitable downgrade of the Eurozone rescue fund two days later, raises important questions…
Bankrupt former billionaire Sean Quinn accepted highly risky loans from Anglo Irish Bank before it collapsed.
AAP
The fall of the “Mighty” Sean Quinn from Ireland’s (and Forbes-listed) richest man to one of the world’s most indebted individuals is perhaps the biggest story of Ireland’s boom-to-bust recent economic…
French leftists protest after Standard & Poor’s downgraded the country’s debt on Friday.
AAP
Standard & Poor’s decision to downgrade the credit ratings of nine Eurozone countries, including Austria, France, Italy, Spain, and Portugal, is another symptom of the contagious and vicious debt cycle…
Spain, Italy, Portugal and Greece face serious problems without EU-wide financial reform.
AAP
Every year, on the evening of December 31, the President of the Republic of Italy addresses the Italian people with a video message broadcast by all the major radio and television networks. This “end of…
British Prime Minister David Cameron had no choice but to reject the EU plan and was right to do so.
AAP
Last week’s EU Brussels summit produced a tentative fiscal compact, a mild boost of the European Financial Stability Facility’s (EFSF) reserves to €500 billion, and an acrimonious split between Britain…
Merkel, Sarkozy and Monti must accept drastic fiscal reforms if they want to save the Eurozone.
The announcement by credit ratings agency Standard & Poor’s overnight that it could downgrade the triple-A rating of Europe’s debt rescue fund has battered market confidence, which had been buoyed…
Banks increasingly choose not to follow the lead of Reserve Bank of Australia Governor Glenn Stevens on interest rates.
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Kevin Davis, Australian Centre for Financial Studies e Josh Fear, University of Canberra
As Reserve Bank of Australia board members gather today to ponder Australia’s cash rate, financial markets are having a bet each way the RBA will cut rates amid the release of data reflecting a softening…
Despite happy appearances, the two leaders disagree the way out of the Eurozone crisis.
AAP
What could be a decisive week for Europe and its common currency has begun, with the announcement of a package of fiscal austerity measures in Italy. Markets, European partners, and – perhaps above all…
Bank of England Governor Mervyn King has warned UK banks to prepare for the worst.
Bank of England Governor Mervyn King has called on British banks to lift their capital reserves, hold off on paying dividends and cut bonuses amid growing fears about Europe’s economic stability. King’s…
Markets responded positively to the central banks’ credit lifeline, but serious problems lie ahead.
AAP
For European banks threatened by a looming credit squeeze, the US Federal Reserve’s move to cut the cost of obtaining US dollars rescue hasn’t come a moment too soon. The Fed’s decision to engage in quantitative…
Treasurer Wayne Swan is maintaining a slimmed down surplus for 2012-2013 - but storm clouds are rolling over the global economy.
AAP
The Federal Government is still aiming to deliver a slimmed down surplus next financial year, but has downgraded economic growth forecasts amid a slowing world economy and news that Europe may already…
The European Central Bank needs to start buying more bonds from Eurozone countries.
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The departure of Silvio Berlusconi does not seem to have eased the pressure on Italy, with reports suggesting the International Monetary Fund is reading a 600 billion euro emergency bailout for the Eurozone’s…
Westpac chief Gail Kelly has warned about “the contagion effect” from Europe.
Kevin Davis, Australian Centre for Financial Studies
Westpac chief executive Gail Kelly this week warned about Australian banks are vulnerable to “the contagion effect” of Europe’s ongoing financial woes, after the Commonwealth Bank of Australia delayed…
The eurozone crisis is moving beyond “spendthrift” countries in need of rescue, to the rescuers themselves.
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Harald Sander, Cologne University of Applied Sciences (CUAS)
Early this week, sovereign bonds spreads for France and other Euro-core countries peaked. Around noon on Tuesday the spreads on French and Austrian 10-year government bonds exceeded the German bund rate…
Angela Merkel and Nicolas Sarkozy must take drastic steps to maintain the legitimacy of EU institutions.
AAP
The European Union is in crisis – yet again. If you enter “Europe in crisis” into Google, more than 655 million entries pop up. Europe’s current problems are being described as a Euro crisis – it is a…
Former EU commissioner Mario Monti will form government in Italy as Silvio Berlusconi exits.
AAP
Is the Eurozone about to crash and burn, leaving Club Med in its wake? Not so fast. Reports have suggested that French President Nicolas Sarkozy and German Chancellor Angela Merkel have discussed a strategic…
The Irish have seen their booming economy implode. Is it a good lesson for Australia?
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When Treasurer Wayne Swan finger-wagged at the recent set of G20 events, scolding his European colleagues and telling them to get their act together, he had more of a point than perhaps the Australian…
Italy’s debt woes will not disappear after Berlusconi finally steps down.
AAP
Global markets have tumbled in the past 24 hours on fears over Italy’s worsening debt crisis, with media reports that Germany and France have begun talks to break up the Eurozone if the monetary union’s…