The Australian share market has followed Wall street overnight and other global markets, with as much as $60 billion wiped in value throughout the day. The Reserve Bank of Australia has cut the forecast…
Italian Prime Minister Silvio Berlusconi’s reassurance to his parliamentary colleagues during a speech on Wednesday did little allay about fears of a crisis in Eurozone’s third-biggest economy. The Italian…
This year’s Economic Society of Australia conference saw a range of strong views expressed on what Australian policy makers have managed to get broadly right (carbon tax – hurrah!) and wrong (NBN – boo…
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…
Minnesotans have breathed a sigh of relief after the state’s Republican-led legislature signed off on a budget deal negotiated with Democratic Governor Mark Dayton, ending a three-week state government…
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…
For some time, it appeared that the severity of the global financial crisis had created a compelling “learning moment” that promised to return the world to a more civilised form of capitalism. Insufficient…
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…
Standard & Poor’s downgraded Greece’s sovereign debt rating by three notches on Monday, reflecting its view that it would be next to impossible to imagine a scenario where the country could restructure…
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…
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…