Blaming the troika for the Greek defaut this week isn’t the full story. The problem here is that the eurozone is not the main reason for the Greek crisis.
A famed game theory parable involving mutually assured destruction explains the Greek debt crisis and could explain the outcome of the Greek referendum this Sunday.
With the ECB freezing the level of emergency liquidity assistance it is providing to Greek banks, the nightmare scenario for Greece is already beginning to unfold.
A call to break with the leadership of Greece’s ruling party has highlighted the futility of debt-led austerity and the burden it places on people on the wrong side of a banker’s bad bet.
The expected departure of Ngozi Okonjo-Iweala as Nigeria’s finance minister will leave Nigeria and sub-Saharan Africa without a significant voice in the IMF and World Bank.
Helen Westerman, The Conversation and Sunanda Creagh, The Conversation
A new IMF report predicts a crackdown on cheap credit in China will help reduce China’s real GDP growth rate from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities.
A year after the Maidan revolution of 2014, Ukraine is at a critical juncture. The conflict with Russia has been escalating. Estimates of casualties exceed 5,000, with some reports putting the number at…
The nightmare for Cyprus started in March 2013. The country’s banking sector faced a sudden squeeze. The two biggest players – Bank of Cyprus and Marfin Laiki Bank – were in danger of a collapse which…
This week we have witnessed a plunge in the price of oil and the astonishing demise of the ruble. These events provide the basis for a great series of conspiracy theories, the type that readily find an…
The G20 leaders have reaffirmed a commitment to raise global growth, saying if more than 800 agreed measures are “fully implemented”, GDP will grow by an additional 2.1% by 2018, adding more than US$2…
In an influential speech in 2005, then-US deputy secretary of state Robert Zoellick called on China to become a “responsible stakeholder” in the international community. To optimists, China’s recent efforts…
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…
The long and slow-stunted recovery of the eurozone economies is a major source of concern for the IMF and international bankers. Six years after the collapse of Lehman Brothers signalled the onset of the…