It has been a tumultuous week in the life and times of democracy in the Mediterranean. Seven days punctuated by joyous hope and its ugly opposite, sullen despair. The promising news came from Tunisia…
Slovakian Prime Minister Iveta Radikova’s government was a political victim of the continuing Euro debt crisis.
AAP
The Central European country of Slovakia has finally ratified the EU bailout fund – but not before its initial refusal caused a spill of the Slovakian government and highlighted the deep political divisions…
Jean-Claude Trichet will step down at ECB president in November.
AAP
As the Eurozone trembles at the prospect of Greece defaulting on its debt, the winds of change are at work at the European Central Bank (ECB). ECB President Jean-Claude Trichet will step down in November…
Euro banks have been urged to reinforce their balance sheets.
AAP
Kevin Davis, Australian Centre for Financial Studies
Eurozone leaders have moved to address liquidity fears, with the European Central Bank announcing new measures to head off a credit crunch. Britain has also announced quantitative easing measures. Outgoing…
Italian Prime Minister Silvio Berlusconi’s austerity measures are misdirected and too dramatic.
AAP
The move by international ratings agency Moody’s to cut Italy’s credit rating for the first time in two decades will do little to ease concerns about the Eurozone’s debt crisis, despite global markets…
European Commission President Jose Manuel Barroso says the FTT could raise 55 billion euros a year.
AAP
Momentum is building behind the global campaign to impose a tax on transactions in financial markets, with European Commission President Jose Manuel Barroso announcing plans to introduce the measure as…
Is a partial default one of the steps to recovery for Greece?
AAP
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…
Greeks protest the austerity measures put in place during the ongoing debt crisis.
AAP
Europe is in crisis once again and this time it is deadly serious. At stake is not only the survival of the European currency, but also of the entire integration project. Collapse of the Euro could trigger…
If Greece’s economy collapses, it could easily lead to a breakdown of civil order.
AAP
Global markets look set for a rough week amid new concerns that Greece could default on its massive debt. The Australian share market has spent most of the day down 3% after reports that Germany could…
Nicolas Sarkozy and Angela Merkel believe an FTT can help solve Europe’s debt woes.
AAP
French President Nicolas Sarkozy and German Chancellor Angela Merkel have announced a plan to impose a financial transactions tax (FTT) for the Eurozone, as part of an effort stem the bloc’s worsening…
While the US is finding its footing, China is looking to expand its global economic power by pushing for the renminbi importance in international transactions.
Fotopedia/Philip Roeland
The downgrading of US debt by Standard & Poor’s may sound the starting gun for an enduring rebalancing of global economic power. For decades, investors worldwide sought the safety of US government…
German chancellor Angela Merkel and French President Nicolas Sarkozy have outlined a rescue plan for the Eurozone.
AFP
German Chancellor Angela Merkel and French president Nicolas Sarkozy have overnight laid out plans for a stronger European integration that seeks to control deficit restrictions on member countries and…
The only way out of this crisis is to dishonour some of the debt that is weighing down the global economy.
AAP
The dramatic falls in share prices of Greek debt-laden French banks overnight highlights just how closely tied the current market chaos is to the world’s worsening debt woes. Market crashes like that of…