Articles on Eurozone

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If Greece’s economy collapses, it could easily lead to a breakdown of civil order. AAP

What will happen if Greece defaults?

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…
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

How the West’s money problems could hasten global power shift

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

PIIGs might fly - is a single economic government the way forward for Europe?

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

Ireland, Greece … France? Accepting default is Europe’s only option

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…

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