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Now is the winter of our discount cents. Kosala Bandara

Soaring Swiss franc causes havoc on currency markets

In one of the most remarkable days in the foreign exchange market for at least 20 years, the Swiss franc rose by an astonishing 30% against the euro in a mere five minutes. This is as a result of the announcement…
European Central Bank President Mario Draghi has called for fiscal policy to lead the way in ending the Eurozone recession. AAP/EPA/ARNE DEDERT

Draghi calls for spending to rescue Euro – but will governments do ‘whatever it takes’?

In July 2012 European Central Bank president Mario Draghi famously announced that the ECB would do “whatever it takes” to rescue the Euro. And he added: “Believe me, it will be enough.” In fact, it has…
“The euro has backfired: it is holding back growth and job creation; and it is dividing Europe.” Stefan Rousseau/PA

Nobel laureate: tough choices for a troubled euro

One of the most exciting things about working at the LSE is that we get to hear some of the world’s top thinkers and policymakers. One occasion that I recall vividly is the visit of two great Europeans…
Where now for European banks? MPD01605

This is how the EU can fix its failed banks

The EU has made progress on the construction of a banking union, by agreeing on common rules for dealing with failed banks. The downside is that these rules won’t kick in until 2015: the Eurozone faces…
Tough times in the zone: the euro is holding out for a hero. Rock Cohen/Flickr

The European banking union as a matter of equality

Academics, politicians, international economists and central bankers alike talk and talk about the theoretical benefits of a European banking union. But these reflections go far beyond the current, real…
A deal to help Cyprus raise €7 billion to qualify for another €10 billion bailout from the EU and IMF has been agreed to, but investors will feel the pain. EPA/Olivier Hoslet

Cyprus bank bailout plan: the experts respond

Uninsured savings over €100,000 deposited in a troubled Cypriot bank may be subject to a new levy, under a deal reached to save the Cyprus banking system. The European Union (EU) finance ministers, the…
With the implementation of the Single Supervisory Mechanism, European Central Bank chief Mario Draghi has taken a major step towards greater financial integration in the Eurozone. AAP

EU banking union is a decisive step towards saving the euro

Last week was one of mixed fortunes for the Eurozone. The week began badly with news that Italy’s Prime Minister Mario Monti was resigning due to Silvio Berlusconi’s withdrawal of parliamentary support…
Protesters outside the Federal Constitutional Court of Germany express their anger over Germany’s support of the ECB’s debt buy-back scheme. AAP

Balancing stability and sovereignty will prove challenging for the Eurozone

The past few days have seen economic crisis management — if not the political landscape in the Eurozone — change fundamentally. On September 6, the ECB announced it would buy-back unlimited government…
European Central Bank President Mario Draghi announced that the ECB will buy back bonds on the secondary market in a bid to curb the debt crisis. AAP

Bonds to the rescue: ECB reveals its Eurozone rescue plan, but will it be enough?

Yesterday, the European Central Bank’s president, Mario Draghi, unveiled the European Central Bank’s rescue plan for the Eurozone. Mr Draghi said that the ECB is now prepared to buy sovereign bonds of…
The Reserve Bank of Australia is expected to keep the cash rates unchanged tomorrow: but prominent economists say the case for a cut may be firming. AAP

Hold ‘em: but case for interest rate cut strengthens

CAMA’s Shadow Board, which gives its views ahead of the decision by the Reserve Bank of Australia, continues to support the current setting of the cash rate at 3.5%. But economists are seeing a greater…
Will super Mario Draghi, President of the European Central Bank, come to the Eurozone’s rescue? AAP

It will take courage to end the Eurozone crisis

Today Eurozone leaders will meet in Brussels. On the agenda is nothing less than the survival of the euro. Officially, it is about Spain: Spain’s economic and financial woes show the urgency. Moody’s drastically…

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