Global markets have tumbled again this week, following the downgrading of Italy’s debt rating and a series of negative comments from leaders of the world’s financial institutions. International Monetary…
Italy’s Silvio Berlusconi wants closer ties with China - but Europe shouldn’t believe this will save the EU.
AAP
Earlier this week, reports emerged that Italian finance officials had held talks with their Chinese counterparts regarding the possibility of China making significant purchases of Italy’s public debt…
The British banking sector is facing a major shakeup in the wake of the global crisis.
AAP
Major proposals designed to reform Britain’s banking sector after its spectacular 2008 crash have been described as one of the biggest shakeups in a generation. But they are likely be inadequate for a…
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…
China may appear strong now compared to the troubled US, but still lags behind in technology and per-capita wealth.
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Europe is on the decline. The US has its own problems. Meanwhile, China and India appear strong. But is it too soon pick the next global superpower? In this Q+A, Professor Geoffrey Garrett, CEO of the…
Unless the US can address structural problems, there no end in sight to this financial crisis.
AAP
Global share markets were faltering even before the decision by Standard & Poor’s to downgrade the US government’s debt. The slump in share markets over the past week reflects a weaker outlook for…
How safe is your nest egg from share market fluctuations?
Flickr/peregrinari
Think the share market volatility doesn’t affect you? Guess again. With almost 60% of Australian superannuation funds invested in shares, anyone paying compulsory super contributions has something to lose…
The share market is often driven back into the black by canny investors looking for a bargain.
AAP
After falling by almost 20% in week-long sell-off, the Australian share market has bounced back and began trade today up more than 3.5%. The market’s recovery follows a strong comeback on Wall Street overnight…
As a new global financial crisis looms, Australia shouldn’t overestimate its dependence on China.
AAP
Amidst the widening global financial turmoil, a strong Chinese economy is certainly one positive for the Australian economy. But should we believe it is only factor that will save the day? The answer is…
Global markets have fallen dramatically over fear of a US double dip recession and global downturn.
AAP
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…
Silvio Berlusconi has blamed international economic conditions for Italy’s worsening crisis.
AAP
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…
Boom to bailout: Ireland’s economic implosion shows the consequences of unfettered policy.
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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…
Nicolas Sarkozy, Christine Lagarde and Angela Merkel share a joke at Thursday’s Greece bailout talks.
AAP
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…
Thursday’s make-or-break EU finance ministers meeting looks set to be a highly charged affair.
AAP
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…
US House Speaker John Boehner wants government programs cut: but is austerity politics the answer?
AAP
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…
Mexico’s Agustin Carstens is expected to lose out to France’s Christine Lagarde.
AAP
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…
Despite attempts at regulatory reform, ratings agencies still act with little threat of litigation.
AAP
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…
Greece would be better off defaulting on its debt than languishing under tough austerity measures.
AAP
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…