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Playing with fire? Michael Kappeler/EPA/AAP

The next card Yanis Varoufakis will play

Decades ago, before Yanis Varoufakis became the rock-star finance minister of Greece, he and I developed some game-theoretic models of macroeconomics. The gist of the work was this: for monetary authorities…
We all want governments to do more with our taxes, so should we be willing to pay more? Photo sourced from Shutterstock.com

Put your hand up if you’d like to pay more tax

The same deep forces that were behind the election result in Queensland are being played out in Canberra. The Australian people want, although most won’t admit it, higher taxes – either now or in the future…
Newly appointed Finance Minister Yannis Varoufakis arrives at the Presidential Palace to be sworn-in under Greece’s new government. Yannis Kolesidis/EPA/AAP

Yanis Varoufakis: from accidental economist to finance minister

Since 2009, the economic situation of Greece has helped expose the architecture and policy regime problems of the European Union and the eurozone. On Sunday the Greek electorate rebelled against the self-defeating…
No need for doom and gloom. Mauricio Macri

For Argentina, debt default is a solution not a problem

Unless you just returned from holiday in some ultra-remote region lacking newspapers, television or internet access (is there such a place?), you will be aware the government of Argentina has defaulted…
In the eye of the beholders, dollar dominance rules. peasap

Why dollar dominance is secure despite growth of global rivals

In imploring the world to be less dependent on the US dollar for international transactions, French finance minister Michel Sapin is expressing a wish that many of the euro’s creators hoped would already…
While the Coalition has criticised Australia’s public debt levels, it is the country’s private debt that is the big issue. Image sourced from www.shutterstock.com

The truth behind our ‘dangerous’ public debt levels

Liberal MP Andrew Robb has criticised the rise in public debt under the current Gillard government in a recent ABC radio interview. During the interview, Robb claimed growth in public debt was excessive…
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…
Spain’s Prime Minister, Mariano Rajoy, is under pressure to formally request a bailout from the European Central Bank. AAP

Spain at the crossroads: should it opt for a bailout?

Up until fairly recently, Spain was a story of economic success. It was an example of how the periphery of Europe was quickly catching up with the core. Between 1995 and 2007, Spanish real GDP grew at…
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…
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…
The EU summit is sure to be a testing time for President of the European Commission, Jose Manuel Barroso. AAP

Europe at the crossroads: why the EU summit is too crucial to fail

European leaders will meet tomorrow and Friday for the EU summit in Brussels, which has been billed as a “make or break” event that will determine not only the fortunes of the eurozone, but of the global…
Alexis Tsipras, leader of the Coalition of the Radical Left (Syriza) party, has proposed the cancellation of Greece’s agreements with the European Union and the IMF. AAP

With Europe at debt’s door, the future hinges on Greece’s election result

All eyes are on Greece this weekend for the second legislative election in five weeks. This is no ordinary election: the global implications of the outcome might be significant. Griffith University lecturer…
The G8’s communique embracing employment following the weekend’s meeting alters a 30 year focus on inflation.. AAP/White House

The G8’s cautious new direction away from an old enemy

The G8 leaders' cautious embrace of “growth and jobs” on the weekend has momentarily buoyed international markets, but significantly, altered a 30-year focus on inflation. For more than three decades…

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