Articles on Sovereign debt

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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…
Satyajit Das: “I think the democratic process and the politics of the world relies on a very fragile construct. One is trust. And trust relies on economic growth.” Supplied

Satyajit Das: Europe will have far‑reaching consequences for everybody

Welcome to the latest in our In Conversation series, between risk analyst and author Satyajit Das and Kevin Davis, Research Director of the Australian Centre for Financial Studies. Satyajit Das is an internationally-known…
Getting it off her chest: a protester reinforces her message at the World Economic Forum at Davos in January. AAP

The future is looking backward, at least according to Davos

When the great and the good dutifully traipsed to the Swiss Alps for the Annual Meeting of the World Economic Forum in Davos in late January, they were equally dutifully followed by hordes of media and…
Protests rocked Athens as Greek legislators voted to accept a tough austerity package. So what now for the Greek people? AAP

Austerity in, Euro out – is this Greece’s future?

As Greek politicians approved a tough austerity package amid fierce protests, one question dominates: is an orderly exit from the Eurozone available for Greece? And just what might be the consequences…
Eurozone countries must toe the fiscal line, or face the consequences under a new treaty signed this week. AAP

Fiscal miscreants to face sanctions, as Greek deal teeters

Europe this week has voted for tough new fiscal rules aimed at reining in high deficits, as world economic leaders continue to grapple with solving the sovereign debt crisis. But not all measures have…
Bankrupt former billionaire Sean Quinn accepted highly risky loans from Anglo Irish Bank before it collapsed. AAP

Fallen billionaire Sean Quinn embodies Ireland’s boom to bust

The fall of the “Mighty” Sean Quinn from Ireland’s (and Forbes-listed) richest man to one of the world’s most indebted individuals is perhaps the biggest story of Ireland’s boom-to-bust recent economic…
French leftists protest after Standard & Poor’s downgraded the country’s debt on Friday. AAP

After France’s downgrade, Europe’s debt cycle looks hard to break

Standard & Poor’s decision to downgrade the credit ratings of nine Eurozone countries, including Austria, France, Italy, Spain, and Portugal, is another symptom of the contagious and vicious debt cycle…
British Prime Minister David Cameron had no choice but to reject the EU plan and was right to do so. AAP

Why Cameron can’t afford to get fiscal with the EU

Last week’s EU Brussels summit produced a tentative fiscal compact, a mild boost of the European Financial Stability Facility’s (EFSF) reserves to €500 billion, and an acrimonious split between Britain…
Banks increasingly choose not to follow the lead of Reserve Bank of Australia Governor Glenn Stevens on interest rates. AAP

Should banks be compelled to pass on interest rate cuts?

As Reserve Bank of Australia board members gather today to ponder Australia’s cash rate, financial markets are having a bet each way the RBA will cut rates amid the release of data reflecting a softening…
Despite happy appearances, the two leaders disagree the way out of the Eurozone crisis. AAP

A make‑or‑break week: Can Sarkozy and Merkel save the euro?

What could be a decisive week for Europe and its common currency has begun, with the announcement of a package of fiscal austerity measures in Italy. Markets, European partners, and – perhaps above all…
Treasurer Wayne Swan is maintaining a slimmed down surplus for 2012-2013 - but storm clouds are rolling over the global economy. AAP

Slimmed down surplus as Swan unveils mid‑year budget: experts respond

The Federal Government is still aiming to deliver a slimmed down surplus next financial year, but has downgraded economic growth forecasts amid a slowing world economy and news that Europe may already…

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