Blaming the troika for the Greek defaut this week isn’t the full story. The problem here is that the eurozone is not the main reason for the Greek crisis.
Greek voters have to choose between unfathomable consequences or ongoing misery. Some choice.
AAP/EPA/Alexandros Vlachos
A famed game theory parable involving mutually assured destruction explains the Greek debt crisis and could explain the outcome of the Greek referendum this Sunday.
With the ECB freezing the level of emergency liquidity assistance it is providing to Greek banks, the nightmare scenario for Greece is already beginning to unfold.
A call to break with the leadership of Greece’s ruling party has highlighted the futility of debt-led austerity and the burden it places on people on the wrong side of a banker’s bad bet.
Ngozi Okonjo-Iweala gave voice to sub-Saharan Africa on global monetary institutions.
Reuters/Afolabi Sotunde
The expected departure of Ngozi Okonjo-Iweala as Nigeria’s finance minister will leave Nigeria and sub-Saharan Africa without a significant voice in the IMF and World Bank.
Large movements in relative prices will create winners and losers this year, the IMF has said.
EPA/MICHAEL REYNOLDS
Helen Westerman, The Conversation and Sunanda Creagh, The Conversation
A new IMF report predicts a crackdown on cheap credit in China will help reduce China’s real GDP growth rate from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities.
A clerk counts Chinese 100 yuan banknotes at a bank in Nantong, Jiangsu province.
REUTERS/China Daily
A year after the Maidan revolution of 2014, Ukraine is at a critical juncture. The conflict with Russia has been escalating. Estimates of casualties exceed 5,000, with some reports putting the number at…
Pensioners protest in Nicosia.
Katia Christodoulou/EPA
The nightmare for Cyprus started in March 2013. The country’s banking sector faced a sudden squeeze. The two biggest players – Bank of Cyprus and Marfin Laiki Bank – were in danger of a collapse which…
This week we have witnessed a plunge in the price of oil and the astonishing demise of the ruble. These events provide the basis for a great series of conspiracy theories, the type that readily find an…
United on the need for stronger economic growth.
Lukas Coch/AAP
The G20 leaders have reaffirmed a commitment to raise global growth, saying if more than 800 agreed measures are “fully implemented”, GDP will grow by an additional 2.1% by 2018, adding more than US$2…
China’s President Xi Jinping, pictured gesturing at center, last month launched the Asian Infrastructure Investment Bank, a project the US hopes to stymie.
Reuters
In an influential speech in 2005, then-US deputy secretary of state Robert Zoellick called on China to become a “responsible stakeholder” in the international community. To optimists, China’s recent efforts…
A carrier’s liability for damage, loss or delay of baggage is governed by a number of overarching international treaties.
Adam Fagen
If you get on a plane and your baggage ends up being delayed, damaged or lost, who’s responsible: you or the airline? And what rules apply when you’re flying between different countries – even if you don’t…