Latest posts

Euro crisis

Will German voters cut the cord?

Ironically, the Greek rescue package may have increased the chance of a future sovereign default in Europe – other nations struggling under massive debt burdens are likely to find there is nobody left willing to bail them out. [...]

The next fall of Rome

Schoolchildren around the world learn that European history starts with Athens and Rome. In future times, they will also be taught that the end of modern Europe began in the same places. [...]

Europe can’t afford weak leaders

Europe’s centre-right has instead embarked on the task of presenting themselves as the nicer social-democrats, purging themselves of any trace economic liberalism and any old-fashioned conservative instincts. Unfortunately, this unprincipled race for popularity will do nothing to restore Europe’s competitiveness. [...]

Europe’s slow, painful death

There is something comical about current talk about a potential Greek bankruptcy. No, the state of Greece’s public finances is certainly no laughing matter. But it is funny how politicians and financial markets are getting excited about this as if it were news. [...]

The euro is a failed experiment that should be cashed in

Greece's budget problems are not just a worry for this small economy at the periphery of the European Union. It is an acute embarrassment to European elites that pushed through monetary union for political reasons. If they had only listened to economic advice they would have spared their countries a costly economic adventure. [...]

Greek tragedy for the world economy

There is a real possibility that some countries have overstretched themselves so much that they cannot service their debt in the near future. It now looks more like a question of ‘when’ rather than ‘if’ that will happen. We are anxiously awaiting the next act of this Greek tragedy. [...]

Trans-Atlantic Fiscal Follies

There are good reasons to remain cautious about Europe’s economic future. While it is true that things have somewhat stabilised after the tumultuous events of the last 12 months, we should not forget that there are some difficult challenges ahead. For Europe, the financial crisis may be over, but a new crisis is just about to begin. [...]

Does Europe still matter?

Where is the European Union heading? How are Europe’s economies dealing with the repercussions of the financial crisis? And where will the continent be when the crisis is over? These are the questions that should be asked in Australia because the state of Europe still matters to our economy. [...]