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A bitter summer: Greece on the precipice

A referendum has been called, global markets are frightened. Leon Obrenov outlines the latest developments in the Greek debt crisis, and discusses whether Greece has anything left to lose.

Bank of Japan’s monetary policy: Japan and Australia

Last year on December 26th, Shinzo Abe assumed office as Japan’s current Prime Minister and immediately began fulfilling his electoral campaign promises of bringing sweeping economic reform and output growth to the world’s third largest economy. After suffering decades of lacklustre output and many failed attempts to induce growth, Abe’s policies, both currently implemented and in the pipeline, are the biggest things to hit Japan since Godzilla itself.

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Small country, so what’s the big deal?

This past Tuesday (March 19th), the German-led Eurozone finance ministers and International Monetary Fund (IMF) offered Cyprus a €10 billion bail-out package. The catch is, this plan requires Cyprus to raise approximately €5.8 billion (almost one-third of Cyprus’ GDP) as its share of the bailout, by Monday (March 25th). Cyprus is a small player in the Eurozone, and in a lot of trouble – could the costs of keeping Cyprus in the Eurozone outweigh the benefits?

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The World this week with ESSA

Hand picked selection of economics content from around the web.

This week: Austerity is supposed to reduce debt and stabilise recessions – but has it worked? Also why Australia’s macro policies have been successful, and the case for legalising prostitution.

ESSA, 14 October 2012

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Understanding the crisis that embroils Europe

I am sure you have heard of the commotion unfolding in Europe, dubbed by many news media outlets as the ‘European sovereign debt crisis’. But what does this all mean? Ric Battelino, Deputy Governor of the Reserve Bank of Australia, spoke in Sydney about the ‘European Financial Developments’ and what it means for the world …

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