Last week, the Parliament of Cyprus rejected a bill that would impose a levy of 9.9% on bank deposits over the insurance threshold of €100,000 and a levy of 6.75% on deposits below the insurance ceiling…
- Dean of Business School, University of Southern Queensland
The economic troubles of Italy are largely homegrown. Some might argue that they have been made worse by the fiscal austerity measures adopted under pressure from the European Union. But the truth is that…
Italy has had several crucial elections in the past. In 1946, right after the end of World War II, citizens were called to decide between Republic and Monarchy. Two years later, the 1948 general election…
The economic profession lacks a unified theory of economic growth. Textbooks and academic journals contain a plethora of models and paradigms which generate different (and sometimes contradictory) predictions…
For a little longer than a year, the “technical” government of Mario Monti was supported by a vast and heterogeneous coalition: the centre-right People of Freedom Party of Silvio Berlusconi (PDL), the…
At a meeting in Luxembourg last week, the finance ministers of 11 members of the European Union (Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain) agreed…
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…
Yesterday, the European Central Bank’s president, Mario Draghi, unveiled the European Central Bank’s rescue plan for the Eurozone. Mr Draghi said that the ECB is now prepared to buy sovereign bonds of…
On 23 July, the rating agency Moody’s put the triple A debt of Germany, the Netherlands, and Luxembourg on a negative outlook. The day after, the outlook on the European Financial Stability Fund was also…
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…
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 positivity off the weekend’s news that Spain’s banks will receive rescue loans of up to 100 billion euros from eurozone finance ministers appears short-lived. Despite it being well-received in Asian…
The special EU summit held in Brussels on Wednesday revamped the discussion on Eurobonds (i.e. the issuance of common government bonds to pool the Eurozone debt liability) as a possible option to address…
After having gone through a dramatic financial meltdown and two years of recession in 2009 and 2010, Iceland started to recover in 2011 and IMF estimates now indicate that economic growth should average…
When it comes to finding ways out of the European sovereign debt crisis, views appear to range widely. At last week’s World Economic Forum Martin Wolf, chief economic commentator for the Financial Times…
The decision by Standard and Poor’s to downgrade the debt of nine Eurozone countries last week, followed by the inevitable downgrade of the Eurozone rescue fund two days later, raises important questions…
Every year, on the evening of December 31, the President of the Republic of Italy addresses the Italian people with a video message broadcast by all the major radio and television networks. This “end of…
The announcement by credit ratings agency Standard & Poor’s overnight that it could downgrade the triple-A rating of Europe’s debt rescue fund has battered market confidence, which had been buoyed…
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…
The departure of Silvio Berlusconi does not seem to have eased the pressure on Italy, with reports suggesting the International Monetary Fund is reading a 600 billion euro emergency bailout for the Eurozone’s…
Global markets have tumbled in the past 24 hours on fears over Italy’s worsening debt crisis, with media reports that Germany and France have begun talks to break up the Eurozone if the monetary union’s…
During protests in Rome last month, as groups of hooded protesters clashed with the police, set cars on fire, and smashed bank windows around the Piazza San Giovanni, two large speakers installed on a…
With the collapse of Muammar Gaddafi’s autocratic regime, the transitional government in Libya is prompting hopes for a new era of democracy in the country. While a swift transition to democracy is certainly…
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