The answer, even though they see over and over again that austerity leads to collapse of the economy, the answer over and over [from politicians] is more austerity.
— Joseph Stiglitz, Asian Financial Forum…
The audit profession has been blamed for contributing to major corporate collapses, the global financial crisis and most recently, the Greek debt crisis.
AAP
The audit profession has received consistently bad press in recent years. Audit independence, or rather the lack of it, has been blamed as a contributing factor in some of the major corporate collapses…
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."
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By Kevin Davis, Australian Centre for Financial Studies
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…
Not so funny…. Portugal is the next vulnerable Euro nation, but it doesn't fit the German-favoured critique of a profligate country unwilling to undertake reforms.
AAP
By Harald Sander, Cologne University of Applied Sciences (CUAS)
Greece is rescued, for now…maybe. Perhaps it’s time to move on to the next basket case. So, which of the PIIGS is the next Greece?
For the moment, Portugal looks to be the front-runner. The country’s…
Italian Prime Minister Silvio Berlusconi has said he will resign after losing parliamentary support.
AAP
Italian Prime Minister Silvio Berlusconi appears set to become the largest political casualty so far of the Eurozone’s continuing inability to resolve its massive sovereign debt problems.
Berlusconi…
The Greek Prime MInister is on the way out, but the new government has a lot of work still to do.
AFP/Aris Messinis
The Greek Prime Minister will resign in an effort to save the bailout deal agreed by the European Union to dig the country out of its debt crisis.
George Papandreou agreed to go following talks with the…
Greece's tough austerity measures have been unpopular with citizens.
AAP
Greece’s cabinet has given unanimous backing to Prime Minister George Papandreou’s plan for a referendum on the government’s austerity program.
Papendreou emerged from talks with fellow EU leaders at…
A 40% public hospital budget cut has restricted access to care.
AAP
Another round of violent protests erupted in Greece last week, following the latest austerity cuts to public service jobs and pay. Meanwhile, the creeping consequences of austerity measures are beginning…
Is a partial default one of the steps to recovery for Greece?
AAP
Will Greece default and exit the Eurozone?
The best-case scenario is a managed, orderly, partial default with the European Financial Stability Facility (EFSF), a fund created in 2010 to manage Eurozone…
Nicolas Sarkozy, Christine Lagarde and Angela Merkel share a joke at Thursday's Greece bailout talks.
AAP
European leaders signed off on a second, 109 billion euro bailout for Greece overnight, while also establishing what has been described as an “infant monetary fund” to intervene if the bloc’s sovereign…
Thursday's make-or-break EU finance ministers meeting looks set to be a highly charged affair.
AAP
As Margaret Thatcher’s trade minister in the 1980s, Norman Tebbit devoted much of his time to dealing with the European Community – the precursor to the European Union. Routinely, at meetings in Brussels…
