As European leaders nervously draw up their emergency plans for a possible Greek exit from the eurozone, one particular thought fills them with dread: what if the country simply refuses to leave?
Articles by Karen Maley 
Maley: Europe won’t swallow Merkel’s soother
German Chancellor Angela Merkel will have to perform a wily balancing act at tonight’s summit of European leaders. Growth strategies have to be combined with deficit reduction.
Maley: negotiating in eurozone hell
Although global markets staged a rally overnight on fresh hopes of Chinese stimulus, many observers are wary of the growing fractures that are emerging in Europe.
Maley: bailout doubts for an unruly Greece
Athens is lurching dangerously out of control, after the failure of Antonis Samaras’ to form a coalition government sharply increased the likelihood that the country will quit the eurozone.
Maley: will markets swallow Westpac’s formula?
When Westpac boss Gail Kelly unveils the bank’s full-year results on Thursday, investors will be keenly focused on what she has to say about the bank’s growth strategy.
Maley: the rise of Europe’s austerity foes
Financial markets will be on high alert this week after two major political events in Europe on the weekend showed that the eurozone debt crisis is about to embark on a new political phase.
Maley: smashing the yen to save Japan
Japanese officials are no doubt breathing a sigh of relief as the yen has weakened against the US dollar this year.
Maley: red lights flare for US shares
With the US sharemarket trading overnight at its highest level since May 2008, funds manager John Hussman argues that investors should be asking themselves one simple question: “Do I feel lucky?”
Maley: an end to the rising yuan?
Is China about to put an end to the yuan’s rise? That’s the speculation among foreign exchange traders after China reported a $31.5 billion trade deficit in February.
Maley: stimulating the economy without filling the tank
The US central bank is grappling with the thorny problem of how to apply an extra monetary stimulus to the US economy before the upcoming presidential election.
Maley: can the ECB avert catastrophe?
Financial markets suffered a bout of disappointment overnight after US central bank boss Ben Bernanke signalled that he wasn’t in a hurry to start a new round of bond buying.
Maley: tricked by a Wall Street mirage
Are global sharemarkets completely ignoring the growing economic storm clouds as they stage their dizzying rally?
Maley: Australia’s bipolar rates wrestle
Is the next move in interest rates up or down? Instead of listening to market economists, it’s much better to try and work out how the Reserve Bank itself is approaching the question.
Maley: hands off China’s stimulus tap
China’s central bank will be reluctant to launch a massive monetary stimulus despite the looming threat from the eurozone debt crisis, a former senior official has warned.
Maley: can Greece play EU hardball?
Tensions between Athens and the rest of Europe have risen to dangerous levels, with several European countries now pushing to delay Greece’s second €130 billion bailout package.
Maley: prepare for a US house price washout
US investors heaved a sigh of relief overnight, as the Obama administration unveiled a $25 billion settlement with five major home lenders over foreclosure abuses.
Maley: how much recession can Greece take?
Investors again are being haunted with the prospect of a disorderly Greek debt default, as Greek political leaders dig in their heels and resist tough new austerity measures that are being demanded.
Maley: a Greek writedown chain reaction?
Global equity markets have enjoyed the best start to the year since 1994, but their euphoric mood is about to be sorely tested.
Maley: Bernanke holds a housing ace
Investors face a nervous few months as they try to work out when US central bank boss Ben Bernanke will play his last remaining trump card — buying up long-term mortgage bonds in an effort to revive the ailing US housing market.
The race against a Greek debt clock
Investors are growing increasingly worried about a looming Greek debt default, as the country’s deepening recession means lenders are being asked to agree to even steeper write-offs.
Greece’s New Year dampener
Greece has put a dampener on the New Year rally, warning that the country will have to leave the eurozone unless it can reach agreement with its international creditors over its latest €130 billion ($US170 billion) bailout package.
A deaf ear to China’s dangerous dip
Chinese shares are plumbing their lowest levels since March 2009, as investors fret that the country’s central bank is failing to act aggressively enough to boost faltering economic activity.
Maley: a taste of French ratings fear
Are France’s political leaders softening up voters for an imminent loss of the country’s precious triple-A rating? That was certainly the impression last week…
Maley: Europe fires a big bank bazooka
Have European politicians decided to give their banks the job of easing the region’s roiling debt crisis? That’s increasingly the view of investors after last week’s move by the European Central Bank to provide unlimited three-year loans to banks at a 1% interest rate.
Maley: strapped in for a market meltdown
Global equity markets are set for precipitous declines mid-way through next year, according to a leading technical analyst.
