Can British Prime Minister David Cameron’s Tory government hang onto EU membership? Or will the UKIP and its allies force the country to go it alone?
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EUROZONE
Richard Farmer’s chunky bits
Whatever the forecasts contained in tonight’s budget, they will almost certainly be wrong. Plus other political views along the way.
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Lessons from austerity front lines: cutting spending is not the answer
As revenue writedowns become apparent in the federal budget, keep in mind the lessons from austerity offshore. Crikey writers Glenn Dyer and Bernard Keane report.
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The (actual) cost of bailing out Cyprus? 23 billion euros
Cyprus’ rescuers have emerged as a bunch of pie-in-the-sky bureaucrats who have just added 5 billion euros to the country’s already huge bailout bill. And now there’s new questions over Portugal.
READ MOREBarring catastrophe, RBA will not cut rates further
If the Reserve Bank cuts its key cash rate from now on, you will know something terrible has happened offshore or something has gone bad very quickly in the local economy
READ MORECyprus bailout hits the trifecta
Crikey readers — and Guy Rundle — talk Cyprus, DFAT’s responsibilities and our out-of-control debt.
READ MOREDyer: as Cyprus goes, so goes the eurozone
Cyprus is in tatters following the disastrous bank bailout offer a few weeks ago and this week’s new economy-“saving” bailout. Is this the new face of the eurozone? And could the Cyprus crisis bring down the entire economy?
READ MOREAbbott needs to face the media
Crikey readers talk the Cyprus bailout, Boris Johnson’s marvelous interview and their own dream cabinet.
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Cyprus bank crisis an elegant tax haven punishment
The EU’s Cyprus operation was not a stuff-up, but an elegant double-whammy, hitting both European tax havens within the EU/eurozone purview and smacking the Russian bear on the nose.
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Media briefs: Crete/Cyprus … Boris goes down … they’re for Cairns …
Crete, Cyprus, what’s a few hundred kilometres, a banking crisis and a minotaur or two?
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Richard Farmer’s chunky bits
Who is going to lead Labor at the next election, the only positive about the Cyprus bank crisis, and other political issues of the day.
READ MOREEurozone set for more pain — and it’s Italy’s fault
Italian voters have rejected austerity, opting instead for Berlusconi and comedian Beppe Grillo at the weekend’s election. This will not end well for the Italian economy, or the eurozone.
READ MOREForget the PIGS, it’s the UK really infecting Europe
Australia’s dollar is holding steady amid better news out of Europe. But the real worry now is Britain, where a return to recession is now a dangerously real possibility.
READ MOREIMF trims global forecast, but news still good in Asia
A small trimming of the IMF growth forecast was down to the eurozone contracting instead of growing. That hardly justifies the tone of some of the stories. It’s a tiny tidying up, the smallest bit of forecasting housekeeping you can have.
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Cameron’s ‘a la carte’ EU idea just national chauvinism?
David Cameron is playing to his base, largely, in giving Britons the option of divorcing the European Union. But European leaders are warning there will be consequences — for the EU and Great Britain.
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David Cameron’s Euro vision: would he dare abandon the EU?
David Cameron will outline his vision for Britain’s place in the European Union next week. Would he dare signal a split? It would be a disaster for a still-faltering economy, says EU researcher Keshia Jacotine.
READ MORE‘The only thing that can save us from Berlusconi is his death’
Former prime minister Silvio Berlusconi has ended months of speculation and dramatically declared a return to Italian politics. So what’s ‘Il Cavaliere’ up to, asks Josephine McKenna.
READ MOREWho’s afraid of European economic collapse? Not us
Economies and Europe remain recession-hit, but markets are paying less attention. There’s a growing confidence across the world that policy settings are now correct.
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Richard Farmer’s chunky bits: recession bites Europe…again
The impact of the world financial crisis lingers on. And the harsh-austerity countries did much worse than the OECD was expecting.
READ MORETonight: all eyes on Europe for ECB meeting
The whole world will be watching tonight’s meeting of the European Central Bank on how serious it is about saving the eurozone.
READ MORERipples from the eurozone depression reaching Australia
Australia is seeing the first impacts of the extended European economic crisis, via Asian manufacturing.
READ MOREKohler: the elephant in the economic room
The Spanish bank bailout may have taken some heat out of the European crisis, but it’s likely to be short lived as Italy’s debt trap reminds the world why it should never have been admitted to the EMU.
READ MOREKohler: how safe is Germany, really?
As the principal creditor to the eurozone, Germany is seriously exposed to the European monetary system, making a German exit from the eurozone perhaps more likely than a Greek or Spanish exit.
READ MOREEuro crisis: oils aren’t oils in debt-hit Spain
Spain has a real head of steam up as it moves into the overtaking lane ahead of plunging past Greece, and out of the eurozone. Just look at the way financial markets traded overnight …
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