Europe’s stress-testing of its banks has, deservedly, generated a considerable amount of cynicism, writes Stephen Bartholomeusz, of Business Spectator.
International Monetary Fund
The IMF’s shrinking appetite
Big-spending governments have been given certainty that they now face a zero-tolerance regime, following the International Monetary Fund’s move to break off talks with Hungary over the country’s funding program, writes Karen Maley.
Political snippets: With hospitals out of the way, will Rudd turn to taxation?
Kevin Rudd has achieved enough at his COAG meeting to defuse health and hospitals as an election campaign negative for Labor. Now it’s time to tackle taxation. Plus, the budget deficit, mortgage rates and other business news.
Business As Usual: Bidders line up for AXA … cloud over crucial Greece meetings … US foreclosures roll on …
Volcano delays key Greece meeting between the IMF, US housing foreclosures roll on and the jobless recovery goes on. Plus, China tightens the screws on property and other business tidbits of the day.
Bernanke’s warning falls on deaf ears
In their current euphoria, American markets believe they are in the midst of a great recovery that will solve all; Americans don’t want to be told that it will take at least the next 10 years for the debt and deficit mountains to be controlled.
IMF or not to IMF, that’s the Greek question
Getting confused whether or not an IMF bailout seems likely for Greece? You are not alone. Izabella Kaminska tracks the twisting route of the bailout.
Iceland’s woes aren’t thawing yet
A year ago the Icelandic government seized control of the country’s big three banks following a run on their deposits. The designer fashion shops are still kicking — but the piper (in this case the IMF) must be paid.
Why households must save to save the economy
Keynes’ Paradox of Thrift says that if everyone starts saving during a recession then reduced demand can make things worse. So spending has traditionally been encouraged. But a new IMF paper challenges the theory.
IMF: world’s advanced economies will contract by 3.8%
US interest rates are falling, commodity prices are weakening and share markets are weakening as investors seemingly position themselves for more bad news.
Indonesia: the economy and the election
Indonesia is one of the rare countries whose economy is set to expand this year, says the IMF. And heading into the election, President Susilo Bambang Yudhoyono is getting the credit.
IMF report to give a real glimpse inside China’s economy
Later this week we should get the first comprehensive and independent examination of the Chinese economy for three years.
The Irish economy ain’t smiling
There’s a very simple, but brutal equation in world finance and business: Ireland = basket case.
New liquidity rules to lift the cost of banking
Australian regulators are discussing a new system of liquidity rules for the Australian banking system that will force the banks to protect themselves against higher interest rates in times of crisis.
That’s no green shoot, that’s Australia in full bloom: OECD
It’s clear that Australia will have the best performing economy among the major economies this year.
Good news, bad news, but IMF takes a sober line on the US
The risks remain on the downside in the US economy.
G8 does little to address the ills of Europe’s banks
There is growing concern — for growing reason — over the health of Europe’s banks.
Germany: worst banking system ever
Most German banks are either broke or on life support.
