Economic & Financial

The most important parts of the second package to rescue Greece, as was agreed on 20 February in Brussels by the Eurogroup, are the Private Sector Involvement (PSI) initiative to cut the nominal value of sovereign Greek debt by 53.5%, and the new soft-loan package of €130 billion, to be provided to Athens over the programme period by the...

Last week’s EU-China Summit provided a glance into China’s attitude to its foreign policy, with the views from the east taking a more assertive stance on issues surrounding Iran and Syria.

LONDON – 'Deficits are always bad,' thunder fiscal hawks. Not so, replies strategic investment analyst H. Wood Brock in an interesting new book, The American Gridlock. A proper assessment, Brock argues, depends on the “composition and quality of total government spending”.

The national central banks of the Eurozone that had Greek bonds in their portfolios have already exchanged them for new ones of the same face value, so that they will be excluded for the swap that’s soon to be realised under the Private Sector Involvement (PSI) plan to alleviate the country’s debt.

WASHINGTON, DC – Robert Zoellick will depart in June as President of the World Bank, once again raising the thorny issue of leadership of the Bretton Woods twins (the Bank and the International Monetary Fund). At their birth, John Maynard Keynes memorably warned that if these institutions did not get good leaders they would “fall...