http://www.thepunch.com.au/tags/europe/ Politics, political opinion, world news, sports news and the latest news and views updated live, daily on The Punch - Australia's best conversation. en Copyright 2012 The Punch penberthyd@newsltd.com.au penberthyd@newsltd.com.au Sat, 26 May 2012 20:00:49 +0000 Sat, 26 May 2012 20:00:49 +0000 Politics, opinion, world news, sports news, latest news, views, Barack Obama, Kevin Rudd, Julia Gillard, Nathan Rees, Malcolm Turnbull, Peter Garrett, Barnaby Joyce, Australian, federal politics, opinion polls, election, The Punch, thepunch, punch ExpressionEngine 1.6.7 http://blogs.law.harvard.edu/tech/rss 15 http://www.thepunch.com.au/images/punch-logo-rss.png http://www.thepunch.com.au/ 144 70 Politics, political opinion, world news, sports news and the latest news and views updated live, daily on The Punch - Australia's best conversation. Search The Punch keywords http://www.thepunch.com.au/search/ http://www.thepunch.com.au/articles/eurovision-cant-drown-out-the-human-rights-abuses/ Last year, thousands of Azerbaijanis spontaneously took to the streets of Baku shouting and chanting. None of the demonstrators were arrested. They were celebrating Azerbaijan’s triumph in the 2011 Eurovision Song Contest. Only a few weeks earlier, you would have witnessed an entirely different spectacle – partly fascinating, mostly disturbing, entirely incomprehensible. The Azerbaijani government’s response to demonstrations they don’t agree with. Teenage girls shouting “freedom!” chased and knocked to the ground by police, manhandled onto buses and driven to the outskirts of town. Elderly men shouting “resign” muffled and gagged. Younger ones punched, kicked and dragged into the back of police vans; facing the prospect of days, months or even years in an Azerbaijani prison cell. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/eurovision-cant-drown-out-the-human-rights-abuses/#comments http://www.thepunch.com.au/articles/eurovision-cant-drown-out-the-human-rights-abuses/#item8594 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/No-drachmas-for-Greece-uness-theres-a-tragedy/ Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/No-drachmas-for-Greece-uness-theres-a-tragedy/#comments http://www.thepunch.com.au/articles/No-drachmas-for-Greece-uness-theres-a-tragedy/#item8553 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/albania-a-country-which-actually-is-moving-forward/ It was a country that banned beards. Travellers arriving at the border sporting facial hair would be shaved on the spot. A citizen attempting to leave the country on other than official business engaged in an act of treason punishable by jail or even death. During the second half of the 20th Century Albania was one of the most isolated countries on earth. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/albania-a-country-which-actually-is-moving-forward/#comments http://www.thepunch.com.au/articles/albania-a-country-which-actually-is-moving-forward/#item8427 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/punch-q-a-should-we-panic-over-european-meltdown/ The markets are melting down again. The ASX 200 fell $33 billion, or around 3 per cent yesterday, on the back of more European scares. As you’d imagine, people like CommSec Chief Economist Craig James were rather busy yesterday. But we managed to grab him for a few quick questions. What’s the best case scenario? The best case scenario is that the Italian Government comes out with concrete proposals to address its budget situation. Another positive proposition would be instead of calling elections for early next year the Government or the Prime Minister simply resigns and a new government is formed. So anything that would provide a degree of confidence to the markets – at the moment we’ve got nothing. And the worst case scenario? It could be anything. It could be countries deciding to exit the Eurozone. It could be continued silence from the Italian officials on dealing with the situation. One of the worst case scenarios could be a country actually physically defaulting on its obligations. So there’s a whole range of negatives out there. There’s no one specific bad scenario; there are a number. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/punch-q-a-should-we-panic-over-european-meltdown/#comments http://www.thepunch.com.au/articles/punch-q-a-should-we-panic-over-european-meltdown/#item7123 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/the-australian-economy-is-going-well-for-now/ The noises coming out of Europe are ominous.  Australians should sit up and take notice. “If there isn’t a solution by Sunday, everything is going to collapse,” said French President Nicolas Sarkozy before dashing to Frankfurt for emergency talks with German Chancellor Angela Merkel. “If the Euro fails then Europe fails,” said Merkel. Though she added hopefully: “We will not let that happen.” penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/the-australian-economy-is-going-well-for-now/#comments http://www.thepunch.com.au/articles/the-australian-economy-is-going-well-for-now/#item6979 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/australia-is-the-unlucky-country-girt-by-misery/ So. A bunch of European bankers with their sharp suits and their cuckoo clocks want to take a break from their fondue parties and ski lodges made of cognac to tell us about doing it tough as a true blue Aussie. What right they have, I don’t know. In the global economic climate, ‘Euro’ and ‘money’ make as credible a pairing as ‘Fascist Fun Run’ or ‘Relevant Bono’. Yet when Euromoney magazine named Wayne Swan the world’s Finance Minister of the Year, it presumed to get stuck into his constituents for their despondency. “Surrounded by the consumer baubles that wealth brings, grumpy Australians don’t seem to appreciate how good they’ve had it,” said the report. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/australia-is-the-unlucky-country-girt-by-misery/#comments http://www.thepunch.com.au/articles/australia-is-the-unlucky-country-girt-by-misery/#item6808 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/An-island-of-calm-amid-global-economic-meltdown/ Twenty years ago today, Muscovites awoke to tanks in their streets in a ill-fated coup against the modernising leader, Mikhail Gorbachev. It was, it turned out, the last gasp of the hardliners and within months, Soviet communism was officially over. Along with the collapse of the Berlin Wall two years before these events were viewed somewhat triumphally as the end of history. Indeed a book of the same name was a publishing sensation in the early 90s. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/An-island-of-calm-amid-global-economic-meltdown/#comments http://www.thepunch.com.au/articles/An-island-of-calm-amid-global-economic-meltdown/#item6536 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/its-time-our-givernment-trimmed-the-fat/ Over the past three decades we have seen successive Governments expand the size and scope of the Federal Budget, to the detriment of all Australians - and I must emphasise this is a bi-partisan issue. This year’s budget with all its debt and deficit continues a disturbing trend with the centralisation and growth of the Federal Government. Treasury figures show the total dollar value of Australian Government spending has grown from $176.9 billion in 2000-2001 to $314.3 billion by 2010-11, a total increase of 78 per cent. This equates to 5.9 per cent growth per annum over the past decade. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/its-time-our-givernment-trimmed-the-fat/#comments http://www.thepunch.com.au/articles/its-time-our-givernment-trimmed-the-fat/#item6217 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/the-wheels-have-been-greeced-for-too-long/ “Okay it’s time to go now - they have started throwing stones.” The words were calm but it was hard to miss the rising panic in the voice of my Greek host Danai as stones pummelled into the building behind us as we watched the latest episode in the demonstrations that have been rocking Athens for the past month now. Yesterday the tension was palpable. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/the-wheels-have-been-greeced-for-too-long/#comments http://www.thepunch.com.au/articles/the-wheels-have-been-greeced-for-too-long/#item6184 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week. http://www.thepunch.com.au/articles/its-never-been-clearer-there-really-is-no-place-like-home/ They say the best thing about travel is that it gives you a better understanding and appreciation of home.  That’s certainly the case for me.  A recent trip to Europe, to attend the annual conference of the International Labour Organization, has shown me that while life in Australia is not perfect, we are still a long way ahead of most countries. You don’t have to look far in Europe to see that the continent is still struggling through an economic crisis.Greece has seen riots as citizens protest the austerity package the government has been forced to implement to pay back its debts. The move to an austerity package is dragging down the Greek economy by cutting wages and jobs, limiting the country’s ability to grow its economy and pay off its debts. The victims of this are working people and their families, many of whom did not benefit in the good times. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/its-never-been-clearer-there-really-is-no-place-like-home/#comments http://www.thepunch.com.au/articles/its-never-been-clearer-there-really-is-no-place-like-home/#item6162 Sat, 26 May 2012 20:00:49 +0000 Over the past week, the word Grexit has been thrown about. It’s a term coined to describe a Greece exit from the euro. But will it actually happen? Only last week German Chancellor Angela Merkel said that Germany wants the country to remain in the bloc. But recently, financial leaders from the European Central Bank (ECB), International Monetary Fund (IMF) and various Heads of State have broken their silence, and publicly commented on such a move. It’s something they avoided for fear of an overreaction on global share markets. But investors are certainly pricing in the possibility, as they sell out of risky assets like the Australian dollar which fell to below parity with the greenback. The Australian share market lost more than $100 billion dollars last week.