Figures suggest we are more flush than we thought. Photograph: Akos Stiller/Bloomberg

We move effortlessly from one financial crisis to another: Greece to China. The transition is smooth, but it is clear we can only handle one crisis at(...)

A board showing currency exchange rates in Almaty, Kazakhstan: the 22 per cent drop in Kazakhstan’s currency has reminded traders of what happened next when the Thai Baht devalued in the late 1990s. Photograph: Pavel Mikheyev/Reuters

Is another crisis in the offing or is it just an August wobble? One of the fears stalking global markets is the idea that every country wants a weaker(...)

John Bruton: his view that government finances should be likened to those of the ordinary household is wrong. A government can have positive or negative effects, sometimes huge, on an economy. Photograph: Dara Mac Dónaill

While we bask in one of the fastest-growing economies in the world, there are emerging signals of fragility from enough sources to remind us not to ta(...)

John Cochrane, a Chicago professor, points out that the US money supply recently went up 10,000 per cent and inflation went down. Photograph: PA

Despair is a negative emotion and one to be avoided. Yet it is hard not to feel that way when thinking about the state of economics. Macbeth, when he (...)

Minister for Finance Michael Noonan. ‘In many respects, the Irish economy is now on autopilot: the policy parameters are known and set by our European masters.’ Photograph: Collins

It’s almost as if Ireland’s economic success story is happening to a different country: it is as hard to find another economy – almost anywhere in (...)

Former chairman of the US Federal Reserve Ben Bernanke: in a recent blog he makes several telling points about the mess the euro zone finds itself in.  Photograph: Win McNamee/Getty Images

The former chairman of the US Federal Reserve, Ben Bernanke, is reinventing himself as a blogger. In his most recent posting he makes several telling (...)

Yanis Varoufakis: annoyed the European establishment with lots of analysis. Photograph: Kostas Tsironis/Bloomberg

Two decades ago, a senior Eurocrat, Bernard Connolly, wrote a book called The Rotten Heart of Europe. It was an exposition of the economic idiocies im(...)

 British chancellor of the exchequer George Osborne: widely regarded as prime minister in waiting. It appears he is single-handedly running the UK economy while David Cameron busies himself with the Brexit referendum. Photograph:  Andrew Yates

The UK chancellor of the exchequer has delivered the first purely Tory budget in nearly two decades. Amid all the never-ending sound and fury of the (...)

‘The euro is a project that resembles what was intended as Anglo Irish Bank’s headquarters.’ Photograph: Alan Betson

What links the euro, Greece and Anglo Irish Bank? While troubled countries and failed banks contributed to their own problems, the half-finished euro (...)

Customers queue to use an ATM outside a bank  in Thessaloniki, Greece, yesterday. Photograph: Konstantinos Tsakalidis/Bloomberg

No one will be surprised if Greek banks fail to open. That will be the start of the financial accident that everyone fears, the consequences of which (...)