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 (...)

UK chancellor George Osborne is the latest politician trying to enshrine a balanced budget rule into national law. Photograph: Stefan Rousseau/PA Wire

Budget battles are nothing new. But the current attempts by so many different countries to tie the hands of tomorrow’s profligate politicians are with(...)

Banknotes worth 150 trillion Zimbabwean dollars. Photograph: Philimon Bulawayo/Reuters

A quadrillion is the number 1 followed by 15 zeroes. Or, to put it another way, a thousand trillion. For anyone lucky enough to possess 175 quadril(...)

 Klaus Masuch, Istvan Szekely and Ajai Chopra: neutral observers will probably conclude that the troika’s polices worked in Ireland. Photograph: Alan Betson/The Irish Times

There are two different ways of looking at the crisis engulfing Greece. Syriza claims to be acting heroically, following its democratic mandate to end(...)

‘The debate over technology speaks to shifting economic structures whose implications we poorly understand.’ Robots manufactured by Spanish company Pal Robotics. Photograph: Peter Kneffel/EPA

Self-employment in the United Kingdom is at its highest-ever level. Productivity growth over the last few years has been dismal. Are these two data(...)

US Federal Reserve chairwoman Janet Yellen:  peppers her speeches with references to ‘equilibrium interest rates’. Photograph: Kevin Lamarque/Reuters

Should interest rates be now be raised in order to boost inflation? One of the worthies who sits on the Bank of England’s monetary policy committee is(...)

Bank of England governor Mark Carney: what he actually said was much more nuanced than the headlines suggested. Photograph: Gianluca Colla/Bloomberg

Immigration did not play as large a part as expected in the UK general election but it is an issue that is unlikely to go away, either in the UK or ma(...)

British prime minister David Cameron at a parade to mark the 70th anniversary of VE Day,  in London yesterday.   Photograph: Ben Stansall/AFP/Getty Images

The first of countless commentaries have been written, all fretting over the forthcoming referendum on United Kingdom’s membership of the European Uni(...)