The only institution capable of acting as an impartial judge between the Germans and the Greeks is the IMF which, sadly, has gone missing in action. Pictured: Christine Lagarde, managing director of the IMF. Photograph: Andrew Harrer/Bloomberg

It is as hard to conjure up the right metaphor as it is to figure out why nobody outside Greece seems to be worried. The risk that the euro area is ab(...)

Our debate about tax is as incoherent as is the one in the UK; claims are made that often violate the basic principles of arithmetic

Next month’s UK election will usher in a period of unusual political instability. The campaign itself has already been quite extraordinary. All partie(...)

Syriza Party leader Alexis Tsipras: the Greeks have managed to pull off a remarkable trick. Photograph: Kostas Tsironis/Bloomberg

Trying to guess what happens next to Greece and its interminable negotiations with the EU amounts to an assessment of what runs out first: patience or(...)

Central Bank: every banker knows that higher volumes of lending risks lower quality – the chance of loans not being repaid. Photograph: Matt Kavanagh

An unusually self-aware analyst once admitted that you can stare at an investment bank’s accounts “until your eyes bleed” – but you would still be non(...)

There was a mere 10 months between the gamble of the exit and the first post-austerity budget. Photogarph: Bryan O’Brien/The Irish Times

One year to the day since the bailout exit it is, perhaps, difficult to understand why the decision to make a clean break was so controversial. As wit(...)

Membership of the EU is not a gimme for Scotland. So, whether they vote Yes or No to independence, they might well be an ex-EU member by 2017, given the other referendum, on UK EU membership, that could be taking place around then

It has only been a week-and-a-half since the Scottish independence debate exploded into life - or at least into our consciousness. Saturation media co(...)

Dan Aykroyd and Eddie Murphy in ‘Trading Places’. Their characters’ antics would be an anachronism today. Photograph: Paramount

This is another story about well-intentioned regulation going awry. It is also an example of something that lots of people are concerned about: the ri(...)

If the emerging markets deliver a major shock that spreads to Europe, then Mario Draghi’s famous promise to “do whatever it takes” to save the euro will, finally, be tested in combat.

One crisis after another. As hopes have risen for a normalisation of the world economy following the Great Financial Crisis, a new storm is brewing(...)

The ECB headquarters in Frankfurt. Despite the two quarters of grinding growth, the size of the euro zone economy is still smaller (by 0.4 per cent) than at the same time last year. The recovery, such as it is, is fragile. Photograph:  Kai Pfaffenbach/Reuters

The euro zone economy grew by 0.1 per cent in the three months to end-September, it was announced yesterday. That this was in line with market expecta(...)

Rising global inequality may not just be a cyclical phenomenon; something structural could be going on. The rise of the 1 per cent might be a function(...)