Australian prime minister Tony Abbott in May introduced the toughest budget in almost two decades, warning that the economic situation was an “emergency”. Photograph: Daniel Munoz/EPA

After 23 years of continuous growth, and being the only developed country to avoid recession in that time, there is a feeling in some corners that (...)

With no new austerity measures needed to meet deficit targets, Dermot O’Leary, chief economist with Goodbody Stockbrokers, said the government should look to widen income tax bands, reduce the higher rate of tax, and  refocus on capital expenditure. Photograph: Dara Mac Dónaill/THE IRISH TIMES

The Irish economic recovery has gained momentum over recent months, meaning that no new austerity measures will be needed to hit the government’s 3 pe(...)

The ECB is always calling for structural reforms. Structural reforms are always politically difficult. They are only ever implemented by politicians brave and decent enough to think beyond the next election. So we hardly ever see them. Photograph: EPA

What beliefs, if any, inform European economic policy- makers? Is there a coherent framework that drives fiscal and monetary policy? Perhaps the answe(...)

Consumer sentiment bounced back to a seven-year high last month driven by improving perceptions about Ireland’s economic recovery and continuing recov(...)

Bank of Portugal governor Carlos Costa arrives to read a statement in Lisbon yesterday. Portugal’s central bank said  it had decided to rescue troubled lender Banco Espirito Santo in a €4.9 billion euro recapitalisation to be pumped into the healthy part of the bank. Photograph: Hugo Correia/ Reuters

Portugal will spend €4.9 billion to rescue its largest listed bank, testing the euro zone’s resilience to another banking crisis just months after (...)

 Alexander Hug, a member of the Organisation for Security and Cooperation in Europe (OSCE) talks to the press after his team were denied passage trying to reach the crash site of the MH17 in Donetsk, Ukraine. Photograph: Evert-Jan Daniels/EPA.

Ukraine said today it has suspended offensive operations in its military campaign in east Ukraine to help international experts reach the downed Malay(...)

Independent Wicklow TD Stephen Donnelly has refused to say if he will join a political party before the next general election and whether approaches have already been made to him.

Independent Wicklow TD Stephen Donnelly has refused to say if he will join a political party before the next general election and whether approaches h(...)

The day is coming, sooner rather than later, when the Chinese yuan currency becomes a true global trading currency, a new survey by HSBC Commercial Ba(...)

Minister for Finance Michael Noonan said about €40 billion of the State’s debt related to the banks, with the annual interest a mere €1 billion

It might have been the fact that he’s about to slip off on his summer holiday but the Minister for Finance Michael Noonan was particularly upbeat yest(...)

 Minister for Finance Michael Noonan: said the Government hoped to reduce interest payments on Ireland’s national debt by up to €375 million a year. Photograph: Gareth Chaney/Collins

The Central Bank yesterday upgraded its growth projections for the economy to 2.5 per cent this year, suggesting recovery was stronger than previously(...)