The Western world since the Enlightenment has been shaped by the inviolability of rule of law, a commitment to scientific enquiry, and an adherence to democratic process. But at the root of all of these values lies an openness to ideas and a willingness to discuss them. Read more

While the rest of Europe was still debating fiscal solutions to the debt crisis, Mario Draghi reminded us that the answer may well be monetary. By signalling the possibility of strong ECB intervention in bond markets, the ECB president did not only calm the markets temporarily; he also revealed where the EU is heading. Read more

With the London Olympics about to start, it is time to reveal the medal tally. China will win 102 medals (gold, silver and bronze), followed closely by the United States (100), Russia (71), and the United Kingdom (71). Read more

Europe’s politicians are quick learners. It has only taken them about 2½ years to realise that Greece cannot be saved within the eurozone. Read more

Until a few decades ago, Australian cities were rank outsiders in the Asia-Pacific region. Prosperous, globally connected, democratic, Western-standard—they were in effect European enclaves in Asia’s southern backyard. Read more

It is the mantra of Europe’s political elites: To overcome the crisis more, not less, integration is required: more political integration, more banking integration, more fiscal integration. At the conclusion of this process, not only will the crisis be over but Europe will be a united superstate. Read more

Internships are a fantastic way for students to gain real world experience. Conversely, it makes sense for employers to employ interns – not just because they are cheap but also because they are often highly motivated and creative. Read more

The world economy is in crisis – at least that’s the impression you get from the business news. Europe’s monetary union is falling apart. Read more

It was Thomas Jefferson who once said that "those who desire to give up freedom in order to gain security will not have, nor do they deserve, either one”. In today’s euro crisis, this quote needs to be modified: Those who desire to give up democracy in order to gain economic stability may also end up empty-handed. Read more

Saving the euro from collapse must be a fulltime job for economists working at the European Central Bank (ECB) and its national member banks. At least so I thought. Read more

After last week’s decisive EU summit (the 20th of its kind), and after the German parliament’s support for the latest bailout plans, the euro is saved! Again. Read more

One day I will write a book about countries and their irrational fears. The English are convinced they are running out of land – when less than 10 per cent of the country is developed. Read more

For a committed market liberal it was a strange experience. There I was hoping for an election victory of the radical Syriza party in Greece’s general election. Read more

Far, far from the troubles at the home front, Prime Minister John Key was visibly enjoying the military honours and his joint press conference with German Chancellor Angela Merkel on his visit to Berlin last week. A better use of his time would have been studying the effects of delaying superannuation reforms. Although last month’s Budget once again confirmed the rising costs of superannuation, the prime minister ruled out reneging on his 2008 campaign promise not to increase the age of eligibility. Read more