Europe

Developed countries like New Zealand can learn from Cyprus; an economy overly dependent on its financial sector rather than the real economy, is vulnerable. And the rule of law exist in our minds as much as it does in laws, courts and banks. It’s like a handshake. If one sides looses faith in the deal, doesn’t matter how many law enforcers you have, the system collapses.

Does anyone really understand what the hell just happened in Cyprus? 

Disaster appears to have been avoided today with a ‘Plan B’ agreed. The draft deal, cobbled together over the weekend would see bank deposits under $100,000 untouched but the country’s second biggest bank close. It still has to be approved by euro zone finance ministers.

Judges in Egypt boycott referendum on Morsi's powers; North Korean missile now on launch pad; Chinese activist Chen Guangcheng urges Communist Party chief to effect political reform; Taliban suicide bombers hit US-Afghan air base; Europe to act on Israel's settlement actions; and more

Egypt's Judges Boycott Morsi Referendum

G20 leaders pressure Europe to boost economic growth; China pledges $43 billion to International Monetary Fund's reserves; Chinese and Philippine vessels withdraw from disputed Scarborough Shoal; Afghan militants killed in attack on coalition base; governments urged to 'seize the moment' at Rio environmental summit; and more

Top of the Agenda: G20 Leaders Pressure Europe to Boost Growth

Fear and greed may be the motivating emotions in the market place, but information is the life-blood of democracy. The voters of 2011 need a transfusion before they visit the polling booth on Saturday.

At this very late stage of the campaign, the biggest fear of every political party has to be a low turnout.

Austerity protests rage across Europe, and here in New Zealand a leading proponent of the free-market economy rethinks his stance

Yesterday I was astonished to read of Bernard Hickey’s stunning conversion from high priest of neoliberal economics to advocate of far greater control by New Zealanders of our own economy.