Global economy

Carving up the Caspian Sea

The five states bordering the Caspian Sea, which is rich in fossil fuels, have just reached a deal trumpeted as a “regional constitution”. What now?

Another crisis will be along soon enough

We can’t tell you exactly when the next crisis will be or what will cause it. But we can tell you for certain that there will be one.

Ten years on: why did Lehman Brothers go bust?

John Stepek examines why investment bank Lehman Brothers went bust ten years ago and asks: should it have been saved, and would things have been any different if it had?

Ethiopia and Eritrea embrace peace

This week’s formal reopening of the border between Ethiopia and Eritrea cements a stunning reconciliation.

Far-right falls short in Sweden

But the party has shifted the terms of the debate. Matthew Partridge reports.

Duterte butts heads with the military

Philippines president Rodrigo Duterte has had the limits of his executive power exposed after a botched attempt to imprison his chief opposition critic.

South Africa slips into recession

South Africa’s economy fell into recession in the second quarter of 2018, contracting by 0.7% after a decline in GDP between January and March.

Our progress since 2008? Ten years older, and deeper in debt

A decade on from the collapse of Lehman Brothers, it doesn’t look like we’ve learnt any of the lessons of the credit crunch. But the next crisis won’t look the same as the last one, says John Stepek.

Ten years on: was it right to bail out the banks?

During the 2008 financial crisis, taxpayers had no choice but to underwrite the entire banking industry. And we’re still doing it, says John Stepek.

Ten years on: the biggest driver of the 2008 financial crisis has only got worse

The 2008 financial crisis was a result of “moral hazard” – individuals did not bear the full consequences of their actions. Nothing much has changed since then, says John Stepek.

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