Councils to sue Standard & Poors in new action

By Julian Bajkowski Australian councils burned by toxic investments in collateralised debt obligations (CDOs) from collapsed bank Lehman Bros. have escalated their legal action and will try and rope-in ratings agency Standard & Poors in their bid to recover losses of around $200 million. Litigation funder IMF said on Tuesday afternoon that it will file […]

Treasury head to warn of fiscal challenges

Secretary of the Treasury, Dr Martin Parkinson is expected to give a frank overview of how the global financial crisis will affect government budgets. Dr Parkinson’s presentation at the Australian Government Leadership Network, New South Wales on 6th September is anticipated to cover the impact of the global financial crisis (GFC) and its broad global […]

Spending in tough times

By Guy Callender In the wake of the global financial crisis (GFC), Australia has once again shown itself to be a 'lucky country'. Other countries had a very tough time during the GFC and many are still sweating as global economies struggle to emerge from the gloom of a sudden, sharp recession. High debt, high unemployment, […]

Economic growth a double-edged sword for sustainability

By Angela Dorizas Carbon emission reduction is a positive by-product of the current financial crisis and should spark further green investment, according to Macquarie University economics lecturer Ben Spies-Butcher. Speaking at a recent local government sustainability forum in Sydney, Dr Spies-Butcher said there was a love-hate relationship between economic growth and the environment. “While growth […]


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