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NewsMail Morning Edition
Sun 20 May, 2012

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World leaders back Greece, vow to fight turmoil

World leaders back keeping Greece in the eurozone, vowing to take all steps necessary to combat financial turmoil while revitalising their economies.

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The Drum

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Late degenerate capitalism and the eurozone fallout

What we have nowadays is a market of late degenerate capitalism. Morality is negotiable. Players want economic freedom but don't want to pay the price of their strategic errors.

Which brings us to the eurozone. The system as currently designed is unsustainable - countries have either got to have their own currency sovereignty, or they've got to have a federated fiscal policy capacity.

So what could the fallout from the crisis mean for Australia?

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Just In

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Drogba leads Chelsea to Champions League glory

Didier Drogba was the hero as Chelsea shattered Bayern Munich's Champions League dream with victory in a nail-biting penalty shoot-out at the Allianz Arena in Munich.

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World

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World leaders back Greece, vow to fight turmoil

World leaders back keeping Greece in the eurozone, vowing to take all steps necessary to combat financial turmoil while revitalising their economies.

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Business

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Facebook takes Wall Street roller-coaster ride

Facebook's shares rose less than expected on its first day of trading, despite making one of the most eagerly-awaited market debuts in history.

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Politics

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Chinese dissident Chen flies to US with family

Chen Guangcheng, the high-profile Chinese dissident at the centre of a diplomatic dispute between Beijing and Washington, has left his homeland for the United States.

The blind dissident, who spent six days inside the US embassy in Beijing, will go to New York to study law under a deal brokered by the United States and Chinese governments.

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Sport

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Bombers hold off Tigers fight-back

Essendon held off a momentous second-half comeback from Richmond to run out 17-point winners in the Indigenous Round's showpiece Dreamtime at the 'G clash on Saturday night.

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Science and Technology

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Rocket launch aborted at last second

A privately-owned rocket aborts its launch toward the ISS at the last second, after a computer detected an engine problem.

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Environment

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City dwellers fare better than country cousins

A report has found people who live in the city fare better in terms of health, education, employment and wealth than their rural counterparts.

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