Editor’s Choice

Panic station: Inside the bond markets

The eurozone is quaking, thanks to the men who control the $80 trillion bond market. At its epicentre is the Chicago Mercantile Exchange – when traders here are nervous, nations are rocked, writes Stephen… »

Euro “dead in 5 years”

The euro will have broken up before the end of this Parliamentary term, according to the bulk of economists taking part in a wide-ranging economic survey for The Sunday Telegraph…. »

Eurozone banks facing second wave of loan losses

The European Central Bank sent tremors through financial markets last night when it warned that banks in the eurozone nations faced having to write off another €195 billion in bad loans over the next 18… »

Perfect pitch: Cape Town’s Green Point stadium

With just days to go, Cape Town’s sleek new Green Point stadium is in the final stages of preparation for the World Cup. This stunning white apparition rises like a porcelain bowl from a podium set in restored parkland, between the breakers of the Atlantic and the commanding backdrop of Lion’s Rock, Devil’s Peak and… »

US money supply plunges at 1930s pace as Obama eyes fresh stimulus

The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history…. »

Double-dip fears over worldwide credit stress

The global credit system is flashing the most serious warning signals in almost a year on triple fears of a Spanish banking crisis, escalating political risk in Asia, and a second leg to the US housing slump…. »

Revealed: how Israel offered to sell South Africa nuclear weapons

Secret South African documents reveal that Israel offered to sell nuclear warheads to the apartheid regime, providing the first official documentary evidence of the state’s possession of nuclear weapons.

The “top secret” minutes of meetings between senior officials from the two countries in 1975 show that South Africa’s defence minister, PW Botha, asked for the warheads… »

Nouriel Roubini said the bubble would burst and it did. So what next?

The dismal science? Don’t believe a word of it. If Nouriel Roubini’s New Year’s Eve invitations were anything to go by, economics is far from the dour affair it once was…. »

Hedge funds bet big on the falling euro

Hedge funds, including Hayman Advisers and Matrix Group, have told investors that they expect the sovereign debt crisis to worsen despite the €110bn (£79bn) bail-out by the International Monetary Fund, the European Union and the European Central Bank.

Anxiety about the financial health of Europe increased yesterday after Spain’s national bank was forced to take control… »

Great Depression II

Leading City experts have started raising the prospect of “Great Depression II” amid worries that the European economic crisis could trigger a deeper bout of… »