With the US recovery faltering and prospects for Japan and the euro-zone worsening, there are growing risks that global growth will fall short even of our below-consensus 3% forecast this year.

The slump in oil prices results from faltering global demand and growing fears of an escalation of the euro-zone crisis. As such, it is wishful thinking to imagine that cheap oil can itself generate a...

The best that can be said about the Los Cabos summit is that it appears to have been less fractious and better organised than November’s meeting in Cannes. But it seems to have done precious little to...

Our working assumption is that there will only be a limited break-up of the euro-zone, with Greece and one or two other smaller countries leaving this year or next but policy-makers managing the...