EDITORS' PICKS

Revenge of the golden days
Alan Kohler
Given the catastrophe that would be triggered by an Italian default, it's inevitable the ECB will come to the rescue eventually. But this means a de facto return to the gold standard as capital owners scurry to avoid inflation.

Canberra's green light blows out
Alan Kohler
Revenue from carbon permits could drop by as much as 40 per cent in the 2015-16 budget, meaning Australia is on track for even tighter austerity budgets.

Seeing red in a power vacuum
Robert Gottliebsen
As Russia and China take strategic positions in Europe's economic future, the West should be asking how its capitalist systems came to be overtaken by cash from these two powers.

Rupert looks outside the box
Robert Gottliebsen
News that Australia's free-to-air networks are in a pickle would have made Rupert Murdoch even more determined to take control at News Ltd. But will he be forced to rescue Lachlan?

Cooling fears of a super funds freeze
Stephen Bartholomeusz
The superannuation industry is keenly aware of the pending baby boomer drain on funds, and has been for years, so talk of freezes and liquidity strains doesn't hold water.

Rates prepare for a break-up
Stephen Bartholomeusz
While the big banks mostly cut interest rates in step with the RBA, the recent round of results and the ongoing eurozone crisis indicate that relationship may not last much longer.

Italy's capital punishment
Karen Maley
Time is running out for Italy and unless strong eurozone countries such as Germany agree to massive fiscal transfers, investor panic will worsen.

The end of austerity?
Karen Maley
As Greece and Italy scramble to overcome internal political obstacles to bailout access, investors fear it may be almost impossible to implement further budget cuts.

Slugger Gillard's second chance
Rob Burgess
If Julia Gillard can expand her vision for the Labor Party, she may start to land some solid punches – but carbon tax, MRRT and superannuation fights will remain tough.

Labor's real carbon fight is just beginning
Rob Burgess
As the Greens push toward a radical clean energy future, Labor is pulling just as hard the other way to make sure there's no slackening of pace in the resources sector.

CLIMATE SPECTATOR: A clean vote for Australia's future
Giles Parkinson
The carbon price is now law, setting the scene for Australia's greatest economic transition, and the focus will now turn to the opposition's outdated policy.

Europe will suffer a Chinese burn
Oliver Marc Hartwich
China is unlikely to come to the EU's rescue as the risk is simply not worth taking for the People's Republic, with Europe's social model clearly broken.

The RBA's inflation reality check
Christopher Joye
The notion that the RBA sets interest rates on the basis of inflation forecasts has unravelled, and it will need concrete historical data to justify any future hikes.

Qantas dodges a brand bump
Leon Gettler
Despite recent events, the Qantas brand remains in a strong position – for now. But a lot depends on how management handles the recovery and connects with customers.

TECHNOLOGY SPECTATOR: Targeting a media saviour
Charis Palmer
Digital consumer researcher and media expert Jeffrey Cole says targeted advertising, not paywalls, offers the best hope for a turnaround of media fortunes.

Budgeting for a jobs scare
Steve Keen
Roy Morgan's receding unemployment figures are more reliable than ABS data. But if the bureau numbers confirm the trend of a fall, Canberra's budget surplus will go out the window.