US Federal Reserve chief Janet Yellen has warned dire consequences for the global economy if Greece does not reach a deal with its creditors. Large crowds are rallying outside the Greek parliament urging the government not to back down on its promise to ease austerity measures. Greece Central Bank has warned for the first time the country could default on its massive debts and leave the European Union. 

 

“In the event there is not an agreement, I do see the potential for disruptions they could affect the European economic outlook and global financial markets.”

 

The Greens will try to set up a senate inquiry today into allegations Australian officials pay people smugglers to turn a boat back to Indonesia. Yesterday, the government refused a senate demand to produce any documents it had relating to the alleged payments, citing concerns for national security. 

 

An early morning blaze has destroyed the ?Ronaldo museum and tourism center in outback Queensland. The ?? center at Winton in the state’s west .... They managed to save some adjoining buildings but the main complex and many of the historic place has been destroyed.

 

Federal government will spell out its vision for northern Australia today. The Prime Minister will release the long-awaited white paper looking at ways to turn the region to into an economic powerhouse. There will be 600 million roads package and 200 million dollars for water infrastructure.