The Great Global Bargain Hunt
Given the global menace posed by Europe’s sovereign-debt and banking crises, measures to strengthen the European banking system and encourage fiscal integration gained some momentum at the recent G-20 summit in Los Cabos, Mexico. But some countries, notably China, have seen Europe's agony as an opportunity to go shopping.
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TOKYO – Few recent elections have grabbed world attention in the way that Greece’s vote on June 17 did. Now that the center-right New Democracy, which finished first, has formed a coalition government with the center-left PASOK and the Democratic Left, the key issue for Prime Minister Antonis Samaras’s administration is whether it can implement the austerity measures agreed with Greece’s eurozone partners in exchange for continued support from the International Monetary Fund and the European Union.