Jun 24, 2012

Taming the danger from Europe

The leaders of the Group of 20 major economies, at their June 18-19 summit in Los Gabos, Mexico, adopted a declaration emphasizing the need to resolve the European financial crisis, among other things. The declaration in part said that “Euro Area members of the ...

Jun 15, 2012

Direct yen-yuan trade

On June 1, new currency markets opened in Tokyo and Shanghai for direct trading between the Japanese yen and the Chinese yuan. The direct trading of the two currencies has been motivated largely by the instability of the main currencies such as the U.S. ...

Jan 16, 2012

British influence and the EU

by Hugh Cortazzi

At the European crisis summit in December, David Cameron was snubbed by his European colleagues. His “veto” on accepting treaty changes believed by other members to be necessary to save European economies left Britain isolated. All the other 26 countries were prepared to enter ...

Jan 12, 2012

A way out of the debt crisis

Loss of confidence in the financial conditions of eurozone countries with mounting debts has destabilized financial markets, and the uncertainty now threatens to put the global economy in jeopardy. Amid the crisis, Chancellor Angela Merkel of Germany and President Nicolas Sarkozy of France met ...