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Though President Barack Obama's on-the-ground diplomacy on the final day of the summit produced what came to be called the Copenhagen Accord, there are more than a few environmentalists who believe the conference was a failure. That may be going too far. A three-page, nonbinding agreement that wasn't fully accepted by all of the nations in attendance may be a diplomatically flimsy thing, but it does hold real promise. Major developed and developing countries agreed that by Jan. 31 they will submit their emissions-reduction plans - plans that will be crucial in pushing the world...
...There is no doubt that the pressure on the U.S. financial system [that led to the financial crisis] came from abroad," says Caballero, who is the head of MIT's economics department. "Foreign investors created a demand for assets that was difficult for the U.S. financial sector to produce. All they wanted were safe assets, and [their ensuing purchases] made the U.S. unsafe." (See the financial crisis after one year...
...There is a crack in the U.S. financial system, but it's important to ask where the water that caused the crack came from," says Caballero. "The only way to really make the U.S. system resilient to systemic shocks is to fix the supply side...
...came to his senses on that cold Tuesday evening in his New Jersey home, Arbuthnott begrudgingly tuned in to CNN. Moments later, he snapped into rapt attention...
...Finally, on Wednesday, as the clock ticked down on Turkey's ultimatum, Ayalon came out with a full, written formal apology that satisfied the Turkish Foreign Ministry. "I had no intention to humiliate you personally and apologize for the way the démarche was handled and perceived," he wrote. "Please convey this to the Turkish people for whom we have great respect ... Although we have our differences of opinion on several issues, they should be discussed and solved only through open, reciprocal and respectful diplomatic channels between our two governments...