Word: consensuses
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...into the premier international currency. Then a U.N. panel of economists led by Joseph Stiglitz, the Nobel laureate, concluded that a reformed financial system with a new No. 1 international currency would help bring greater strength and equity to the global economy. Stiglitz told reporters there was a "growing consensus that there are problems with the dollar reserve system," which he described as "relatively volatile, deflationary [and] unstable." (See 25 people to blame for the financial crisis...
...international relations repeatedly frustrated by the harsh reality of how hard the job is. Despite new agreements for international support of the war effort in Afghanistan, victory against Al Qaeda remains a distant, difficult, long-range goal, with the military onus remaining on U.S. combat troops. Furthermore, a consensus of economic observers advise that the economic crisis, though mollified by some international confidence-building agreement, is unlikely to be solved quickly by the actions taken by the G20. (See TIME's photos of "Obama's Travels in Europe...
...Prime Minister Taro Aso left for this week's G-20 summit in London, he said at a news conference that he "intended to exert leadership" to bring about concrete, coordinated international efforts to fight the global economic crisis. Now that the summit is being heralded as a success - consensus was reached on plans to clean up banking systems and world leaders pledged more than $1 trillion to support impoverished countries - there's evidence that Japan's embattled Prime Minister may have had an impact...
...night, after the G-20 summit ended, Obama took so many questions from the foreign press, including British, Indian and Chinese reporters, that a group of them applauded when he left the stage. Two American reporters asked Obama for his response to the claim by Brown that the "Washington consensus is over." Obama all but agreed with Brown, noting that the phrase had its roots in a significant set of economic policies that had shown itself to be imperfect. He went on to talk about the benefits of increasing economic competition with the U.S. "That's not a loss...
...American officials tell it, the real hero of the hour, proving his mettle at his first summit, was President Barack Obama. The remaining point of disagreement, which threatened until the last minute to derail the consensus so devoutly wished for by all parties, centered on tax havens. Sarkozy was determined that a list of tax havens that refuse to provide information to foreign tax authorities on request should be published immediately by the Organization for Economic Co-operation and Development (OECD) as part of a clampdown on such havens. China, not a member of the OECD, was stalling because...