Word: european
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...Several European leaders who will host Obama are likely to use their meetings with the U.S. President to smooth the political waters at home. In Britain, amid rising unemployment, Brown faces daunting approval ratings and new elections in just over a year. In Germany, Angela Merkel's governing coalition is coming under increasing strain, with elections just six months away. And then there are the street protesters who will be vying for the spotlight. Large protests - against everything from capitalism to the structure of bank bailouts - are planned for both London and Strasbourg...
...informal body that groups together not just the leading advanced industrial economies, who have their own club in the G-8, but also "emerging market" nations such as India and China, together with middle-income economies such as South Korea and Mexico. Together, the 19 nations (plus the European Union, which explains the 20 - though the World Bank and IMF are also members of the G-20, just to confuse things) account for about 90% of world GDP, 80% of world trade and two-thirds of the world's population...
...balance sheets and unwind the massively leveraged positions they took in the past 10 years. To put some heft back into the economy, the IMF has recommended an injection of demand equivalent to 2% of world output. The U.S. has taken the lead on a stimulus package, but some European nations - which tend to be wary of long-term national budget deficits - have balked at the size of the new resources required...
...intertwined that a collapse of a financial institution in one country can have a knock-on effect around the world. The summiteers will discuss global regulation not just of conventional commercial banks, but also of other parts of the financial system like hedge funds - a key European demand. They probably won't get far - this time...
...Afghanistan issue is likely to be viewed by the new White House as a litmus test of whether Europeans can be taken seriously as strategic partners. Poll after poll in France, Germany and even Britain shows the European public want troops to be pulled out and less money spent on Afghanistan. Obama's hoping for more help...