Word: european
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...safe distance of a 20-point poll advantage. Then came convulsions in the global economy. The scramble to avert meltdown drove Labour rebels into retreat, halved the Tory lead and granted Brown more than just a reprieve from domestic woes. As Congress bickered over the U.S. bailout and European leaders vacillated between a unified response and defending national interests, the old, beaten Brown shuffled off stage. Into the limelight stepped New Brown, pitch-perfect in his Churchillian gravitas, a crisis leader for Britain and the world...
...Downing Street phones ring off the hook as policymakers and financiers vie for a few minutes of his wisdom. When he's not doling out advice, he's meeting with his economic "war cabinet," or giving speeches and blitzing every conceivable media outlet. He has traveled to the European Council in Brussels and before that to Paris for an emergency summit of euro-zone countries - even though he refused to adopt the euro during his 10-year tenure as Chancellor of the Exchequer. With marked success, his Treasury successor, Alistair Darling, has promoted the patented Brown rescue plan...
Reflecting the Rooseveltian view that "we have nothing to fear but fear itself," global stock markets rallied Tuesday for the second straight day, amid a flurry of government moves to prevent rocked financial and banking systems from collapsing. Less than a day after European leaders revealed a collective commitment of more than $1 trillion in capital injections and interbank loan guarantees, a 14% bound by Tokyo's Nikkei index led surges across Asia. Bourses in Europe also opened with renewed gains ahead of Wall Street's 3.8% opening spurt. Yet the burst of renewed confidence inspired sober observers to take...
...Europe, where effervescent markets got a midafternoon lift from U.S. President George W. Bush's announcement of a new government plan to inject $250 billion of capital in exchange for equity into at least nine American banks. The move to further stabilize the U.S. finance market prodded rising European indices to move still higher Tuesday afternoon, with both Paris' CAC 40 and Frankfurt's Dax up 4.5% and London's FTSE 100 up 4.9%. The trio boomed with 11.2%, 11.4% and 8.8% surges respectively during the previous session...
...effusive and stubbornly loyal Berlusconi has stuck with Bush despite the American President's abiding unpopularity in Italy. More than 80% of Italians were opposed to the war in Iraq, but their controversial Prime Minister helped spearhead the so-called "Letter of Eight" public declaration of support from some European leaders for Bush's Iraq policy in the weeks before the invasion. Following the overthrow of Saddam Hussein, Berlusconi sent 3,000 Italian peacekeeping troops to southern Iraq. During Bush's June 2004 visit to Rome, the two leaders were the target of a massive anti-war rally. But Berlusconi...