Word: nationalizes
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Prompted by the tax evasion scandal, the Swiss are now in the middle of a national re-examination of banking industry regulations. An increasing number of voices are speaking up against banking secrecy, which, under the current law, can only be lifted if a client is suspected of defrauding tax authorities, rather than merely not declaring all assets. Recent polls show that 56% of Swiss now support helping foreign countries identify tax evaders, up from just 20% last year. Even some ministers and bankers agree that changes to the 75-year-old law might be necessary to avoid continued pressure...
...liberalization of China's business may recede to some extent because the recession will cause the level of government support for the economy to grow to keep GDP from contracting. The nation's prime minister says GDP will grow 8% this year, which seems nearly impossible. But if the government does have to offer financial support to the banks and industry, it will certainly come with some strings attached and may even cause the central government to take larger shares in businesses that it had planed to privatize...
...faces both large deficits and the need to take de facto control of parts of the credit, financial, and industrial sectors. In effect, the amount of the nation's economic activity controlled by the government will rise to a level which would have been unimaginable even months...
...undermined by several enduring controversies. Supporters say lasting peace demands justice. They point to the arrest and conviction of Sierra Leone's warlords in a joint UN-Sierra Leonean process, which has not restarted that nation's conflict. Opponents, for their part, cite the 2005 indictment of Ugandan militia leader Joseph Kony, which led him to spurn talks...
...timeless scene of young men bowling and batting through the mist rising off a well-tended pitch. They were bearded and wore their trousers hiked up above their ankles - in the manner of the Prophet Muhammad. Even foreigners are touched by cricket mania. Afghanistan, never a cricket-playing nation, is well on its way to the 2011 World Cup through the skills acquired by players who grew up in Pakistani refugee camps near the border...