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...which expired in March, is a remnant of former Prime Minister Junichiro Koizumi's era of reforms in the late 1990s and early 2000s, when the government recapitalized and even nationalized some of its major banks after real estate and stock-market bubbles burst. The government says it currently plans to take a localized approach to intervention to make sure weaknesses it sees chiefly in regional banks don't develop into a systemic infection. Japan's regional banks don't appear to be facing an immediate crisis, say economists, but the government wants to be prepared. "It's a safety...

Author: /time Magazine | Title: Japan Moves to Protect its Financial System | 10/16/2008 | See Source »

...getting impatient with market still fearful despite the $2 trillion plan announced by the 15 eurozone countries to buck up banks and credit systems. "We should stop looking at stock market activity the way a mouse watches a cat, and start thinking in the medium-term," the Luxembourg Prime Minister Jean-Paul Juncker told German radio Deutschlandfunk. Belying his own maxim, however, Juncker suggested additional efforts European governments may be planning to make should "impress the financial markets...

Author: /time Magazine | Title: Recession Fears Drive World Markets Starkly Downward | 10/16/2008 | See Source »

...Their concerns were echoed by Italian Prime Minister Silvio Berlusconi, who warned the financial burden of crashing markets and imminent recession had rendered the emissions targets unattainable. "We do not think that now is the time to be playing the role of Don Quixote, when the big producers of CO2, such as the United States or China, are totally against adherence to our targets," he said, promising to veto the deal...

Author: /time Magazine | Title: Is Europe Backsliding on Climate-Change Targets? | 10/16/2008 | See Source »

Both countries have used the temple row for political purposes. In his successful re-election bid this summer, Cambodian Premier Hun Sen vowed to protect national interests by ensuring that the entire Preah Vihar area remained under Cambodian control. Meanwhile, in Thailand, opposition figures accused former Prime Minister Samak Sundaravej of destroying national sovereignty by not immediately protesting UNESCO's decision. Samak resigned last month, and his successor, who hails from the same political party, will surely be accused of similar weakness if Thailand's troops don't match Cambodian numbers. On Wednesday, Thailand's military T.V. network showed Thai...

Author: /time Magazine | Title: Thai-Cambodian Border Spat Heats Up | 10/15/2008 | See Source »

...whistling during the anthem was a form of protest, the perpetrators would have awoken disappointed on Wednesday, as they found themselves subjected to a torrent of outrage. "Those who want to [jeer] a national anthem should be banned from the matches they've come to watch," scolded French Prime Minister François Fillon...

Author: /time Magazine | Title: Booing the Marsellaise: A French Soccer Scandal | 10/15/2008 | See Source »

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