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German Chancellor Angela Merkel has defied France and the IMF, refusing to modify Germanys strategy of export reliance or boost growth to help alleviate the deep crisis sweeping Southern Europe.
Angela Merkel defies IMF and France as anger rises over German export surplus
Greece has upped the ante in an escalating game of brinkmanship, threatening to turn to the International Monetary Fund for support unless EU leaders come up with an acceptable rescue package at their next summit on March 25.
Greece threatens to call in IMF as Europe dithers
The European Commission's outspoken financial markets chief tightened his regulatory grip yesterday, saying tough new rules to crack down on debt speculators would be unveiled as early as June.
EU's Michel Barnier cracks down on debt speculators
Despite the global recession, China's economy has been growing strongly and, reports the World Bank, is expected to accelerate its already impressive expansion over the next few years. Investment was again the driving force in the economy, but there are disturbing signs that some of the monetary stimulus may have fed a real estate bubble. If that bubble were to burst to might have a catastrophic effect on China's prospects, as it did in Japan two decades ago, ushering an era of stagnation.
Real estate bubble threatens resurgent Chinese economy