15 10 / 2011
UK’s Osborne: euro zone must deliver something “impressive”
Finance ministers and central bankers gathered in Paris for
a meeting of the G20 group had told their euro zone counterparts
to provide a detailed solution to the currency bloc’s woes at an
Oct. 23 summit of European Union leaders in Brussels, Osborne
said.”We have heard from euro zone colleagues the action they are
working on but I think they will have left Paris under no
misunderstanding that there is a huge amount of pressure on them
to deliver a solution to the crisis,” he told reporters during a
break in the meetings.”(The crisis) remains the epicentre of the world’s current
economic problems. And the 23 October European Council is
clearly the moment when people are expecting something quite
impressive,” Osborne said.Any solution to the debt crisis in the euro zone would need
to involve recapitalising weaker euro zone banks, resolving
Greece’s debt problems and “maximising the firepower” of the
European Financial Stability Facility rescue fund, Osborne said,
without providing details.Britain was open to providing extra money for the
International Monetary Fund, but not if it was used to set up a
special vehicle that would only benefit euro zone countries,
Osborne added.”The IMF should remain an institution focused on the global
economy and supporting economies around the world, rather than
creating a specific vehicle just to assist the Europeans,” he
said. “Additional IMF resources must not be a substitute for the
euro zone committing its own resources to supporting its own
currency.”
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12 10 / 2011
Australia court stops sale of Samsung tablets in Apple dispute
The Federal Court’s decision threatens to sink the viability
of Samsung’s Galaxy 10.1 tablet in the Australian market, as it
is bound to miss the Christmas gift-giving season there, and
comes ahead of hearings in the United States, South Korea and
the Netherlands.
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