As Greece wonders whether its debt crisis will eventually spell its exit from the euro, one town in the centre of the country, Volos, has formed an alternative local currency A few months ago, an alternative currency was introduced in the Greek port city of Volos. It was a grass-roots initiative that has since grown into a network of more than 800 members, in a community struggling to afford items
WASHINGTON — Two years ago, President Obama popped a surprise into his State of the Union address: His administration would double American exports in five years, helping to create two million jobs. The bold promise sent the eyebrows of economists and policy experts upward, even as they applauded its intent. “How will he perform this miracle?” Leslie H. Gelb, president emeritus of the Council on F
BEIJING — China and Japan have agreed to start direct trading of their currencies, officials announced during a visit here on Monday by Japan’s prime minister, Yoshihiko Noda. Japan will also apply to buy Chinese bonds next year, allowing it to accumulate more renminbi in its foreign-exchange reserves. The moves were among several that emerged from Mr. Noda’s meetings with President Hu Jintao, whi
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