Daily Archives: November 28, 2011

GERMANY and France stepped up a drive on Monday for coercive powers to reject eurozone members’ budgets that breach EU rules, as a market rout of European debt eased temporarily on hopes of outside help for Italy and Spain.

The OECD rich nations’ economic think-tank said the European Central Bank should cut interest rates and abandon its reluctance to step up purchases of government bonds to restore confidence in the euro area, which now posed the main risk to the world economy.

A WORLD away from the chaos, violence and abuses of elections under Hosni Mubarak’s rule, Egyptian voters queued in huge, orderly lines on Monday, many still in disbelief that they could now play a part in shaping their nation’s future.

Some brought their children. Others clutched briefcases on their way to work. Around them banners fluttered for parties banned under Mubarak, who was swept away by a popular uprising in February after 30 years of one-man rule.

Many Egyptians suspect the generals who replaced Mubarak want to wield power behind the scenes even after handing day-to-day government to civilians, and some fear vote rigging will resurface. But on Monday most people were simply enjoying what for many was the first time they had bothered to vote.

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