You mentioned that the IMF has always been repaid in interest, but could the fact that the IMF hasn't done anything substantial yet signify that they don't think the EU could or for that matter be willing to repay such a loan from the IMF?

If they aren't than you are asking them to do something outside their comfort zone which seems to me why they are hesitant.

INDIANAPOLIS — It’s becoming a recurring pattern: The more supporters of Mitch Daniels attempt to pump him up, the less he appears to want to run for president.

At a state Republican Party dinner here Thursday night, Daniels backers thronged a hotel ballroom, waved signs that read “Run, Mitch, Run,” and rose to their feet to chant the same after watching a slick video extolling the two-term Indiana governor’s accomplishments.
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Cue the cold shower.

Talking to reporters after more than a thousand of his fellow Hoosiers beseeched him to get in the race, Daniels praised the current GOP presidential field and said he could easily back any number of them.

He also suggested he could find another way to give back without being in the White House, and channeled onetime presidential hopeful Haley Barbour about the grim long-term implications of a run.

“You have to decide if this is really the way you want to spend maybe the rest of your life, and is it the right thing for your family,” the governor said.

Whatever he decides, Republicans want Daniels to make up his mind soon. After months of hoping fervently that he would come to the rescue of a party establishment casting about for an alternative to Mitt Romney, GOP insiders are beginning to grumble about the governor’s Hoosier Hamlet routine.

Daniels said he’s “played with the cards face up all along,” indicating that he’d only consider the possibility after his legislative session wrapped up at the end of April.

But from his self-assessment that he was not ready to debate President Barack Obama on foreign policy to the lengths he went to downplay an education speech he gave in Washington last week, Republicans are beginning to wonder whether he’s just taking self-deprecation to an extreme or is genuinely unenthused about running.

Either way, the comments of Daniels and his family suggest his decision has come down entirely to personal considerations. It’s not simply a question of whether he can convince his wife, Cheri, who has been open about her qualms about the prospect. In talking separately to reporters after the dinner here, the governor and Indiana’s first lady brought up the impact a run may have on their four 20-something daughters.

“It’s not just me,” Cheri Daniels said. “I have four daughters, and I have three sons-in-law, and everybody has a voice.”

“You ought not underestimate the fact that there’s not one woman involved — there’s five,” Gov. Daniels said, standing just a few paces away from his wife in the hotel ballroom where the event was held. “Everybody’s view matters with something like this because it would affect everyone.”

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I read a news that I like to share with readers as according to this post for global economy.
Tunisia's new President Moncef Marzouki joined flag-waving crowds in Sidi Bouzid in commemoration.

Fruitseller Mohamed Bouazizi's suicide sparked a wave of unrest which swept from Sidi Bouzid across the Arab world.

He was rushed to hospital in a coma with 90% burns, and died on 5 January.

"Thank you to this land, which has been marginalised for centuries, for bringing dignity to the entire Tunisian people," said Mr Marzouki, who was named president earlier this week, after Tunisia's first free elections in October.

Thousands of people carrying flags and pictures of Bouazizi and other dead protesters had flocked from around the country for the anniversary in the under-developed town.

As a breakup of the eurozone -- a once seemingly impossible scenario -- becomes increasingly likely, economists are starting to sketch out what a post-euro world would look like. Many are warning that if political leaders don't change course, a breakup of the eurozone would plunge the United States and the rest of the world into a slowdown and possibly another recession.

"If Europe turns out badly, it's much more likely we'll go into recession," said Michael Spence, a Nobel Prize-winning economist at the New York University Stern School of Business. "If you take a big chunk like Europe and turn it down, it would probably bring everybody else down, including us."

If the eurozone dissolves, the European banking system would likely collapse, economists said, plunging the continent into recession, which would keep European consumers from buying. Decreased demand from the continent, which represents about 20 percent of the global economy, would hurt both the United States and emerging countries, who depend on European banks not just for demand, but also for funding.

The risk of a eurozone breakup has increased dramatically over the past couple of weeks, as countries have faced increasing difficulty selling their debt. Interest rates on sovereign bonds issued by eurozone countries have spiked. The interest rate on 10-year Italian sovereign bonds rose to 7.28 percent Monday, nearly hitting a Nov. 9 euro-era high that was only eased afterward by limited bond purchases by the European Central Bank.

The interest rate on 10-year Spanish sovereign bonds rose to 6.58 percent Monday, near the euro-era high reached on Nov. 17. Interest rates on the 10-year bonds of more fiscally sound countries, such as France and Belgium, spiked to 3.58 percent and 5.59 percent respectively on Monday, as the contagion of higher borrowing costs spread to across the eurozone, regardless of their economic fundamentals.

If European leaders don't agree to take bold economic measures for more fiscal integration -- including allowing the European Central Bank to become the lender of last resort -- the eurozone could start to unravel, said Simon Tilford, chief economist of the Center for European Reform in London.

The eurozone's future could be decided next week when leaders meet for a summit on the sovereign debt crisis on December 9. If they leave empty-handed, Tilford said, fearful depositors could pull their money out of European banks en masse, causing European banks to fail. In a "vicious death spiral," said Tilford, troubled European countries would stop being able to borrow money as borrowing costs reach unsustainable levels. Then a string of European countries could default and leave the eurozone, leading to its collapse, he said.

A number of other triggers could force a eurozone break up. In one scenario described by economists, a troubled eurozone country such as Italy could be forced to default if it is not able to roll over all of its debt at its next bond auction, forcing the country to leave the eurozone soon thereafter. In another possibility, interest rates on sovereign debt could reach unsustainable levels, forcing troubled countries to default on their debts. In addition, the Greek people could pressure their political leaders to leave the eurozone in order to regain political sovereignty from European leaders in France and Germany.

"Given that Greece is a democracy, at some point I think the Greek people are going to decide this is not the right way to go," said Christopher Low, chief economist at FTN Financial, who said that there is a 40 percent chance of a complete breakup of the eurozone. "It's a nasty recession to begin with, and they [political leaders] are talking about making it even worse."

Leaving the euro would give Greece a chance to grow its way out of its current predicament, similar to the way that Argentina's economy grew after abandoning its currency's peg to the U.S. dollar in the 1990s, Low said. With cheaper exports under a devalued currency, Greece would be able to sell more of its goods and services abroad, he said.

But abandoning the euro would not be without its troubles. If Greece left the euro, its banking sector would likely collapse, and Greek companies that borrowed from other eurozone countries would likely default since the debt -- valued in euros -- would become too expensive to pay off, said Jurgen Odenius, the chief economist at Prudential Fixed Income. The Greek government would also be forced to slash spending to the point where there would be no more deficit, Odenius said, and would likely have trouble seeking outside loans, pushing Greece into a much deeper recession.

"This would make for a nuclear meltdown, as far as Greece is concerned," Odenius said.

But for some countries, leaving the euro may be unavoidable, some economists said. Devaluing their own currencies would boost the competitiveness of their exports, allowing countries to grow and pay down their debts, Tilford said. Since countries such as Greece and Portugal have "very weak economic growth prospects ... they need a weaker currency," Tilford said. If they can no longer borrow money, they effectively would be forced to default on their debts and leave the euro, he said.

A breakup of the eurozone would cause several negative repercussions for the U.S. economy and emerging economies in particular, Tilford said. As investors flee for safety in the United States, the value of the U.S. dollar would rise, making U.S. exports more expensive around the world and causing their sales to fall, he said. American banks would be forced to swallow major losses on European investments and would lend less, he said -- though the Federal Reserve would likely prevent them from failing by becoming their lender of last resort.

American investments in Europe generally would plunge in value, Tilford said. As of the end of 2009, U.S. direct investment in Europe totaled $1.98 trillion, according to the Congressional Research Service. The negative blow to U.S. confidence would generally curtail risk-taking and investments in the U.S., Tilford said.

Emerging economies would also experience a sharp slowdown because they are dependent on Europe for both financing and consumer demand for their goods, Tilford said. European banks provide about three-quarters of all loans to emerging markets, according to Tilford, and a breakup of the eurozone would cause many European banks to either fail or slash lending.

If the eurozone breaks up, a cloud of uncertainty would likely hang over Europe as long as companies struggle to work out contracts that were done in euros, Tilford said.

"How on earth do you untangle all the contracts? Because they are all in a currency that would cease to exist," he said. "They would need to clarify who owns what and under what currency if capital is going to return to Europe."Tunisia's new President Moncef Marzouki joined flag-waving crowds in Sidi Bouzid in commemoration.

Fruitseller Mohamed Bouazizi's suicide sparked a wave of unrest which swept from Sidi Bouzid across the Arab world.

He was rushed to hospital in a coma with 90% burns, and died on 5 January.

"Thank you to this land, which has been marginalised for centuries, for bringing dignity to the entire Tunisian people," said Mr Marzouki, who was named president earlier this week, after Tunisia's first free elections in October.

Thousands of people carrying flags and pictures of Bouazizi and other dead protesters had flocked from around the country for the anniversary in the under-developed town.

As a breakup of the eurozone -- a once seemingly impossible scenario -- becomes increasingly likely, economists are starting to sketch out what a post-euro world would look like. Many are warning that if political leaders don't change course, a breakup of the eurozone would plunge the United States and the rest of the world into a slowdown and possibly another recession.

"If Europe turns out badly, it's much more likely we'll go into recession," said Michael Spence, a Nobel Prize-winning economist at the New York University Stern School of Business. "If you take a big chunk like Europe and turn it down, it would probably bring everybody else down, including us."

If the eurozone dissolves, the European banking system would likely collapse, economists said, plunging the continent into recession, which would keep European consumers from buying. Decreased demand from the continent, which represents about 20 percent of the global economy, would hurt both the United States and emerging countries, who depend on European banks not just for demand, but also for funding.

The risk of a eurozone breakup has increased dramatically over the past couple of weeks, as countries have faced increasing difficulty selling their debt. Interest rates on sovereign bonds issued by eurozone countries have spiked. The interest rate on 10-year Italian sovereign bonds rose to 7.28 percent Monday, nearly hitting a Nov. 9 euro-era high that was only eased afterward by limited bond purchases by the European Central Bank.

The interest rate on 10-year Spanish sovereign bonds rose to 6.58 percent Monday, near the euro-era high reached on Nov. 17. Interest rates on the 10-year bonds of more fiscally sound countries, such as France and Belgium, spiked to 3.58 percent and 5.59 percent respectively on Monday, as the contagion of higher borrowing costs spread to across the eurozone, regardless of their economic fundamentals.

If European leaders don't agree to take bold economic measures for more fiscal integration -- including allowing the European Central Bank to become the lender of last resort -- the eurozone could start to unravel, said Simon Tilford, chief economist of the Center for European Reform in London.

The eurozone's future could be decided next week when leaders meet for a summit on the sovereign debt crisis on December 9. If they leave empty-handed, Tilford said, fearful depositors could pull their money out of European banks en masse, causing European banks to fail. In a "vicious death spiral," said Tilford, troubled European countries would stop being able to borrow money as borrowing costs reach unsustainable levels. Then a string of European countries could default and leave the eurozone, leading to its collapse, he said.

A number of other triggers could force a eurozone break up. In one scenario described by economists, a troubled eurozone country such as Italy could be forced to default if it is not able to roll over all of its debt at its next bond auction, forcing the country to leave the eurozone soon thereafter. In another possibility, interest rates on sovereign debt could reach unsustainable levels, forcing troubled countries to default on their debts. In addition, the Greek people could pressure their political leaders to leave the eurozone in order to regain political sovereignty from European leaders in France and Germany.

"Given that Greece is a democracy, at some point I think the Greek people are going to decide this is not the right way to go," said Christopher Low, chief economist at FTN Financial, who said that there is a 40 percent chance of a complete breakup of the eurozone. "It's a nasty recession to begin with, and they [political leaders] are talking about making it even worse."

Leaving the euro would give Greece a chance to grow its way out of its current predicament, similar to the way that Argentina's economy grew after abandoning its currency's peg to the U.S. dollar in the 1990s, Low said. With cheaper exports under a devalued currency, Greece would be able to sell more of its goods and services abroad, he said.

But abandoning the euro would not be without its troubles. If Greece left the euro, its banking sector would likely collapse, and Greek companies that borrowed from other eurozone countries would likely default since the debt -- valued in euros -- would become too expensive to pay off, said Jurgen Odenius, the chief economist at Prudential Fixed Income. The Greek government would also be forced to slash spending to the point where there would be no more deficit, Odenius said, and would likely have trouble seeking outside loans, pushing Greece into a much deeper recession.

"This would make for a nuclear meltdown, as far as Greece is concerned," Odenius said.

But for some countries, leaving the euro may be unavoidable, some economists said. Devaluing their own currencies would boost the competitiveness of their exports, allowing countries to grow and pay down their debts, Tilford said. Since countries such as Greece and Portugal have "very weak economic growth prospects ... they need a weaker currency," Tilford said. If they can no longer borrow money, they effectively would be forced to default on their debts and leave the euro, he said.

A breakup of the eurozone would cause several negative repercussions for the U.S. economy and emerging economies in particular, Tilford said. As investors flee for safety in the United States, the value of the U.S. dollar would rise, making U.S. exports more expensive around the world and causing their sales to fall, he said. American banks would be forced to swallow major losses on European investments and would lend less, he said -- though the Federal Reserve would likely prevent them from failing by becoming their lender of last resort.

American investments in Europe generally would plunge in value, Tilford said. As of the end of 2009, U.S. direct investment in Europe totaled $1.98 trillion, according to the Congressional Research Service. The negative blow to U.S. confidence would generally curtail risk-taking and investments in the U.S., Tilford said.

Emerging economies would also experience a sharp slowdown because they are dependent on Europe for both financing and consumer demand for their goods, Tilford said. European banks provide about three-quarters of all loans to emerging markets, according to Tilford, and a breakup of the eurozone would cause many European banks to either fail or slash lending.

If the eurozone breaks up, a cloud of uncertainty would likely hang over Europe as long as companies struggle to work out contracts that were done in euros, Tilford said.

"How on earth do you untangle all the contracts? Because they are all in a currency that would cease to exist," he said. "They would need to clarify who owns what and under what currency if capital is going to return to Europe."
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Does your child hate to read? Whether he is a proficient but disinterested reader or one who struggles with words, introducing the right type of children's books can spark his enthusiasm and turn him into a lifelong reader.

Parent's Checklist
Before buying, see how your selection rates by asking yourself:

Is it the right reading level?
Discuss your child's reading abilities with his teacher. Ask which level of children's books is best for him to read on his own: easy-to-read books such as Alexander and the Terrible, Horrible, No Good, Very Bad Day; chapter books like Encyclopedia Brown; middle-grade books such as The Giver; or young adult books such as Lord of the Rings.
Is it age-appropriate?
If your child is reading below grade level but does not have a reading disability, extra practice at home should help her progress. She may hate reading because it takes her a long time to figure words out. Building her vocabulary will improve her fluency. Use books that match her skill level to boost her vocabulary.
Will she read it?
If she likes what it is about, there is a better chance that she will read it. Anything that gets your child to read for pleasure and her own information will help her build her vocabulary and sharpen critical-reasoning skills. Let your child choose her own books as long as they are not offensive and don’t cause nightmares. Encourage her to read comic books, graphic novels, entertainment news, or sports magazines if she's interested in them.

The Developmental Edge
Interest in books may start to wane as your child grows. Use this guide to select reading material that reignite a love for children's books and words.

Elementary schoolers — grades 1–5
Spend time every day partner-reading with your child. Amusing books with silly drawings and humor only a kid could love is a great way to turn reading into fun. The Captain Underpants series is good for ages 7 to 10. Try a book that was the basis for a movie he likes such as Charlie and the Chocolate Factory.
Middle schoolers — grades 6–8
Be enthusiastic about books that suit her interests even if they are not what you would have chosen. The Day My Butt Went Psycho may make you cringe, but it will keep your child reading. If she has found a series of children's books she likes, let her keep reading the other titles.

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Before the reader begins the study of the Quran, he must bear in mind the fact that it is a unique book; the Quran does not contain information, ideas and arguments about specific themes arranged in a literary order. This is why a stranger to the Quran, on his first encounter with it, is puzzled when he does not find the enunciation of its theme, or a division into chapters and sections, or a separate treatment for different topics and separate instructions for different aspects of life, arranged in a serial order. Here, rather, is something with which he has not been familiar before and which does not conform to his conception of a book.

He finds that it deals with creeds, gives moral instructions, lays down laws, invites people to Islam, admonishes the disbelievers, draws lessons from historical events, administers warnings, offers good tidings, all blended together in a beautiful manner. The same subject is repeated in different ways and one topic follows the other without any apparent connection. Sometimes a new topic crops up in the middle of another without any apparent reason. The speaker and the addressees, the direction of the address, all these change without any notice.

Historical events are presented, yet not as they would be in traditional history books. The problems of philosophy and metaphysics are treated in a manner different from that of the textbooks on these subjects. Man and the universe are mentioned in a language different from that of the natural sciences. Likewise it follows its own method of solving cultural, political, social and economic problems and deals with the principles and injunctions of law in a manner quite distinct from that of the sociologists, lawyers and jurists. Morality is taught in a way that has no parallel in the whole literature on the subject.

The Quran is not a book on "religion" in the sense this word is generally understood. That is why when a reader approaches the Quran with the common notions of a book in mind, he is puzzled by its style and manner of presentation. He finds that in many places the background has not been mentioned and the circumstances under which a particular passage was revealed have not been stated. And the casual reader is therefore unable to benefit fully from the most precious treasures contained in the Quran, though occasionally he may succeed in discovering a few gems here and there. But only those people who are not acquainted with these distinctive features of the Quran become victims of such doubts.

The reader may be saved from all these difficulties, if he is warned beforehand of this essential point: the book he is going to study is the only book of its kind in the whole world; its literary style is quite different from that of all other books. Then, and then alone, can he understand it.

Before the reader begins the study of the Quran, he must bear in mind the fact that it is a unique book; the Quran does not contain information, ideas and arguments about specific themes arranged in a literary order. This is why a stranger to the Quran, on his first encounter with it, is puzzled when he does not find the enunciation of its theme, or a division into chapters and sections, or a separate treatment for different topics and separate instructions for different aspects of life, arranged in a serial order. Here, rather, is something with which he has not been familiar before and which does not conform to his conception of a book.

He finds that it deals with creeds, gives moral instructions, lays down laws, invites people to Islam, admonishes the disbelievers, draws lessons from historical events, administers warnings, offers good tidings, all blended together in a beautiful manner. The same subject is repeated in different ways and one topic follows the other without any apparent connection. Sometimes a new topic crops up in the middle of another without any apparent reason. The speaker and the addressees, the direction of the address, all these change without any notice.

Historical events are presented, yet not as they would be in traditional history books. The problems of philosophy and metaphysics are treated in a manner different from that of the textbooks on these subjects. Man and the universe are mentioned in a language different from that of the natural sciences. Likewise it follows its own method of solving cultural, political, social and economic problems and deals with the principles and injunctions of law in a manner quite distinct from that of the sociologists, lawyers and jurists. Morality is taught in a way that has no parallel in the whole literature on the subject.

The Quran is not a book on "religion" in the sense this word is generally understood. That is why when a reader approaches the Quran with the common notions of a book in mind, he is puzzled by its style and manner of presentation. He finds that in many places the background has not been mentioned and the circumstances under which a particular passage was revealed have not been stated. And the casual reader is therefore unable to benefit fully from the most precious treasures contained in the Quran, though occasionally he may succeed in discovering a few gems here and there. But only those people who are not acquainted with these distinctive features of the Quran become victims of such doubts.

The reader may be saved from all these difficulties, if he is warned beforehand of this essential point: the book he is going to study is the only book of its kind in the whole world; its literary style is quite different from that of all other books. Then, and then alone, can he understand it.

Before the reader begins the study of the Quran, he must bear in mind the fact that it is a unique book; the Quran does not contain information, ideas and arguments about specific themes arranged in a literary order. This is why a stranger to the Quran, on his first encounter with it, is puzzled when he does not find the enunciation of its theme, or a division into chapters and sections, or a separate treatment for different topics and separate instructions for different aspects of life, arranged in a serial order. Here, rather, is something with which he has not been familiar before and which does not conform to his conception of a book.

He finds that it deals with creeds, gives moral instructions, lays down laws, invites people to Islam, admonishes the disbelievers, draws lessons from historical events, administers warnings, offers good tidings, all blended together in a beautiful manner. The same subject is repeated in different ways and one topic follows the other without any apparent connection. Sometimes a new topic crops up in the middle of another without any apparent reason. The speaker and the addressees, the direction of the address, all these change without any notice.

Historical events are presented, yet not as they would be in traditional history books. The problems of philosophy and metaphysics are treated in a manner different from that of the textbooks on these subjects. Man and the universe are mentioned in a language different from that of the natural sciences. Likewise it follows its own method of solving cultural, political, social and economic problems and deals with the principles and injunctions of law in a manner quite distinct from that of the sociologists, lawyers and jurists. Morality is taught in a way that has no parallel in the whole literature on the subject.

The Quran is not a book on "religion" in the sense this word is generally understood. That is why when a reader approaches the Quran with the common notions of a book in mind, he is puzzled by its style and manner of presentation. He finds that in many places the background has not been mentioned and the circumstances under which a particular passage was revealed have not been stated. And the casual reader is therefore unable to benefit fully from the most precious treasures contained in the Quran, though occasionally he may succeed in discovering a few gems here and there. But only those people who are not acquainted with these distinctive features of the Quran become victims of such doubts.

The reader may be saved from all these difficulties, if he is warned beforehand of this essential point: the book he is going to study is the only book of its kind in the whole world; its literary style is quite different from that of all other books. Then, and then alone, can he understand it.

Before the reader begins the study of the Quran, he must bear in mind the fact that it is a unique book; the Quran does not contain information, ideas and arguments about specific themes arranged in a literary order. This is why a stranger to the Quran, on his first encounter with it, is puzzled when he does not find the enunciation of its theme, or a division into chapters and sections, or a separate treatment for different topics and separate instructions for different aspects of life, arranged in a serial order. Here, rather, is something with which he has not been familiar before and which does not conform to his conception of a book.

He finds that it deals with creeds, gives moral instructions, lays down laws, invites people to Islam, admonishes the disbelievers, draws lessons from historical events, administers warnings, offers good tidings, all blended together in a beautiful manner. The same subject is repeated in different ways and one topic follows the other without any apparent connection. Sometimes a new topic crops up in the middle of another without any apparent reason. The speaker and the addressees, the direction of the address, all these change without any notice.

Historical events are presented, yet not as they would be in traditional history books. The problems of philosophy and metaphysics are treated in a manner different from that of the textbooks on these subjects. Man and the universe are mentioned in a language different from that of the natural sciences. Likewise it follows its own method of solving cultural, political, social and economic problems and deals with the principles and injunctions of law in a manner quite distinct from that of the sociologists, lawyers and jurists. Morality is taught in a way that has no parallel in the whole literature on the subject.

The Quran is not a book on "religion" in the sense this word is generally understood. That is why when a reader approaches the Quran with the common notions of a book in mind, he is puzzled by its style and manner of presentation. He finds that in many places the background has not been mentioned and the circumstances under which a particular passage was revealed have not been stated. And the casual reader is therefore unable to benefit fully from the most precious treasures contained in the Quran, though occasionally he may succeed in discovering a few gems here and there. But only those people who are not acquainted with these distinctive features of the Quran become victims of such doubts.

The reader may be saved from all these difficulties, if he is warned beforehand of this essential point: the book he is going to study is the only book of its kind in the whole world; its literary style is quite different from that of all other books. Then, and then alone, can he understand it.

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Either way, the comments of Daniels and his family suggest his decision has come down entirely to personal considerations. It’s not simply a question of whether he can convince his wife, Cheri, who has been open about her qualms about seslichat the prospect. In talking separately to reporters after the dinner here, the governor and Indiana’s first lady brought up the impact a run may have on their four 20-something daughters.

Morality is accomplished in a way that has no alongside in the accomplished abstract on the subject.Historical contest are presented, yet not as they would be in acceptable history books.

The problems of aesthetics and aesthetics are advised in a address altered from that of the textbooks on these subjects. Man and the cosmos are mentioned in a accent altered from that of the accustomed sciences. Likewise it follows its own adjustment of analytic cultural, political, amusing and bread-and-butter problems and deals with the attempt and injunctions of law in a address absolutely audible from that of the sociologists, attorneys and jurists.