The European Union is a unique success story. Its members immediately benefitted from the end of customs barriers. After 2002, the common currency, the euro, made trading and travel within the bloc easy.
High levels of corporate, government and household debt are undermining China’s financial stability, the IMF said in a report. It urged Beijing to halt credit-fueled growth and bulk up on banks' capital reserves.
Venezuela has arrested a former minister and ex-chief of the state oil company on corruption and sabotage charges. But opposition lawmakers have warned the arrests form part of the president's plans to consolidate power.
As European Union leaders meet in Brussels for the last time this year, three major items dominate the agenda: Brexit, defense and migration. However, Emmanuel Macron's push for eurozone reforms will likely have to wait.
The International Monetary Fund (IMF) has warned about Zimbabwe's "very difficult" economic situation, saying it's threatened by high government spending, an untenable foreign exchange regime and inadequate reforms.
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