In an effort to better Greece's international image, the country's Department of Foreign Affairs has stated it will strengthen ties with the Greek diaspora to fend off the stigma of 'Grexit' to a more appropriate 'Greform' (Greek reform), following the effects of its economic crisis.

Some Caribbean and Central American countries are bracing for cutbacks in shipments of cut-rate oil from Venezuela, as Caracas struggles with sliding crude prices and a spiraling economic crisis.

The political, business and academic elites at the World Economic Forum expressed renewed optimism at the global economy, with more liquidity, more unity in Europe and the fiscal cliff scaled by U.S. politicians. But other risks – especially that of not doing enough to combat persistent corruption – are emerging as new threats to a fragile global economy beset by challenges.

Canada will be able to "punch above its weight" at the G20 summit as a result of the country's reputation as a strong performer during the recession, say some observers.

Following a strong rebound of key industry sectors like building and construction and IT after the 2008 financial crisis Korea’s economy asserted itself as having a stable and adaptable foundation leading to a positive nod by the IMF... This is undoubtedly a boost to the nation branding effort.

For Clinton, who came into office vowing to promote U.S. "smart power" by ramping up both U.S. aid and civilian engagement around the world, the threatened downscaling of U.S. involvement is both dangerous and disappointing.

"We know nothing about the form of future tragedy," German playwright Botho Strauss once wrote. But that isn't true any longer. Now we can picture the form of our tragedy -- all we have to do is watch it on YouTube. The images of the London riots are a preview of our future.

It remains to be seen how Europe will solve the many questions posed by continuing migratory flows...But if it wants to keep its “soft power” and “transformational value” as part of efforts to effect change in its neighbourhood, any policy will have to be in line with the EU’s much trumpeted core values and principles.