economic diplomacy

Whatever the fate of the euro, the prevarication and long arguments over how to help it have damaged the EU in at least four ways...a tardy and muddled response to the euro crisis has greatly tarnished the EU’s soft power and global standing.

In a joint statement issued in Seoul yesterday following a summit held at president's office at Cheong Wa Dae, Prime Minister Sheikh Hasina and Korean President Lee Myung-bak agreed to boost economic ties and cultural exchanges between the two countries.

After months of uncertainty with regard the Greek economy, the May 10 creation of a nearly-$1 trillion emergency funding facility to stabilize the euro gave markets a positive jolt and some reassurance over the short-term future of Greek debt...This recent action is only a temporary solution to the much larger problem of public deficits in Europe, and many long-term concerns remain about the future of the euro and the euro zone.

Belgian Prime Minister Yves Leterme says the creation of a European Union foreign minister — the job currently held by the U.K.'s Catherine Ashton — has freed him up to conduct what he calls "economic diplomacy."

How countries are adapting foreign policy strategies and public diplomacy resources in today's globalized environment. 

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