For details, see footnote 8 of the May issue of the Monthly Report of Recent Economic and Financial Developments, released by the Bank of Japan on May 25, 2010. BIS Review 106/2010  5  the fiscal deficit problem in some European countries arises from the difficulties of an economic system based on a common currency, the euro.
In the era of globalization, the debate on inclusive growth has quite naturally acquired international dimensions too. Is a world order in which some countries prosper while others get left behind sustainable? If not, what are the obligations and responsibilities of rich countries, and of poor countries?