The week ahead

tauringhuang.

Sep 21st 2008
From Economist.com

Iran's president addresses the UN, America mulls the Wall Street rescue plan, and other news

AFP
• WALL STREET will hope for a quieter week after the upheavals of the past days. Investors and financiers will mull over the $700-billion rescue package proposed by the Bush administration. Under the plan the Treasury will take over responsibility for a huge swathe of the bad debts in the American mortgage market and so remove the troublesome loans from the books of embattled American financial institutions. The administration, Treasury and Federal Reserve will hope that the hugely costly plan restores sanity to a financial system in crisis.

For background, see article

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• THE race to lead Japan’s Liberal Democratic Party is decided on Monday September 22nd. The new leader of the ruling coalition will automatically become prime minister at a special session of the Diet (parliament) on Wednesday. The leadership contest was sparked by the resignation of Yasuo Fukuda at the beginning of September. Taro Aso, the LDP secretary-general and a former foreign minister is a firm favourite to win. But four others have put themselves forward, including Yuriko Koike, the first woman to run for prime minister in Japan.

For background, see article

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• WORLD leaders are queuing up to address the 63rd United Nations General Assembly. George Bush, Nicolas Sarkozy, Wen Jiabao, Hugo Chávez and more are expected to speak. But, as ever, the star turn is sure to be Iran’s president, Mahmoud Ahmadinejad. He is set to speak on Tuesday September 23rd and generally uses his now-traditional annual appearance to take the opportunity to deliver an anti-American tirade in Mr Bush’s backyard. Though Mr Bush should not discount the possibility of a rough ride from Mr Chávez, who once used the event to call him “the devil”.

For background, see article

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• THE battle for America’s presidency is set to become increasingly intense. The two candidates, John McCain and Barack Obama, are running neck-and-neck in the polls and will meet for the first of three face-to-face televised debates on Friday September 26th. The showdown will take place at the University of Mississippi and will cover foreign policy and national security.

For background, see article

To listen to a discussion of the news in the coming week click here