Copenhagen Is Fast-Approaching

The European Union is gearing up for next month's conference on climate change in Copenhagen,at which a successor to the Kyoto Accords is to be agreed.In a summit last week,the EU found that by 2020,developing nations will need 128 billion dollars a year to fight climate change.The EU pledged to contribute 74 billion to a fund to assist these emerging market states.The amount each EU member gives will be determined by the abilities of the donors.
Norway was the first EU member to raise interest rates since the financial crisis began-a sign of economic strength.The U.K is holding its rates steady.Many,if not all,EU members are keen to keep stimulus measures in place.Substantial promises of aid to other countries may thus be viewed with some degree of scepticism at this time.