The world's political and business elite will shelter from the chilly winds buffeting the global economy and plot a new path for capitalism at the annual World Economic Forum in Davos which begins today.
Euro zone finance officials voiced optimism today that a deal to avert a disorderly Greek defaut was imminent and that key building blocks to resolve Europe's sovereign debt crisis are gradually fitting into place.
The European Central Bank's loans to banks have averted a major credit crunch but credit remains seriously impaired in parts of the euro area, ECB President Mario Draghi said at the World Economic Forum in Davos.