China Rejects Obama’s Compromise

President Obama faced a setback at the Group of 20 summit in Seoul on Thursday, as Chinese President Hu Jintao rejected a deal on currency policy, leaving the future uncertain. The summit is expected to conclude without a final deal on fiscal and monetary policy—one of the U.S.’s goals. Obama said he remained confident, however, of a final agreement with a "broad-based consensus" within a few weeks. Meanwhile, Ireland's government tried to persuade investors that the country will not follow in Greece's footsteps and need a bailout from the European Union, and students in Britain rioted over rising tuition costs as part of the government's cost-cutting measures put forth at the G-20.