Japan

ATHENS -- Even as the European Union and the International Monetary Fund lay the groundwork for a giant first-round bailout, debate is swirling about whether Greece can avoid sovereign default. Some view Greece as Argentina revisited, noting the stunning parallels with the country that in 2001 set the record for the world's largest default (in dollars). Others, such as Greek Prime Minister George Papandreou, see the country's problems as difficult but manageable, and complain of interference from ill-intentioned foreign speculators.

The Japan Tourism Agency will promote foreign travel to Japan by introducing the country's sightseeing spots to potential foreign tourists on a country-by-country basis, agency officials said Wednesday. The agency will conduct promotional activities targeting 12 nations and areas that have sent a large number of visitors to Japan by choosing priority sightseeing spots for each country and area, the officials said.