The talks have entered a slow phase, in part because policy makers don't face an immediate deadline.

WSJ: Obama Reaches for Middle Ground With New Budget Plan

And this was a slow phase-out that was supposed to take place over two years and not concern consumers in emerging markets all that much.

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Mr. McFARLAND: The first phase of the debris removal is slow.

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After a slow start, Boeing is moving on to a new phase of using the pooled technical and business talents now at its command to develop completely new activities.

ECONOMIST: Building a new Boeing | The