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...euro zone, such as Portugal, Ireland, Italy and Spain - a collection of countries traders have nicknamed the PIIGS. Government leaders nowhere near Europe are concerned as well. "Such events far away can hurt Singapore," warned Lee Hsien Loong, the city-state's Prime Minister, in his Chinese New Year address. "Singaporeans should be psychologically prepared ... and not let down our guard too soon." (See pictures of the global economic crisis...
...leaders to prove they're serious about getting their countries' finances in order. In late January, S&P warned that it could downgrade Japan's sovereign rating if the new administration of Prime Minister Yukio Hatoyama doesn't rein in the deficit. In his January State of the Union address, President Barack Obama pledged to freeze discretionary fiscal spending for three years starting in 2011. "Like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don't," Obama said. (See pictures of retailers which have gone out of business...
Less than two hours earlier, U.S. Secretary of Education Arne S. Duncan ’86 had finished speaking about his Race to the Top initiative, which seeks to address disparities in access to quality education across the nation...
Fire fighters, police and ocean safety officials were going from hotel to hotel to brief tourists of what to do. Keep away from the shore. And evacuate vertically - that is, to higher floors - if the word is given to do so. Public address systems repeated this information constantly on the streets of Waikiki as well as in all hotels in the area. (See the recovery from the great Indian Ocean tsunami...
...return a civilian to power after a little over one year of rule, but they still wield considerable power. Although Thaksin has been banned from politics for five years for violating election laws, he remains popular with the rural poor, who feel he was the first Thai leader to address their needs by implementing social welfare programs, such as universal health care. His supporters believe he is being selectively targeted by his political enemies, while his opponents feel he is paying the price for blatant conflicts of interest and abuse of power...