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...major cause of concern for fiscal purists who fear that some governments may end up drowning in red ink. Twenty of the European Union's 27 members are running deficits to ease their way through the global recession, with the average pegged at 7.5% this year. Three years ago, the E.U.'s deficit average was just 0.8% of the bloc's total GDP. That figure increased to 2.3% in 2008 and then spiked to 6.9% last year. (See 25 people to blame for the financial crisis...
...little more than a month ago, some critics thought “Avatar” was going to bomb—quite a lot of them, in fact. I even felt a little sorry for James Cameron, despite his tens of millions of dollars in personal wealth, and despite the fact that his previous films have become cultural icons, if not cinematic ones. Now that the industry’s pessimism has been mostly forgotten, I’d like to take a moment to imagine a different cultural landscape—one in which “Avatar?...
Some of the cost-saving measures are ongoing. In November, Smith said that he was seeking to reduce the size of the faculty through attrition, and two months ago FAS offered the first retirement program in the school’s history, enabling more hiring flexibility...
...Canadian aggression? In part, you can thank the Yanks. After seeing how the U.S. medal count jumped from 13 in Nagano, Japan, in 1998 to 34 in Salt Lake City four years later, Canada realized it could also capitalize on its status as host. In Turin, Italy, four years ago, Canada finished with 24 medals (one behind the U.S. and five behind leader Germany); Jackson figures around 30 medals should give Canada the top spot in 2010. (See TIME's video series about how Olympic athletes train...
...landing at Charles de Gaulle Airport would feel unsettled seeing a supersonic Concorde jet mounted on a steel frame alongside the runway, with its needle-like beak pointed upward in take-off position. After all, just such a Concorde plane crashed in a ball of fire nearly 10 years ago, less than two miles (3 km) from where the mounted jet now stands. It was an event that doomed the world's fastest-ever passenger jet - an aircraft designed by French and British engineers - to a future as a museum relic...