Word: aid
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...Nowhere is the urgency to deal with debt greater than in Europe, where it has become the most serious test of the 11-year-old euro-based monetary system. While euro-zone nations use the same currency, there is no mechanism in place to financially aid wayward members. That's how a crisis in Greece, which represents a mere 2.8% of the zone's GDP, can have such an outsized impact. The ultimate fear is that Greece will default, dragging down the euro with it. "A lot of the euro's problems today are rooted in those members having failed...
...event of its kind. Proceeds from the concert's live triple album went to UNICEF. Paul McCartney followed suit with a 1979 collaboration, cheekily dubbed Rockestra, for the victims of Pol Pot's purges in Cambodia. The first certified charity smash didn't arrive, however, until 1984, when Band Aid--a British and Irish supergroup that included Sting, Bono and George Michael--recorded "Do They Know It's Christmas?" to benefit African famine victims. The effort raised some $18 million and was soon copied across the pond by USA for Africa with "We Are the World," which quickly became...
...doing with bigger, more consequential jobs like getting displaced Haitians decent shelter and sanitation facilities. But its backers say the program bears the seeds not only of a more effective rebuilding effort in Haiti, but of a new development strategy that's less about top-down, welfare-style aid and more about economy-stimulating engagement of the grassroots. "The old, more paternalistic way of doing charity was easier," says Brazilian aid worker Eliana Nicolini, a UNDP cash-for-work coordinator in Haiti who first helped bring the plan to Port-au-Prince a couple years ago. "This is different...
...interview with TIME, Paul Simons, the U.S. ambassador to Chile, said the U.S. stands ready to offer any aid to Chile to help it meet all the needs of its citizens. But, Simons pointed out, Chile is a leader in emergency response and emergency management - the country was one of the first to send help to Haiti. "It may be they don't need our help," he said...
German taxpayers, though, aren't buying that argument. In an open letter published in a Greek newspaper, German journalist Walter Wullenweber of Stern Magazine compared Greece to an ungrateful child and Germany to an aunt who is never thanked for her gifts. He calculated that if all the aid Germans have given Greeks was added up, since 1981, Germans have given each Greek $12,200. In return, Wullenweber complained, Greeks swindle the European Union and retire early. "You are by far our most expensive friend," he wrote...