Word: baltics
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...former Soviet states: "Significantly, the only area to show outright decline during the Bush years was the non-Baltic former Soviet Union, potent evidence of a steadily growing 'freedom divide' between those former communist countries that have joined, or sought to join, the European Union, and those which have yet to cast off the Soviet Legacy...
...high seas instead. There may be no better measure of the reach, depth and potential duration of the global economic slowdown than the fast-sinking fortunes of the shipping industry. From the historic docks of Rotterdam to China's booming trading hub of Ningbo, troubling symptoms abound. The Baltic Dry Index, which tracks the cost of shipping raw materials, has plummeted from an all-time high of 11,793 last May to below 800, a 22-year low. The daily rental rate for the largest bulk carriers plunged from $234,000 last summer to less than $3,000 in early...
...side of the world - and thinking, "How sad that I'll never go there." But now Europe is free from the Atlantic Ocean to the Black Sea, its peoples mingling happily, trading with each other, watching the same football games, sharing the same Aegean beaches. Hansa towns on the Baltic, once trapped in a frozen Soviet stubble, now bustle with energy; Poles revive Catholic churches in Ireland and Britain; Russians turn ski resorts in the French Alps into little St. Petersburgs...
...intends to be just as aggressive with the new administration as it was with the last. In his state-of-the-nation address last Wednesday, only 12 hours after Obama’s election, Medvedev criticized United States foreign policy and announced Russian plans to place missiles in the Baltic region. We urge Obama to break from the Bush administration’s legacy by withdrawing the proposed American missile shield in Eastern Europe, while maintaining the commitment of the U.S. to defending Eastern Europe in case of conflict with Russia. Russia plans to install Iskander missiles in Kaliningrad, between...
...Eastern Europe these days, too. By one estimate, net banking flows into the region, most of them originating in Western Europe, will fall from $219 billion in 2007 to just $74 billion next year. Sweden's Swedbank, which not long ago earned a fifth of its profits from the Baltic region, has seen its stock price halve in the past year over fears of exposure to bad loans, and on Oct. 27 it announced a $1.5 billion rights issue to bolster its finances. Two days later Austria's Erste Bank turned to the state for $3.5 billion, in part because...