Word: ceilinged
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Her break in life - the twist that put her on the path to a snug house in the suburbs with a vaulted living-room ceiling - was the product of these two qualities, the work ethic and the gift of gab. As a free-spirited young woman, Stevens liked working in...
British designer Frank Andrew and his Swiss-born wife Ariane bought the farm and hamlet as a ruin in 2003. It lies in the verdant depths of Le Marche, a mostly rural region along the Adriatic that, with its mix of Renaissance treasures, rolling hills and architectural rusticity, is a...
To be fair, the Stability and Growth Pact's credibility was straining long before the downturn. Most E.U. member states have run budget deficits beyond the 3% ceiling from time to time, while many have breached the pact's other main criterion: that national debt stay below 60% of GDP...
The commission predicts the E.U. economy will shrink 1.8% in 2009. That's going to make borrowing crucial. Ireland's budget deficit is projected to rise to 13% of GDP by 2010; Britain's could hit 9.6%. France and Germany are both expected to blast through the 3% ceiling. The...
Yet all but one (Luxembourg) of the E.U.'s 27 members expect to break the deficit ceiling in the coming year. In such circumstances, the E.U. should suspend the pact immediately, says Daniel Gros, director of the Brussels-based Centre for European Policy Studies. "It means it doesn't break...