Word: centralizes
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Immediate financial fixes. Central banks and financial technocrats are moving to end some of the more flagrant abuses and rethink the financial system's rules - but, inevitably, that is a slow and painstaking task. London needs to serve up some quicker fixes. One suggestion: an immediate ban on opaque off-balance-sheet "special purpose vehicles," which played such a big role in the meltdown (and in the Enron scandal). Another: the establishment of a G20 College of Supervisors, the beginning of a world regulatory body to oversee financial markets, coordinate national responses and troubleshoot crises at cross-border financial institutions...
...Berlin and Sofia. So the old lady, now celebrating her 60th birthday in fine health, should have died a long time ago. When exactly? A fitting year could have been 1991, when the Soviet Union committed suicide. Or three years later, when the last Russian troops pulled out of Central Europe. No more threat, no more alliance...
...Text-Messaging The Koran The soft revolution is made concrete in hundreds of new schools from Turkey to Pakistan. Its themes echo in Palestinian hip-hop, Egyptian Facebook pages and the flurry of Koranic verses text-messaged between students. It is reflected in Bosnian streets honoring Muslim heroes and central Asian girls named after the holy city of Medina. Its role models are portrayed by action figures, each with one of the 99 attributes of God, in Kuwaiti comic books. It has even changed slang. Young Egyptians often now answer the telephone by saying "Salaam alaikum"--"Peace be upon...
...news is that volunteers are stepping forward as never before. For instance, applications through the AmeriCorps online system for volunteer service in February were up 208% compared with the same month last year. Multiple trends help explain the rush to volunteer. President Barack Obama has made community service a central issue. Baby boomers are hitting retirement age in record numbers, with many looking to make good on the idealism of their youth. Yet it's folks who have always given money but no longer feel financially secure enough to do so who may offer the clearest explanation. Some 4.4 million...
Prime Minister Nouri al-Maliki's repeated calls to amend the constitution to strengthen the powers of the central government in Baghdad at the expense of Iraq's 18 provinces - including the semiautonomous three-province Kurdish region in the north - have faced fierce pushback from his Kurdish allies, some of whom have called him "the new Saddam." That schism is bound to widen in the coming months, when the U.N. issues its findings over the disputed oil-rich northern city of Kirkuk, which Kurds claim as their "Jerusalem" but which Arabs are loath to let go of. (See a TIME...