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...their ability to borrow just like any spendthrift with too many credit cards, and often pile up more bills than they can handle. Argentina, Russia, Mexico and others have stiffed their bankers over the past 30 years. In fact, the sovereign-debt crisis goes back as far as the concept of the sovereign state. The first recorded government default took place in the 4th century B.C., when Greek municipalities failed to pay back loans granted by a temple. (Read "The Party's Over for Spendthrift Greeks...

Author: /time Magazine | Title: Weighed Down | 3/1/2010 | See Source »

...novel The Body Snatchers, the source for the 1956 Invasion of... movie version and its three remakes. Alex Garland's script for 28 Days Later..., in 2002, blamed the plague on a virus injected into monkeys. In The Happening, two summers ago, M. Night Shyamalan reprised Romero's Crazies concept, except that the toxin is transmitted through the air, not the water, and turns its victims suicidal, not homicidal...

Author: /time Magazine | Title: The Crazies Review: Don't Drink the Water | 2/26/2010 | See Source »

...believed to be the first to launch such a program. However, given the proclivity of Americans for divorce - recent statistics put the U.S. divorce rate at about 3.5 per 1,000 people, or roughly half the marriage rate - it may only be a matter of time before the concept makes the jump across the pond. Indeed, divorce has become a big industry around the world, thanks in part to such high-profile celebrity splits like Brad Pitt and Jennifer Anniston and Heather Mills and Paul McCartney. "Celebrate-don't-commiserate" products like greeting cards, sponge cakes and divorce-themed books...

Author: /time Magazine | Title: In Britain, a Gift Registry for Divorces | 2/26/2010 | See Source »

Begg sees a deeper purpose behind the blame game, as politicians try to mitigate the public criticism that will accompany the inevitable austerity measures needed to fix the Greek and Spanish economies. "There is an Italian concept of vincolo esterno, or external constraint," he says. "It is a device a canny politician can use to say, 'We must do this or we will be eaten alive.' Although the conspiracy theories are preposterous, they help prepare for the reforms which are needed...

Author: /time Magazine | Title: What Caused the Euro Crisis? | 2/26/2010 | See Source »

...looks as though your favorite granny took a design degree, but the end result is stimulating and surprisingly warm. With tiny Jack Russell terrier Spud at his heels, manager Leo Rabelo explains that this is very much a hotel-as-home concept. Children are welcome, guests are encouraged to interact around the breakfast table (salvaged wood, naturally) and the perfectly preserved 1960s kitchen is available to all. "Of course, it saves guests money," Leo says, reflecting the make-do-and-mend zeitgeist of the economic downturn. "London can be expensive...

Author: /time Magazine | Title: The Luxury of Roughing It | 2/25/2010 | See Source »

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