Word: countryful
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Hopes that a change of regime in Iran would somehow break the nuclear stalemate have dimmed, with the authorities having successfully contained the challenge of the Green Movement (whose leaders, in any case, publicly backed their country's nuclear program). And despite President Obama keeping the proverbial "all options" on...
Papandreou is certainly raising the stakes. Greece's public finances are in a parlous state, and Papandreou says the government must refinance a large chunk of its fast-growing debt - conservatively estimated at 125% of GDP - or risk defaulting on its loans. He wants E.U. leaders to agree once and...
Merkel has so far been unmoved. She says that Greece, which has enacted stiff austerity measures to slash its budget deficit, does not need an influx of outside money yet. She is backed by the German public, which is reluctant to spend its hard-earned cash bailing out a country...
Like a true card shark, Merkel seems prepared to call Papandreou's bluff. The Greek leader had counted on the E.U. to collectively recoil in horror at the idea of his country's going to the IMF, but Merkel is effectively daring him to do it. Speaking to the German...
Yet for many Germans, Merkel is right not to put their country's money on the table too soon, as it could lift the pressure for reform in Greece. "That would risk setting a precedent of profligate countries taking advantages of the others," says Silvio Peruzzo, a London-based analyst...