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...problem is that monetary union was never followed up by political union to coordinate budget and taxation practices and create euro-zone institutions and capacities to help member economies adapt to changes and turmoil. The result is member governments are left very few ways to deal with the current attack on Greek debt and the severe pressure that it's putting on the euro...

Author: /time Magazine | Title: Could the Euro's Days Be Numbered? | 2/19/2010 | See Source »

...which liberals and conservatives interrogate one another's views - programs like the early (and more substantive) incarnation of CNN's Crossfire or William F. Buckley's Firing Line. There's no guarantee that the conversation would be edifying, of course. But it would be a useful antidote to the current cable and blog ghettos, where you can go years without hearing the other side make its case. The recent televised meeting between Obama and the House Republican leadership was a reminder that honest but civil debate can show people that their side isn't infallible and that not everyone...

Author: /time Magazine | Title: Why Washington Is Tied Up in Knots | 2/18/2010 | See Source »

...this increasingly antidebt and anti-Big Government environment, the American people are turning against a Big Government health solution. A Rasmussen survey showed that 61% of Americans prefer scrapping the current, 4,500-page bill and starting over. (See a video interview with Newt Gingrich...

Author: /time Magazine | Title: Newt Gingrich: It's Time to Team Up | 2/18/2010 | See Source »

...Party is not a political party, not yet, and maybe never will be. Rejecting the idea - widely held by Democrats - that a government of brainy people can solve thorny problems through complex legislation, the Tea Party finds its strongest spirit among conservative Republicans. Yet a powerful current of "blame both sides" also pulses through the movement. "We're equally disgusted with Republican and Democrat Congressmen," says Lynne Roberts, a volunteer organizer of a Tea Party gathering in Albany, N.Y. Her group is one of hundreds, maybe thousands, animated by Tea Party energy - millions, perhaps, if you count the groups...

Author: /time Magazine | Title: Why the Tea Party Movement Matters | 2/18/2010 | See Source »

Still, it's true that the Anthem Blue Cross rate hike is a perfect example of why the current individual insurance market is unsustainable. After all, the justifications the company provides for why its rates have to increase do make sense. In a bad economy, the people most likely to cancel their health insurance are healthy people; this leaves the remaining so-called risk pool less healthy, and therefore more expensive to insure. (Waxman, in a follow-up letter to WellPoint, asked the company to explain why data show that it had more individually insured customers in California...

Author: /time Magazine | Title: A Big Insurance-Rate Jump in California: Will It Stick? | 2/18/2010 | See Source »

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