Word: deeper
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...believe you. Greece has lost its credibility. What I was saying all along is we have to bring back our credibility. That did in fact work. Credibility for Greece has come back. Of course, those are short-term changes. We have to get down to the deeper changes, which we're already doing. So that's this phase. Now getting beyond this immediate crisis - getting a breathing space to actually get down to the deeper - and I would say even more creative changes, in our society. (See TIME's Greece covers...
...Joanna Kontiza, a 33-year-old pharmacist, says she is happy Europe is coming to Greece's rescue but is losing faith that the current government could address any of the country's deeper problems. "We are angry, but we're not angry with the [European] Union. We are angry with our own people, our leaders," she says. "They see that we have problems, but I see now they are just making changes in the easy way. They don't do the things that will make a difference for the future...
...even if the agreement gives the government some breathing room, Greece faces a tough road ahead. The markets - and Europe - will be watching closely to see if the country's socialist government can follow through on the deeper structural reforms Greece needs to implement to rein in its staggering debt and jump-start its moribund economy. As part of its pledges to its European partners, Greece has already cut civil servants' pay and raised taxes. But those are merely short-term measures. The bigger challenge is to reform the country's tax and pension systems, liberalize controlled areas...
...Israel's main television channels. Whatever the outcome of his legal problems, Olmert has already come to symbolize a generation of politicians who eschewed the abstemious ways of Israel's founding leaders and enriched themselves at a time of unprecedented security and prosperity, failing to address the deeper problems facing the country...
...control economy touches the free-market world. Just as tensions with the Soviet Union sharpened at places where systems collided, the same will be true of China: the renminbi is the new Berlin. It needs to be handled with appropriate sophistication by both sides, especially since it reveals a deeper tension. Chinese find it inconceivable that the dollar will be the only global reserve currency in 10 years; Americans find it inconceivable that it will...