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Greek Prime Minister George Papandreou has put tax reform at the heart of his austerity plan, and says his government is serious about fixing the roots of his country's current economic predicament. He says Greece will tackle its deficit without the deep government-wage or job cuts that other heavily indebted European countries, like Ireland, Spain and Portugal, have recently announced. Instead, Athens will pursue tax evaders. "Greece's problems," Papandreou told journalists at a press conference marking his first 100 days in office, "are due to waste, corruption and lack of respect towards...

Author: /time Magazine | Title: Taxing Times in Greece | 2/15/2010 | See Source »

...weeping pretty boy who is still the industry's most bankable star, or Aamir Khan, the slick lead of the recent megahit 3 Idiots. Instead, Irrfan Khan has become the inspiration for all those talented actors who don't dance and aren't leading-man handsome. "It's very deep," Nair says of his impact. After watching Khan's performance in Maqbool, Sharma moved back to Mumbai and restarted his career as an actor. He recalls thinking, "This was something different in Indian cinema...

Author: /time Magazine | Title: Keeping It Real | 2/15/2010 | See Source »

President Obama's $3.8 trillion budget for 2011 drew fire from lawmakers who say the plan does not seek to make a deep-enough dent in the soaring U.S. deficit, expected to hit a record $1.56 trillion this year. Obama blamed the shortfall in part on the "decade of profligacy" under his predecessor, including two wars and tax cuts for the wealthy. Propping up the fragile economy, he added, remains a top White House priority--and it's not cheap. While the proposed budget includes a three-year freeze on discretionary spending and other deficit-reduction measures, it also calls...

Author: /time Magazine | Title: The World | 2/15/2010 | See Source »

...while 658 sounds like a lot of sales for an album by someone who can't sing, it is nevertheless a dangerous sign for our economy. You can chart GDP or housing starts, but I can't, so the way I know we are in deep trouble is when celebrities can't persuade us to buy their crap. In the America I grew up in, we order perfume by the quart just because it's made by Ernest Borgnine's fifth wife. We are almost as eager to buy stuff from celebrities as Borgnine is to get married...

Author: /time Magazine | Title: Heidi Montag, Spencer Pratt and the Limits of Celebrity | 2/15/2010 | See Source »

...filled with fretting by conservatives about the right's chances in the March elections, politicians on the left aren't tempting fate by predicting victory. The left is, however, using the opportunity to bash Sarkozy's government. "What a fiasco: Operation National Identity, which was supposed to raise deep questions ends up in a retreat with its tail hanging to the tune of a cracked trumpet," Laurent Joffrin, editor of the leftist Libération newspaper, mused in his Tuesday editorial. "[Public opinion] immediately realized this was not a questioning of the nation that could have been pertinent...

Author: /time Magazine | Title: Why France's National Identity Debate Backfired | 2/12/2010 | See Source »

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