Word: defaultations
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...federal energy funds toward a technology that still has unresolved environmental risks and that has struggled for years to attract private capital. "The Department of Energy is putting taxpayers on the hook for bailing out costly and dangerous nuclear-reactor projects when the loans used to finance those projects default," said Ben Schreiber, the climate- and energy-tax analyst for the Friends of the Earth, in a statement. "This is great news for Wall Street but a bad deal for Main Street...
...funds would be reimbursed to taxpayers. But some environmentalists point out that there's a reason no American nuclear plants have been built in more than three decades: the projects tend to be hit with construction delays, and the Congressional Budget Office (CBO) estimates that the risk of default on a new nuclear plant is higher than 50%. In a conference call with reporters, Energy Secretary Steven Chu seemed unaware of the CBO report, although he downplayed the fiscal risk. "Even Wall Street traders say these reactors are too risky to invest in," said Schreiber...
Problem is, though, the markets are finding it tough to trust Athens. At the World Economic Forum in Davos rumors swirled - despite assurances to the contrary by Greek and E.U. officials - that Greece was on the brink of a default and would need a bailout from Brussels or the International Monetary Fund (IMF) - or even get booted out of the E.U. altogether. "If any other country was making the kinds of adjustments that we are, it would be applauded," says Papaconstantinou. "In our case, they are not sure we are actually doing it." (Read: "Why Greece Could Be the Next...
...probably shouldn't have: current events is American for "policy." It is the high school term of art for the hour each week when students are forced to study the state of the world. Palin's great strength is that the vernacular, rather than focus-group language, is her default position. At the end of the interview, Wallace asked what role she wanted to play in the country's future. "Well, first and foremost, I want to be a good mom," she replied. And then, in closing, Wallace asked, "Can I get a 'You betcha...
Nonetheless, it was unthinkable that the E.U. would sit idly by and watch Greek finances crumble a mere 11 years after the euro's birth. European leaders are keenly aware that the crisis is not restricted to Greece. If the nation were allowed to default on its debts, the bug could spread to other highly indebted euro-zone economies, like those of Spain and Portugal. At that point, economists have said, the euro itself could be endangered. But the E.U. sent a message on Thursday that it was not about to let that happen. Now it's banking...