Word: dollarized
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Paul Haggis, 53, has had a long run in Hollywood, including an Emmy in 1988 for writing the TV show thirtysomething and an Oscar for Best Adapted Screenplay for Million Dollar Baby. The hits keep on coming: last month he picked up two Oscars--Best Picture and Best Original Screenplay--for his work on Crash, his gritty film exploring racial differences. He wrote the screen-play for Clint Eastwood's film Flags of Our Fathers and also one for the new James Bond adventure, Casino Royale. Now he's working on a TV series. Haggis spoke with TIME's Coeli...
...competitive problems in the past, there used to be an easy fix: currency devaluation, which made Italian exports cheaper relative to those of other countries. But that solution is no longer available, because Italy swapped the lira for the euro, which has risen against most other currencies, including the dollar. "We used to say small is beautiful, but that's no longer true," says Adalberto Valduga, president of the regional chamber of commerce in nearby Udine, the provincial capital. While the strong euro is penalizing firms, he says the real challenge is a more fundamental one: "We need to change...
...Cambridge City Council voted at its meeting last night to appropriate a $1.3 million-dollar gift from Harvard for the Harvard Square Enhancement Project. The city’s project, which faced funding difficulties, aims to make the Square more pedestrian-friendly. Harvard’s gift will help fund the installation of a walk signal by Johnston Gate and sidewalk and street enhancements by the Lampoon castle and on Palmer, Winthrop, and JFK Streets. Councillor Henrietta Davis joked that she was happy to praise Harvard for a change. “This is a really important pedestrian project...
Still waiting for Lawrence H. Summers to sign your dollar bill? A more delectable collectible is up for auction on eBay: a dinner roll, half eaten by the University president...
...Financial markets, at least, have not been rattled despite the worsening political atmospherics. The Dow Jones index, the most-watched barometer of the U.S. stock market, neared a six-year high last week, and the dollar has been firm, despite the massive trade deficit which, in theory at least, is eventually supposed to drive the greenback's value down. Moreover, at a moment when the U.S. needs China's help in the U.N. Security Council to bring Iran's nuclear program to heel, U.S. President George W. Bush is plainly eager to finesse the trade issue as best...