Word: european
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...begun to occur to the financial industry and the central banks of the G7 and a number of smaller Western European countries that if some of the nations in Eastern Europe default on their debt, the world may look as it did three decades ago when several Latin American nations struggled to make payments on their sovereign obligations. (See pictures of printing money in Germany...
...mobilization to bail out Eastern Europe has begun in earnest. According to MarketWatch, "The World Bank, the European Bank for Reconstruction and Development and the European Investment Bank issued a joint pledge Friday to provide up to 24.5 billion euros ($31.2 billion) in aid to support Eastern Europe's bank sector." That is almost certainly only the beginning of the process...
...ratings agencies begin to downgrade the debt of several Eastern European nations, the concern has emerged that Ukraine, Lithuania, and Romania may have trouble with that debt obligations. The IMF says it is not worried about defaults, but it does not hold large amounts of the notes issued by these countries to fund their budgets, which have begun to post substantial deficits...
...present. As proof, there's "Cézanne and Beyond," an ingenious new exhibition at the Philadelphia Museum of Art that combines a choice selection of Cézannes with the work of 18 artists whose practices owe something to his. Organized by Joseph Rishel, the museum's chief curator of European painting before 1900, and adjunct curator Katherine Sachs, the show is dedicated to Rishel's late wife Anne d'Harnoncourt. For years the Philadelphia Museum's smart and spirited director, d'Harnoncourt died, much too soon, last year. Had she lived to see this fascinating mix and match, which runs...
...trend is not an entirely American phenomenon. European nations have posted increases similar to the one in the U.S., and in a study of the relatively confined residents of Britain's Isle of Wight, rates of peanut allergies among toddlers doubled from 1989 to 1994. While prevalence in Asian countries, where peanuts are a popular dietary add-in, remains low, experts warn that could simply be the result of spottier awareness, diagnosis and reporting of allergic reactions in those nations. (Read "Allergies Nothing to Sneeze...