Word: europeanate
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...change the world's political and economic geography" before he leaves office in December 2010. It may be futile to stump for a permanent Brazilian seat on the United Nations Security Council, but the developed world's financial shambles has made Lula's campaign to challenge U.S. and European hegemony in global trade talks less quixotic - and enhanced Brazil's leadership role among developing nations. "Capitalism will be a different animal once the turbulence is over," Lula told TIME. "Developing countries will be responsible for a major percentage of world economic growth...
...diversified so as to reduce reliance on commodities, and before the downturn the nation socked away a record $208 billion in foreign reserves. The banking system has remained well regulated, and so far seems to have been less exposed to the toxic assets that have wrecked many U.S. and European banks. All this has "buffered Brazil quite a bit against the global downturn," says Paulo Leme, emerging-markets director at Goldman Sachs...
...Brussels Bailout Denied The European Union dismissed a Hungarian-led request from nine hard-hit East European countries for a $240 billion economic bailout, saying that blanket spending would be ill-advised owing to each nation's unique financial outlook. Hungarian Prime Minister Ferenc Gyurcsany insisted that without funds, a 'new Iron Curtain' would divide Europe...
...about finding ways of raising discretionary revenue.' MICHAEL O'LEARY, chief executive of the European budget airline Ryanair, on toying with the idea of charging passengers to use airplane restrooms...
...With local and European elections in June looming, Cowen has the dual task of saving his party at the polls and repairing the damage to Ireland's international reputation. Once the shining economic success story of Europe, the country has been routinely described in recent months as the weak link in the euro zone and even suffered the ignominy of being cited as a potential recipient of aid from Germany last week, alongside other struggling E.U. states like Hungary...