Word: europeanate
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...Asian financial institutions have generally avoided the kind of risky, subprime mortgage-related investments that have crippled financial firms in the U.S. and Europe. Fitch Ratings figures that at mid-year Asian banks accounted for only 6% of the total losses on subprime investments at the world's banks. (European banks, on the other hand, were responsible for 47%.) Even those financial institutions that carried some exposure - like Japan's Mizuho Financial Group, which has reported subprime-linked losses of more than $6 billion through June - are considered strong enough to ride out the storm. Jesper Koll, Japan director...
...years ago, Asian bankers got a good finger-wagging from their American and European counterparts as the region's financial sectors melted down in a major crisis. Today, Asia has the right to do some finger-wagging...
...Alitalia has been in need of a shakeup for years. The company hasn't turned a profit since 1999, forcing the Italian government to set up a series of bailouts that have drawn the ire of European Union competition regulators. In December 2006, then Prime Minister Romano Prodi put the government's 49.9% share of Alitalia on the selling block. Several potential buyers pulled out, and a takeover bid by Air France-KLM was blocked by the unions and the open disdain of then opposition leader Silvio Berlusconi...
...Economist Andrea Goldstein notes that Alitalia in the 1970s was considered an avatar of the efficient European public company. There is a certain irony, Goldstein says, that it faces its death as the free-market oriented U.S. government steps in to bail out much of America's financial-services industry and China revs its own state-run economy. "There is a paradox that as the state elsewhere returns to play a prominent role in managing national economies, in Italy the state is too weak to handle this situation," says Goldstein. The Italian economy seems to suffer from the worst...
...which is great news for leaders like Strache. The far right, says Hofer, "has been surprisingly good at connecting globalization, inflation and European issues to migration. It's not logical or fact-based, but they are talented politicians who are serving their target groups. These are well-crafted messages." In terms of actual policy, Strache has promised little except some programs to monitor immigrants who have been convicted of a crime with implanted chips and a call to deport "immigrant criminals." Crime levels in Austria, though rising, are still among the lowest in Europe...