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...potential loss of these credits has already impacted development. Acciona, a large Spanish renewable company that launched a major concentrated solar power plant outside Vegas this year, says similar projects will be impossible in the future without an extension of the tax credit. Abengoa, another Spanish company (European companies have dominated this space, largely because their governments provide significantly more generous subsidies to renewables), is planning to build the world's largest solar plant in Arizona, but the CEO of its solar arm told me recently that the project could fall apart if the credit doesn't come through...

Author: /time Magazine | Title: The Global Credit Crisis | 7/20/2008 | See Source »

...Earlier this year, Austria released a stamp that shrank a football to, well, postage-stamp size, to mark the country's role as co-host of this year's European soccer championships. The self-adhesive stamps were not only circular, but made of the same polyurethane mix as the balls that players used in the June tournament. The Austrian post office printed some 500,000 and they sold for just under $6 each...

Author: /time Magazine | Title: Post Modern | 7/17/2008 | See Source »

...Patriot Gains Many Europeans envy Americans' strong sense of patriotism [July 7]. This is most evident in the widespread display of the U.S. flag outside homes, businesses, factories and public institutions. Another difference is that in the U.S., immigrants assimilate patriotism very quickly. A French-born immigrant, for instance, soon identifies as American first and French second. By contrast, European Union attempts to impose a European identity have largely failed. Most citizens of the E.U.'s 27 member states jealously retain their national identity because they have never connected with the Brussels-based superstructure. The U.S. national motto...

Author: /time Magazine | Title: Inbox | 7/17/2008 | See Source »

Barclay is not convinced that climate change is responsible for Britain's new inhabitants. European integration may be the cause. "It's very difficult to judge," Barclay says, "because the period of time we have seen global warming potentially influencing the insect fauna is almost exactly the same period of time since the [European Union] opened up its trade barriers between member states. So in the past decade and a half, we've been importing a lot more from Italy and Spain and Southern France, and we've had this climatic change--so we have two potential causes." Whatever...

Author: /time Magazine | Title: Postcard: London | 7/17/2008 | See Source »

...cannabis, cocaine, ecstasy - "to attain an immediate state of intoxication." Apaire says a rising number of young people begin abusing booze immediately and never learn how to drink responsibly. "It's part of the globalization of behavior that, as far as drug and alcohol abuse is concerned, at the European Union level is evidenced in all 27 states," he says. In other words, if France hopes to maintain its cultural exception as a country that consumes alcohol responsibly, it will need to work alongside the rest of Europe to find a solution to youth binge-drinking...

Author: /time Magazine | Title: French Combat Youth Binge-Drinking | 7/17/2008 | See Source »

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