Word: europeanizer
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...crisis is almost anticlimactic. Prodi took office in 2006 with a razor-thin majority in the Senate, backed by disparate allies who didn't trust each other; most of them possessed enough votes to trigger a collapse. But the fate of the coalition and the career of the former European Commission President is largely beside the point. Fifteen years after the dismantling of a corrupt ruling class was supposed to have paved the way for reform of public life, Italy's entire political system is broken. Rather than sleaze, it is now mired in sludge, unable to break a vicious...
Global warming has no shortage of causes - coal-burning power plants, carbon-spewing automobiles - but many European and Asian environmentalists seem to blame one factor above all others: U.S. President George W. Bush. As the world's top carbon emitter and the only major developed country to refuse to ratify the Kyoto Protocol, America is seen as hastening global warming while foiling attempts to slow it down. At December's U.N. climate-change summit in Bali, the frustration toward American intransigence on global warming was palpable. When U.S. negotiators stood in the way of agreement during the summit's final...
...increasing downside risks to growth," the Board said in a statement. It was the first time since the markets reopened after Sept. 11, 2001, that the Fed had changed the federal funds rate between scheduled meetings. The move buoyed stocks in Europe, and added to speculation that the European Central Bank and the Bank of England would also cut rates in an attempt to stave off a slowdown. In morning trading in Europe, though, stocks fell. Britain's FTSE 100 dropped 1.25%, Germany's DAX index slid 2.16%, and France's CAC-40 fell 2.10%. Markets in Asia rebounded however...
...Committee member Jeremy Rifkin, head of the Foundation on Economic Trends and author of the widely discussed The European Dream, said he believed Zapatero would make "the third industrial revolution" - Rifkin's own proposal to address the world's energy crises by developing renewable energies, storing them with hydrogen, and distributing them via grid technology, as the Internet distributes information - a prominent part of his next government's agenda. "Zapatero gets it," says Rifkin. "He believes in working from the ground up and distributing power equally, and he wants to move away from his country's traditions of top-down...
...majority in the Italian Senate. By virtually any reckoning in Italy's complex political arithmetic, this should spell government crisis - and, it would seem, the final bell for the 68-year-old pol, who was resurrected after his last fall from power in Rome by becoming president of the European Commission in 1999. When asked by reporters "How's it going?" just before his address to the Italian Parliament on Tuesday, Prodi declared his faith in his own survival skills. "Very well," he said. "I think I can make it this time...