Word: europeanizing
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...pleasantly surprised, and didn't expect this before the third quarter," says Gilles Moec, a European economist for Deutsche Bank in London. "But the improvement is rather thinly spread, and not necessarily sustainable. A lot will depend on whether the positive activity in exports and consumer spending continues, which may prove difficult." (See pictures of the global financial crisis...
...Even if the big euro-zone motors of France and Germany manage to continue growing along with smaller economies like Greece and Portugal, Moec warns that broader European recovery will be a sluggish affair. Countries like the U.K., Spain, and Ireland - which each suffer from some combination of excessive household debt and structural over-reliance on real estate and financial industries - risk taking far longer to remedy their economic ailments, which would slow a regional rebound. Ditto Italy, whose consistent under-performance is rooted in competitive weaknesses that couldn't be cured even during good times. (Read: "In Hard Times...
...than they were 20 years ago. But people are still pretty limited. They know Swiss, cheddar, goat cheese, blue cheese, brie - and that's about it. But they keep learning. It's like what happened with wine. Fifty years ago, Americans didn't drink any wine. Then they discovered European wines. Then people started trying to make wine in California. Now people know American wine and European wine and they're starting to learn about grapes, like the difference between Merlot and pinot grigio. I think that will happen with cheese. I also think we'll see a lot more...
...Thursday, Britain's Daily Telegraph newspaper, citing unnamed European Commission maritime officials, reported that following its attack in Swedish waters, the Arctic Sea sent a second set of radio messages saying it had again been hijacked after it passed through the English Channel, off the coast of Portugal. "Radio calls were apparently received from the ship which had supposedly been under attack twice, the first time off the Swedish coast and then off the Portuguese coast," a commission transport official told the Telegraph...
...maritime partner at the U.S. international law firm of Squire, Sanders & Dempsey. It is all the more suspicious given the relatively low value of the listed cargo on board. "The cargo on the ship is timber," he says. "No one would steal a ship for timber, especially in European waters. So perhaps the lumber could be a cargo cover. Was it drugs? Was it nuclear weapons? Who knows what could be on that ship?" (See pictures of Somali pirates...