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...rather than brand-name drugs (per capita, the French are the world's most heavily medicated population), and cracking down on liberal sick leave. On top of that, the government wants to haul in another €5 billion in contributions. Beginning next month, patients will pay a single nonrefundable euro for every consultation with a doctor. Doubts have been voiced - even within the government - over whether these measures will be enough to put France's health-care accounts back in order. If the surgeons get their higher fees, the equation looks even more questionable. But veteran physicians such as Jean...

Author: /time Magazine | Title: Doctor's Orders | 8/15/2004 | See Source »

...hostility toward the banks is a cynical tactic." Deutsche Bank says Bondi's suit is unfounded and that it "fully intends to defend" its position. Already, some U.S. bondholders are crying foul: while the restructuring plan gives them and other Parmalat creditors just a few cents on every euro that they put into the company, the holders of bonds of two subsidiaries are being offered the chance to convert 100% of their debt into equity in the new firm. They happen to be largely Italian bank and retail investors. That may end up playing well to a home audience. Bondi...

Author: /time Magazine | Title: First, Blame the Banks | 8/15/2004 | See Source »

Ever since the euro was introduced in 1999, financial experts have predicted that it would lead to the sweeping, Continent-wide consolidation of many European industries, particularly the crowded banking sector. The dream was that a single European currency would leap over national priorities and prompt banks to reach across borders for merger partners, the better to compete with America's megabanks. But a funny thing happened on the way to banking consolidation: nothing. Except for a few small deals, such as the 2000 takeovers of Bank Austria by Munich-based HVB, and Unidanmark by Swedish-Finnish lender MeritaNordbanken, banks...

Author: /time Magazine | Title: Banks Without Borders | 8/1/2004 | See Source »

This is not the beginning of cross-border banking mergers in the euro zone...

Author: /time Magazine | Title: Banks Without Borders | 8/1/2004 | See Source »

...twisting, the Fleury-Merogis prison outside Paris last month let her stage the first Father's Day party for kids and their jailed dads. Blanco still has to struggle to raise money. She recently wrote to all 63 companies in her local chamber of commerce. Not one gave a euro...

Author: /time Magazine | Title: Philanthropy: Opening Up to Charity | 7/26/2004 | See Source »

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