Word: euros
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...European Capital of Culture for 2004, the Italian government poured in $40 million for more than 100 special events from jazz concerts to history classes. And Via Garibaldi, which housed the noble families of what was once one of Europe's richest cities, has undergone a multimillion-euro face-lift that would make Prime Minister Silvio Berlusconi proud. Fa?ades have been scrubbed and frescoes restored to their original splendor, quaint courtyards and sweeping staircases now shine anew, streetlights have been added to enhance the architectural features, and busts and statues have been tucked into the palaces' endless niches. Get lost...
...Jeffrey Katzenberg, the man behind The Lion King, who co-founded DreamWorks. Comcast's No. 2 executive, Burke, is a fast-track escapee. He spent 12 years at Disney and proved himself a skilled executive by recharging Disney's consumer-products division (it faltered after he left) and reviving Euro Disney (another recent relapse), then working in Disney's TV-networks business. Katzenberg is effusive: "When we started DreamWorks, I tried desperately to get him to come on board. That's how much I admire him. He's an amazing talent...
...FIRM DOLLAR Many believe the buck, which slumped 17% against the euro last year, will continue to weaken as the U.S. government keeps spending money it doesn't have. Yet rising interest rates attract foreign investment and often buoy the dollar, which firmed noticeably after Greenspan's rate signal in late January. The buck may hold firm if, as seems logical, Europe cuts interest rates to combat slow growth. A steady dollar would remove the currency edge of foreign securities, which in dollar terms rose nearly twice as much as they did in local currencies last year. You should favor...
...European Capital of Culture for 2004, the Italian government poured in $40 million for more than 100 special events from jazz concerts to history classes. And Via Garibaldi, which housed the noble families of what was once one of Europe's richest cities, has undergone a multi-million-euro face-lift that would make Prime Minister Silvio Berlusconi proud. Façades have been scrubbed and frescoes restored to their original splendor, quaint courtyards and sweeping staircases now shine anew and streetlights have been added to enhance the architectural features, busts and statues tucked into the palaces' endless niches...
...good for anything more than p.r.? "On economic reform, France and Germany are laggards, not the avant garde," says Grant. Their state sectors are bloated and labor markets rigid; France protects its energy sector from foreign competition; Germany subsidizes coal production. On many crucial economic questions, like the strong euro, the leaders are irrelevant. Blair, whose economy is healthiest, is convinced international endorsement will help his colleagues sell reform at home - but that sounds a bit unrealistic since Chirac and Schröder are hardly in a position to deliver more tough changes. Two powerful forces could keep the Gang...