Word: euros
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...pull a Michael Jordan and lay tracks once or twice more, "the Roc" could lose some cachet. "Damon's done a great job, but he's clearly been in the right place at the right time in his partnership with Jay-Z," says Ryan Berger of advertising agency Euro RSCG Worldwide. "I'm not sure he can reach that next level without...
...temptation for all nations, not just the U.S. What the Kyoto Protocol on Climate Change and the International Criminal Court are to America (the U.S. says no to both), the E.U. Stability and Growth Pact is to France and Germany. The pact enjoins all 12 members of the euro bloc to maintain strict fiscal discipline. Above all, they were to keep their deficit spending below 3% of GDP in order to stave off inflation. But what's a sacrosanct international agreement when the national interest comes calling? France and Germany suffer from close-to-zero growth and close-to-double...
...with 138 false E.U. passports) allegedly printed at the same shop and destined, they say, for the E.U. Bulgarian forgers are among the most active in Europe, but they are not alone. Across Eastern Europe - and recently in the West as well - skilled forgers have been churning out fake euros at an alarming rate. Fraud police in the 12 countries of the euro zone report a sharp increase in both the quantity and quality of counterfeit notes entering circulation this year. One of the culprits: weak or nonexistent anticounterfeiting legislation in some East European countries, which makes it nearly impossible...
...hurting the economy. But there is a problem of trust." Mindful of that threat, police in Eastern Europe - with the assistance of the European Union's law-enforcement branch, Europol - have been trying to crack down. Bulgaria, one of the world's biggest counterfeit havens, has broken up 13 euro print shops in the past 12 months. Serbian police closed down three rings over about the same period - "mostly medium-quality forgery" shops, according to Zoran Stajic, the lead investigator. And Polish police, relying on tips from their German counterparts, shut down a major operation in February in central Poland...
...fact, police throughout the euro zone are reporting a sharp rise in cases of people caught trying to pass counterfeit bills. Austrian antifraud investigators who rarely laid eyes on a fake schilling before the changeover reported 3,000 cases of counterfeit euros last year. This year, they've seen 15,000, mostly originating in Bulgaria, says Erich Zwettler, an anticounterfeiting investigator in Vienna. Next door in the German state of Bavaria, police also report an increase in forgeries from Lithuania, Italy and Turkey (mainly coins). Some 7,500 cases are awaiting trial in Bavaria alone. Police say that the most...