Word: euros
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...Martin? Chances are you've hummed, listened to, danced to or at least disparaged his tunes. "Max is the melody king," says Spears of the man who wrote her biggest hits, including '... Baby, One More Time'. Last year alone, the 30-year-old Swede wrote or co-wrote four Euro No. 1s: Spears' 'Oops! ... I Did It Again' and 'Lucky'; the Backstreet Boys' 'Shape of My Heart' and Bon Jovi's 'It's My Life'. In each of the past two years, according to ASCAP - the American composers' society that keeps track of such things - Martin's songs were performed...
...crisis-the result of the markets' perception that Turkey lacks the political will to reform its economy-undermines the country's credibility at a time when it is trying to join the European Union. And as the euro itself wobbled, the beads of sweat on the faces of bankers in Frankfurt and London as they watched the lira's plunge was proof positive that Turkey, whatever the pace of its integration into E.U. institutions, is already in Europe...
...Then a miracle happened. Italy's efforts to join the euro led to a steep drop in interest rates. By April 1998 the market average for new loans had fallen below 8.3%. Tomaso, a lawyer, noticed that this appeared to render his Banca di Roma loan illegal under a 1996 anti-usury act. The law prohibits creditors from charging more than one-and-a-half times current rates. Tomaso went to the bank and asked to renegotiate; he first was turned down, and then the bank offered a deal with a hefty refinancing fee. But the Longos kept pushing...
...based vice-chairman of Goldman Sachs Asia. And the spigot may still be turned on. "I don't think that all of a sudden the factors that made the U.S. a huge magnet for investment have disappeared," said Courtis, who argued the dollar could prove stronger against the competing euro than most analysts expect. But Hormats was less sanguine about overseas investment, pointing out that "if the foreign capital decides it's not so willing to come in, then we have a currency problem," as investors rush out of the greenback...
...unaccountable corporations and bureaucrats who run it. It's no surprise that the bse crisis has coincided with a crisis of confidence about European integration: a recent poll in Le Monde found that more than half of E.U. residents now oppose relinquishing their national currencies in favor of the euro next year...