Word: euros
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...weeks, European leaders have dismissed talk of a bailout for debt-plagued Greece, saying the country could tackle its enormous budget problems on its own. Now, however, as fears of a default domino effect in Europe have shaken global confidence in the euro, the continent's major powers are changing their tune. Suddenly, the question is not, Will Greece need assistance? but, Who is going to help...
...Europe's less profligate members are realizing, the problem with family is that a good name can be tarnished by a single member's bad behavior. Concern over Greece's public deficit - which now exceeds 12.7% of GDP, well over the E.U. limit of 3% - has sent the euro tumbling and caused stock markets across the continent to fall. And with the finances of eurozone countries now under a market microscope, questions are now being asked about Spain and Portugal, which are also battling high deficits. (See pictures of the global financial crisis...
...eurozone countries held an emergency videoconference to discuss how to deal with the situation Wednesday, and the issue was expected to be at the top of the agenda when European Union leaders meet in Brussels on Thursday. Investors are watching closely for any sign of agreement - the euro rose against the dollar Wednesday as it appeared that a bailout might be imminent, then fell following signs from Germany that a plan may not emerge this week...
...lacks public support," says Pieter Cleppe, head of the Brussels office of Open Europe, a think tank that opposes greater centralization of power in the E.U. Indeed, the IMF has already given millions in bailout money to E.U. countries like Hungary and Latvia, neither of which uses the euro, but eurozone countries fear that such a move would hurt the reputation of their union on the global stage. ( Read: "Taxing Times in Greece...
...become comfortable with the routine and the idiosyncrasies of the office. But more than that, I was spending 40 hours a week seeing the way so many other 40-hour weeks were spent. I got a chance to play at real life between my study abroad Euro-trip and life back on Harvard time, and now I’m seven minutes behind instead of six hours ahead...