Word: euros
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...Hermes boutique in Sloane Street, close to Abramovich's home and the top London football club, Chelsea, he owns. Berezovsky seized the opportunity, serving a writ on Abramovich that he had carried around with him for six months in the hopes of just such an encounter. (See pictures of Euro 2008 soccer...
...Ukraine, the Vice President spoke a little more freely, perhaps safe in the knowledge that President Viktor Yushchenko is increasingly embattled and that those who will likely eclipse him are less inclined to push ahead on the NATO front. "If you choose to be part of Euro-Atlantic integration - which I believe you have - then we strongly support that," Biden said in a speech after talks with Yushchenko. Biden also explicitly rejected Russia's "19th century" talk of spheres of influence. "We don't recognize, and I want to reiterate this, any spheres of influence. We do not recognize anyone...
...Iceland sees the E.U. as a safe haven from the world's harsh economic winds. In particular, euro membership would allow it to ditch the crippled krona. The E.U. would gain a new member with similar values to its own, which would help strengthen its reach as a global power. In return, Iceland can expect accession talks to move at a double-quick pace. As a member of the European Economic Area (EEA), Iceland already has access to the E.U.'s single market. It is also part of Europe's border-free Schengen zone, and virtually all the other...
...Even the touchy subject of fishing rights could be overcome. Iceland has long jealously guarded the sovereignty of the lucrative, 200-mile (320-km) fishing zone around the island. Fish and seafood account for 37% of Iceland's exports, and employ 8% of the work force; even ardent Euro-enthusiasts are loath to see their prime natural resource fall under the sway of the E.U.'s controversial Common Fisheries Policy (CFP). But while Reykjavik cannot expect an exemption, it could negotiate special protocols to take account of the importance of the fishing sector to the nation...
...Joining the euro could happen soon after that. Reykjavik officials have backed down from their earlier talk about "unilateral euroization" - using the single currency without going through the rigorous euro accession process - but once the economy settles, joining could be relatively straight-forward. Iceland's debt, deficit and inflation rates currently too high to fulfill the euro criteria - are expected to fall fast over the next few years to meet the entry demands. (See pictures of the Top 10 scared traders...