Word: euros
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...other side of the Atlantic, European Union governments have spurned entreaties to let funds flow into their staggering economies. "Europe has done what it needed to do," says Luxembourg Prime Minister Jean-Claude Juncker, who is also chairman of the 16-member euro zone, adding that the U.S.'s appeals "were not to our liking...
...Kosovo also aims to join the EU, and it already uses the euro as its currency. It is, however, far from ready to join. It is still dependent on NATO security forces, and its economy is extremely weakâat least 40 percent of the population is unemployed...
...summit in Brussels on March 1, German Chancellor Angela Merkel rejected the call for a mass bailout. Luxembourg Prime Minister Jean-Claude Juncker, who chairs meetings of the eurozone's finance ministers, dismissed the idea of relaxing the entry criteria to the euro. And French President Nicolas Sarkozy, who just a few weeks ago raised the specter of a return to protectionism when he suggested that French carmakers should close their factories in the East and move home, accused Eastern Europe of putting the entire E.U. at risk...
...center of the drama is Maria-Elisabeth Schaeffler, 67, the grande dame of one of Germany's richest industrial clans. Last year she spearheaded her car-component company's dramatic 12 billion euro ($16 billion) takeover of a larger rival that left most of Germany breathless - but not quite with admiration. Such buyouts had more often been associated with predatory foreigners (e.g., Americans) than with fellow Germans. The audacious bid smacked of hubris to many Germans and angered labor unions, who warned that the Schaeffler Group was biting off more than it could chew. Indeed, it soon came under immense...
...European elections in June looming, Cowen has the dual task of saving his party at the polls and repairing the damage to Ireland's international reputation. Once the shining economic success story of Europe, the country has been routinely described in recent months as the weak link in the euro zone and even suffered the ignominy of being cited as a potential recipient of aid from Germany last week, alongside other struggling E.U. states like Hungary...