Word: euros
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Once a haven for hippies, Marrakech has outgrown that phase along with its visitors. Today, it's a showcase of high design, mixing Euro cool with the medina's rich colors. The "new Marrakech" look is keeping local craftsmen busy: if you spy a piece[an error occurred while processing this directive] of furniture you like during your stay, most places will sell it to you and ship it back home...
...birthrate collapsed in the 1990s and has only now begun to turn upward again, helped by incentives including 15 months' maternity leave on full pay. And while the nation has prospered by linking its currency to the German mark in the 1990s and to the euro this decade, it is paying a price for not having a monetary policy of its own: it is very limited in its ability to bring inflation down from its current 5%. That rate is the only remaining impediment to Estonia adopting the euro as its currency. None of this has deterred investors. Foreign money...
...away along the villa-studded expanses of the Côte d'Azur, or in one of the popular resort towns of Spain's Costa Brava. Instead, Vassort is one of a growing number of European pensioners jumping the Mediterranean to Morocco - and getting much more bang for their euro. "We have a wonderful life in Morocco, so it's easy to understand why more French people are coming to live here," says Vassort, who lives with his wife and lumbering labrador Othello among the serpentine streets of les Oudayas, the ancient casbah of Morocco's capital, Rabat. "The Moroccans...
...middle class longing to be homeowners themselves must often move up to 30 km from cities to find affordable housing. "There's some resentment over people being squeezed out," says Belmaheb, who has bought a new vacation apartment in the Residence Chatea complex outside Rabat. "But people know the euro is almighty." For their part, the emigrés don't want to ruin what they came for. "On the one hand, you fear this flow from Europe and development to cater to it may undermine things that make Morocco so special," says Billaux, the Rabat homeowner. "On the other...
...mechanism, called multilateral consultations, designed to bring together groups that are economically large enough to resolve common problems while being numerically small enough to engage in candid discussion. Depending on the problem, the group will vary?for example, the first multilateral consultation brings together China, the Euro area, Japan, Saudi Arabia and the U.S. to discuss how to narrow global trade imbalances...