Word: euros
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...election campaign. Doubts have grown over the past month about the leadership of Romano Prodi, 67, the former President of the European Commission chosen last year to take on Berlusconi. The recent slump in the E.U.'s popularity is bad news for Prodi, who enthusiastically pushed Italy into the euro zone during his time as Prime Minister. Since public opinion has soured on the European project, opponents would be able to exploit the perception that Europe is a failure, and use Prodi's europhile track record against him. "Prodi has already shown difficulty holding the coalition together," says one opposition...
...Spain's national soccer team. Another uncle, Toni, taught natural righty Nadal to play tennis left-handed, a serving advantage, but his serve still needs work. "Rafa" has Toni as his coach to this day. The family turned down invitations for Nadal to train in Barcelona with other budding Euro pros, shielding him from a culture that often chews up or spoils prospects. During an interview at a tourney in Halle, Germany, last week, the champion's cell phone rings. It's Mom, asking, And when will Rafa be home...
...captures Western investors' feelings about the country's business climate. The Russian economy is powering ahead, propelled by the high price of oil, its key export. Growth exceeded 7% in each of the past two years and is expected to be about 6% this year, more than triple the euro-zone average. Many Russians are still poor and live in wretched conditions, but on the whole, household income is up and, especially in big cities like Moscow and St. Petersburg, people are ready to splurge. The spending boom is creating a merger wave in sectors as varied as banking, brewing...
...north. Berlusconi has tried to satisfy these divergent interests by giving something to everyone, including €6 billion in income tax cuts along with increases in public spending. Result: a growing budget shortfall, which the European Commission warns will equal 3.6% of Italy's GDP in 2005, well above euro-zone limits. "Berlusconi wanted to be like Bush, pursuing an expansionist policy by running a deficit," says opposition MP Enrico Letta. Having patched over coalition differences, the PM is playing it safe - he's stopped calling for income tax cuts, and though he dare not renounce the League's federalist...
What's New? The Pocket Mod Electric Mini Euro from Razor ($229) evokes a vintage Vespa, right down to its mint-green hue. Lasting about 10 miles between charges, it has a twist-grip throttle for easy acceleration. Tip: Don't ride it on city streets. It's not meant to compete with cars...