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...ended in reluctant pledges to help eastern Europeans, but only on a country-by-country basis, as well as repeated mantras about avoiding protectionism. But if the show of unity was unconvincing, the issues are very real. Crashing exchange rates, soaring debts and failing banks: eastern European economies have fallen far faster and harder than their richer, Western neighbors. Czech Prime Minister Mirek Topolanek - whose country currently holds the E.U.'s presidency - says the developing recession is "the greatest crisis in the history of European integration...

Author: /time Magazine | Title: As the Crisis Bites, Splits Open Up in Europe | 3/2/2009 | See Source »

...Since the accident, Zachery's renovations have stalled. He has fallen behind on the yard work and hasn't gotten around to hanging his father's portrait - a striking shot of a muscular man in dark briefs. Jerome Zachery wrestled professionally in the 1950s before settling into family life. The champ used to tell his sons, "As long as you have a place to keep the dew off your head, you're O.K." Facing foreclosure, Joseph Zachery worries about pride more than shelter, though. He has rented a storage unit so that his belongings will never be dragged...

Author: /time Magazine | Title: House of Cards: The Faces Behind Foreclosures | 2/27/2009 | See Source »

...Both the rant and the laments are too broad. Not everyone who has fallen behind on a mortgage is a loser complicit in the housing collapse. And not every solvent American has broken faith with those who are struggling. Obama, in presenting his mortgage plan, promised to distinguish between the sinners and those unlucky bystanders dragged down by the economy's undertow. His lifeline, he insisted, will not "rescue the unscrupulous or irresponsible." Delivering on that promise is vital to Obama's future, because hope is a tough sell to people who believe that only the wicked prosper. And though...

Author: /time Magazine | Title: House of Cards: The Faces Behind Foreclosures | 2/27/2009 | See Source »

...you’d rather spend you night listening to the sweet sounds of a capella than Flo Rida’s latest hit, this is the spot for you. Two female a capella groups, the Opportunes and the Fallen Angels (hence the clever title) are holding a concert in Sanders Theater tonight. What's more Harvard than spending your Friday night listening to a capella? (Maybe doing that...

Author: By Lauren D. Kiel | Title: Party Party! | 2/27/2009 | See Source »

...efforts to counter the economic slump seem to have turned more positive." The happy mood also showed up in Chinese stocks. By mid-February, the Shanghai stock market had surged more than 30% since the beginning of the year, making it the world's best performer. (The index has fallen off slightly since.) (See 10 things to do in Shanghai...

Author: /time Magazine | Title: China's Economy: Rare Signs of Optimism | 2/27/2009 | See Source »

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