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That would be good for European exporters - and economies. The lion's share of euro-zone exports are sold by small and medium-size companies that constitute the largest generators of employment across Europe. Germany - far and away the euro zone's largest exporter, and the second biggest worldwide - in particular is likely to benefit. "This is a very positive development for all companies in the euro zone who, like us, really feel the effects when the rates rise above the $1.25-to-$1.30 range," says Philippe Lafaure, president of LCL Technology, a Toulouse-based producer of wireless embedded electronic...

Author: /time Magazine | Title: Europe Looks to Export Boost from Weak Euro | 3/5/2010 | See Source »

...statistics released Thursday, March 4, show that growth in the euro zone in the last quarter of 2009 was an anemic 0.1%. But it would have been far worse had euro-zone exports not surged 1.7%. Domestic consumer spending - which has been the main growth motor in Europe over the past year - was virtually flat, while business investment dropped 0.8%. That export activity occurred prior to the recent drop in the euro's value against the dollar. Given that fall, many European exporters hope their increasingly affordable products will start flying off shelves. The reason: beyond its recent drop, some...

Author: /time Magazine | Title: Europe Looks to Export Boost from Weak Euro | 3/5/2010 | See Source »

...inaccurate to characterize a changing of the guard as Harlem's demise. Harlem has matured into a wealthier, more diverse neighborhood that "will continue to be the voice of the black community," he says. Wright, meanwhile, says Harlem's history will prevent it from ever losing its clout. "As far as I'm concerned," he says, "the road to any office, from the President of the United States on down, will always lead through 125th Street...

Author: /time Magazine | Title: Rangel, Paterson and the Fall of a Harlem Dynasty | 3/5/2010 | See Source »

...dramatic federal investigation of Switzerland's UBS has blown the lid off bank secrecy - and revealed how Swiss banks abet tax evasion on a far more widespread, if more banal, level. Over the past two decades, these secret banking services have been peddled progressively downmarket - first to the lesser-known fabulously wealthy, then to just the wealthy; more recently, private bankers have been tripping over themselves soliciting business from doctors, lawyers and other folks who are what the biz generally calls "high net worth" individuals. "The IRS has been concerned for decades that a combination of a global economy...

Author: /time Magazine | Title: After UBS, Swiss Continue to Fight for Bank Secrecy | 3/5/2010 | See Source »

...far, however, such fears have been misplaced. One of the largest Sunni parties, even after its leader had been banned by the de-Baathification committee, rescinded its call for a boycott. Most Sunnis have learned the hard way that money, security, jobs and power come from Baghdad, and they now want their leaders to play the game, even if its rules are less favorable. (See pictures of President Obama in Iraq...

Author: /time Magazine | Title: Sectarian Tensions Remain as Iraq Prepares to Vote | 3/5/2010 | See Source »

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