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...date, an apparent terrorist attack on the Tunisian island of Djerba targeted one of the last remnants of North Africa's 2,000-year-old Jewish community. The attack, which may have been timed to coincide with the start of the trial of five al-Qaeda suspects in Frankfurt, left 16 people dead, including 11 German tourists. Arab leaders think the U.S. must do more to pressure Israeli Prime Minister Ariel Sharon into ending Israel's incursion and making peace with Arafat instead of humiliating him. "Without active U.S. assistance, the region will face many problems," said Lebanese Prime Minister...

Author: /time Magazine | Title: Trouble on the Streets | 4/21/2002 | See Source »

...means of generating personal income and not of assisting terrorists. Prosecutors contend they have convincing evidence to the contrary. First, they note, fake passports containing spelling and grammatical errors identical to those belonging to Cherifi were discovered in a December 2000 raid of an al-Qaeda cell in Frankfurt. And telephone numbers for members of that group, who were alleged to have been plotting an attack on Strasbourg's Cathedral and Christmas market, were found on Cherifi's mobile phone...

Author: /time Magazine | Title: Terror's Little Helpers | 2/11/2002 | See Source »

...electronic organizer, say police, was a number for Abu Doha, an al-Qaeda sympathizer and recruiter now held in Britain and sought by the U.S. for complicity in Ahmed Ressam's plan to blow up Los Angeles airport. Doha is also known to have had regular contact with the Frankfurt cell. Investigators suspect Cherifi may have also received direct instructions from Doha during four trips he made to London in the first seven months of 2000. "Two visits were spent at Baker Street, the other two at Finsbury Park," the French official says, referring to two London venues suspected...

Author: /time Magazine | Title: Terror's Little Helpers | 2/11/2002 | See Source »

...European bank loses hundreds of millions by gambling on the financial markets while his superiors remain clueless for months. When he can no longer hide the losses, the trader disappears. At this point the stories diverge. Unlike Leeson, who fled from his Singapore base to Borneo and then to Frankfurt, Rusnak never left town and, his lawyers insist, was not a fugitive. The other difference: seven years ago, Leeson's losses of $1.3 billion from dodgy derivatives deals were large enough to bankrupt his employer, Barings Bank; it was taken over by the Dutch group ING. Allied Irish, in contrast...

Author: /time Magazine | Title: Déjà vu on the trading floor | 2/11/2002 | See Source »

However, a single currency will also make Europe's economies more difficult to manage. The European Central Bank in Frankfurt must set a single interest rate for rural and still developing countries like Portugal as well as advanced ones like Germany. Unlike governments in other vast currency areas--in particular, the U.S.--the European Union doesn't yet have the power to adjust for regional imbalances with federal taxes and spending...

Author: /time Magazine | Title: Follow The Money! | 1/14/2002 | See Source »

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