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...there was a risk, and it would end up costing German taxpayers dearly. It related to a term set down in the leasing contracts - massive tomes, written in English, which required the Germans to take out policies with AAA-rated insurers to cover the value of the assets for the life of the lease. Should the insurer lose its top rating, the Germans would have to either find another insurer or, in the worst case, provide additional collateral to guarantee the assets. It was a scenario that no one expected could emerge - until the financial crisis...

Author: /time Magazine | Title: German Cities Suffer in the U.S. Financial Crisis | 4/9/2009 | See Source »

...alcohol on [Dipendra]." According to Paras, the crown prince had intended to take down his popular father ever since Birendra relinquished absolute power after pro-democracy protests in 1990. The loss of that political mandate was made worse for Dipendra after his father scuttled an arms deal with a German riflemaker that could have yielded the prince a windfall of over $1 million. "That was the real trigger," claimed Paras, though former aides to the monarchy have denied such a transaction was ever in the works...

Author: /time Magazine | Title: Revisiting Nepal's Palace Massacre | 4/8/2009 | See Source »

...There were eight other travelers aboard our long-tail motorboat, seven of whom were German and most of whom were staying at Thomas' guesthouse, Neptune. Thomas, also German, did the entertaining while our Khmer captain steered with his foot and drank an Angkor beer. The first two hours took us south past islands dotted with stilted fishing villages painted in blues and greens and oranges, then through a mangrove forest, into the Gulf of Thailand. There we hit the jackpot: a school of dolphins jumping in the waves...

Author: /time Magazine | Title: Beyond Angkor Wat: Cambodia's Hidden Coast | 4/7/2009 | See Source »

...borrowed a couple of sturdy helmets from Bob, the Australian restaurateur who runs Bob's, in town. Then we headed east about 12 miles out of town to check out the Tatai waterfall with two friends we had met on the boat the day before - a 20-something German woman who was traveling solo in Asia for six months and a dreadlocked guy we resorted to calling the Wanderer because when asked where he was from, he said, "My last address was Berlin, but I am now a man with no address," and when we asked for his name...

Author: /time Magazine | Title: Beyond Angkor Wat: Cambodia's Hidden Coast | 4/7/2009 | See Source »

...town hall in Strasbourg, France, Obama stood before an audience of mostly French and German youth and admitted that the U.S. should have a greater respect for Europe. "In America, there's a failure to appreciate Europe's leading role in the world," he said before offering other European critical views of his country. "There have been times where America has shown arrogance and been dismissive, even derisive...

Author: /time Magazine | Title: Barack Obama's New World Order | 4/3/2009 | See Source »

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