Word: globalization
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...Perhaps, then, it's only fitting that Greek government debt is the biggest threat to global financial stability today. Warning that Greece was in "critical condition," Prime Minister George Papandreou recently said that his country "faces the risk of sinking under its debt." Jitters over a potential Greek default have punished the value of Europe's common currency, the euro, and driven down stock markets around the world. Policymakers worry that Greece's woes will spread to other weaker members of the euro zone, such as Portugal, Ireland, Italy and Spain - a collection of countries traders have nicknamed the PIIGS...
...could double to 94%. Japan is the worst of the bunch, with its ratio likely to top 200%. Just as risky private-sector indebtedness caused the Great Recession, government debt, if not addressed, threatens to stall economic growth and spark renewed waves of confidence crises in global financial markets. "Attention has shifted to the second part of the story, to the impact [of the financial crisis] on government balance sheets," says David Beers, global head of sovereign ratings at Standard & Poor's in London. That has "intensified the pressure that was already there to start a process of repair...
...still consider U.S. Treasury bills a safe haven. In a January report, Barclays Capital argued that the cost of the crisis on the U.S., the U.K. and Japan would be spread over many years and is therefore less scary than it may appear. "We do not believe that the global crisis is a watershed for the long-term fiscal sustainability" of those countries, the report said. (Read "Greek Tragedy: Athens' Financial Woes...
...tiger. But the laws are patchily enforced. In December the SFA released a directive promising better protection of wild tigers and a sterner crackdown on the illegal trade. Many conservationists remain unconvinced. "We've heard these words before from China," says Mike Baltzer, leader of the World Bank - backed Global Tiger Initiative at the conservation group WWF. "We're waiting to see if they really have any teeth." Vivek Menon, executive director of the Wildlife Trust of India, says China's responsibilities are clear. "They've saved the panda," he says. "Now they must do the same for the tiger...
...bomb is strong, at least according to PayScale, a global online compensation data company. It turns out that Harvard graduates can boast the second-highest mid-career median salary, tied with MIT for $126,000. Only kids from Dartmouth make more mid-career bank...