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...Before the euro, a financial crisis in Europe went hand in hand with currency woes: a run on weaker currencies, heavy intervention by central banks and finally a collapse of the parity system. "I've lived through currency devaluations, and they are fraught with anxieties," says Hans Martens, chief executive of the European Policy Centre. "But the way the euro coped with the financial crisis was absolutely great. You have a big island of stability, with small nations protected when the big waves became rough...

Author: /time Magazine | Title: Is the Euro the New Dollar? | 1/1/2009 | See Source »

...standing armies," says Stephen Dycus, who teaches national security law at Vermont Law School and co-authored a book on the subject, National Security Law. "Posse Comitatus is one expression of that. We've always had a problem of having the military involved in civil affairs. On the other hand, if we got in a bind, such as a plague released in Chicago, the only way to get out is to have the military involved. They've got the personnel, the training and the experience in use of force that other parts of the government don't have...

Author: /time Magazine | Title: Should the Military Be Called in for Natural Disasters? | 12/31/2008 | See Source »

...cart, Obama, wearing sunglasses, a white shirt, khaki shorts, white and brown golf shoes, and a red baseball cap emblazoned with the City and County of Honolulu's Ocean Safety logo, drove down to the driving range. Standing next to Whitaker, Obama , with a white glove on his right hand, took three practice swings. His first shot was a ground ball straight ahead. His next shot went airborne but created a divot that Obama walked out to pick up and replace...

Author: /time Magazine | Title: How Good is Barack Obama at Golf? | 12/31/2008 | See Source »

...middle of the fairway and hit a shot that flew low and straight for about 75 yards before landing at the front, center-edge of the green. More than 100 people sitting on a rock wall along the fairway applauded as Obama approached and he put his gloved right hand to his mouth to signal for quiet pointing to another member of his group who was getting ready to shoot...

Author: /time Magazine | Title: How Good is Barack Obama at Golf? | 12/31/2008 | See Source »

Obama lined up his putt then tapped the ball about a dozen feet before it stopped within a foot of the cup. The crowd applauded and Obama turned to them, put his hand above the bill of his baseball cap, and bowed...

Author: /time Magazine | Title: How Good is Barack Obama at Golf? | 12/31/2008 | See Source »

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