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...also has superfluous airports, oversized water-treatment plants and a collection of heavily subsidized industrial white elephants, all built at the taxpayers' expense. "Floodlit sheep meadows," grumbles Reiner Holznagel, managing director of the German Federation of Taxpayers. "In every district you can find projects that make you shake your head." Among the most egregious: the now-bankrupt firm Cargolifter, which tried to build a modern Zeppelin airship with tens of millions of government dollars. (See pictures of the Top 10 scared traders...
...asset classes, when economic growth begins to return. Other experts argue against a rapid rebound, because inventories are high for commodities such as oil, and because demand for natural resources has been so thoroughly squelched in some industries that it may not fully recover any time soon. Francisco Blanch, head of commodities research for Merrill Lynch in London, says he doesn't expect overall demand will return to 2007 levels until 2011 at the earliest. "Over a number of years we will get back to supply constraints," says Blanch, but "it won't happen over the next...
...rise an estimated 2 ft. (60 cm) this century, enough to inundate a good portion of the country, many of whose 1,200 isles sit just 3 ft. (1 m) above the ocean. "For us, fear of sinking is no different than the fear of persecution," says Ali Rilwan, head of Bluepeace, a local environmentalist group...
...head of what is the main opposition group, the Dhivehi Rayyithunge Party (DRP), Gayoom declined to talk to Time. Thasmeem Ali, his deputy, defended Gayoom's record, insisting the pace of development and reform that Gayoom oversaw suited the Maldives' particular conditions. "People borrow all sorts of political terms - dictatorship and so on - that don't fit here," says Thasmeem. "Gayoom remains our party's and this nation's greatest asset...
Cardinal Walter Kasper, the Pope's point man for Christian-Jewish affairs, says Benedict believes "Germans have a special obligation to do something more for the Jewish-Christian relationship." But it's not apparent that the Pope views the Holocaust with a sense of personal remorse. Wolfgang Benz, head of the Center for Research on Anti-Semitism in Berlin, notes that generalized remorseful feelings "started with [Germans] about 10 years younger" than the 82-year-old Pope. Members of Benedict's generation tend to judge themselves strictly on the grounds of personal culpability. Moreover, the Pope identifies heavily with...