Word: helpings
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Dates: during 2000-2009
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...Since the days of Franklin Roosevelt and the service and sacrifice of our grandparents, our country has borne a special burden in global affairs. We have spilled American blood in many countries on multiple continents. We have spent our revenue to help others rebuild from rubble and develop their own economies. We have joined with others to develop an architecture of institutions - from the United Nations to NATO to the World Bank - that provide for the common security and prosperity of human beings...
...question remains, if the central bank in Abu Dhabi decides it no longer wants to help out its construction-crazed, oil-bereft dependent, what assets would Dubai be able to offer up to the foreign banks who are owed billions? (Read about the Dubai debacle and the world financial crisis...
...much of Dubai has been built on short-term loans, based on the idea that income from the projects would buoy liquidity and help roll forward debt payments. For example, Dubai's driverless metro system, one of the most advanced in the world, is financed through three-year notes, which the city-state believed they could renew as ticket fees helped pay the interest. Now, the international consortium that is building the system - including the Japanese construction giants Mitsubishi and Obayashi as well as the Turkish company Yapi Merkezi - are probably left with huge fees unpaid...
...Nakheel, the Dubai World subsidiary behind huge property projects like the Palm and the World, built on injected sand off the Gulf coast. "It will take a bit of time, but Dubai will come back," a Dubai insider told TIME. "It will come back stronger, because the crisis will help create a more sustainable model for the future...
Both the economic scapegoating of immigrants and the vision of the league's White Christmas irk the Comunita di Sant'Egidio, an influential Catholic lay group that defends immigrant rights. "The insults and rhetoric help to exploit uncertainty and create political consensus," says Mario Marazziti, Sant'Egidio's spokesman. "But in the end, it is against the national interest. Italy is in demographic decline, and the only real chance is to work to integrate immigrants, who are the last hope for the country to start to grow again. All the rest just creates conflict and puts off resolving this crisis...