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...when the bubble burst with the global meltdown last year, these unpaid loans left huge holes in the banks' books and the liberal lending of the Celtic Tiger era came to an abrupt halt. To steady the ship, the government placed a blanket guarantee on deposits in six Irish banks last September. At the time, according to Finance Minister Brian Lenihan, it was "the cheapest bailout in the world." But that claim soon came back to haunt him. In December it emerged that Sean Fitzpatrick, the chairman of Anglo-Irish, the country's third biggest lender, had concealed from shareholders...

Author: /time Magazine | Title: Irish Angry Over Big Bailout of the Country's Banks | 10/26/2009 | See Source »

...First, the pop idol. Stephen Gately was a star in the Irish band Boyzone, which has sold about 30 million records since forming in 1993. Gately, 33, died on Oct. 10 of an acute pulmonary edema while vacationing on the Mediterranean island of Majorca with his civil partner Andrew Cowles. Amid gushing eulogies for Gately, Jan Moir, a columnist with conservative British newspaper the Daily Mail, wrote a piece that questioned whether the singer's death was, as the coroner had ruled, due to natural causes. Moir speculated that Gately's gay lifestyle may have played a part. "Healthy...

Author: /time Magazine | Title: Should Bigoted Speech Be Free? A Debate in Britain | 10/22/2009 | See Source »

...late 18th century, early editions of American medical journals recommend hemp seeds and roots for the treatment of inflamed skin, incontinence and venereal disease. Irish doctor William O'Shaughnessy first popularized marijuana's medical use in England and America. As a physician with the British East India Company, he found marijuana eased the pain of rheumatism and was helpful against discomfort and nausea in cases of rabies, cholera and tetanus...

Author: /time Magazine | Title: Medical Marijuana | 10/21/2009 | See Source »

...promotional materials, the World looks impressive: a scattering of computer-generated islands lush with palm trees and peppered with lavish hotels and villas. Brad Pitt and Angelina Jolie were supposedly interested in buying Ethiopia, although a representative for the couple later denied the deal. An Irish investor (who committed suicide in February, after his company went broke) planned to build a theme resort on Ireland; never mind that the gulf's extreme heat would turn a pint of Guinness into a bubbling black stew. Only one island, reportedly belonging to Sheik Mohammed, ended up occupied, its palms shading a large...

Author: /time Magazine | Title: A Five-Star Ghost Town at the End of 'The World' | 10/19/2009 | See Source »

...turned philanthropist Ibrahim and his board, is nevertheless completely independent. It's a star-studded lineup that is chaired by former U.N. Secretary-General Kofi Annan and includes former Finnish President and Nobel laureate Martti Ahtisaari, former International Atomic Energy Agency head and Nobel laureate Mohamed ElBaradei and former Irish President Mary Robinson. The committee said it would not discuss its thinking behind this year's non-award, though Robinson did note that it would have been hard to award a similar prize to a recently retired leader from any part of the world this year. Ibrahim said that while...

Author: /time Magazine | Title: The Prize for Best African Leader Goes to ... No One | 10/19/2009 | See Source »

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