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...With food prices up 73% and some forecasting unemployment exceeding 10% this year, all eyes are on Sigurđardóttir as she tackles the herculean task of salvaging the island's economy. "The job she is about to take on is both the most difficult and most critical that any Icelander of our generation has taken on," former university rector Runólfur Ágústsson said. "The future of this society depends on how she handles this position...

Author: /time Magazine | Title: Iceland Picks the World's First Openly Gay PM | 1/30/2009 | See Source »

...Staten Island, N.Y. and Winthrop House...

Author: By The Crimson Staff | Title: Announcing the 136th Guard of The Harvard Crimson | 1/28/2009 | See Source »

...campaign—victorious. But aside from the immediate political ramifications, McCain’s remark succeeded in making one thing clear: American policy toward Cuba is woefully out of date. In the transformative spirit of the 2008 election, President Obama should significantly revise our relationship with the reclusive island by lifting the embargo and re-establishing diplomatic relations...

Author: By Jeffrey J. Phaneuf | Title: A More Perfect Neighborhood | 1/28/2009 | See Source »

...Having grown faster than Europe's other big economies over the past decade, British GDP will shrink more this year, estimates the E.U. Brits have begun comparing themselves to Iceland, another north Atlantic island buffeted by financial turmoil. When squatters were discovered living in two $20 million Park Lane mansions, it was taken as a powerful reminder of the recessions of the 1970s and 1980s. "There will be lots more people like me in the coming months," said one of the squatters. Britain's opposition Conservative Party says things could get so bad that the country might have...

Author: /time Magazine | Title: The Proud Pound's Fall from Grace | 1/27/2009 | See Source »

...Early last year, Democratic Congressman Barney Frank of Massachusetts saw the opposing trends and wanted to add an extra $30 million to the kitty, while Sen. Jack Reed, a Rhode Island Democrat, and other Senators wanted to ante up another $50 million. This year, the House approved an SEC budget of $928 million, while the Senate approved $938 million, a 2% to 3% increase, which is greater than the 1% hike former chairman Christopher Cox requested from the 2008 budget of $906 million. The final budget, part of the government's "Continuing Resolutions," has yet to be approved...

Author: /time Magazine | Title: Can Mary Schapiro Revitalize the SEC? | 1/27/2009 | See Source »

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