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...banking sectors and a further $200 billion in stimulus funding to revive their economies. Although the latter helped the 16-nation euro zone exit the recession in the middle of 2009, it also lifted already lofty deficit levels even higher - and brought Greece and Spain perilously close to default. Late last year, the European Commission put a handful of other nations on alert out of similar fears, including France and Ireland...

Author: /time Magazine | Title: The U.S. Is Not Alone — Europe's in Debt Too | 2/2/2010 | See Source »

...also looking unlikely that the U.S. Senate will pass carbon-capping legislation anytime soon - Obama lost a key vote for cap and trade when Republican Scott Brown won the late Senator Ted Kennedy's seat in a special election in Massachusetts - and that could potentially invalidate the U.S. Copenhagen pledge and throw the continuing international climate talks into further disarray. "Unless [the U.S.] is serious about its own commitments, there will be a very serious impact on the talks," said Rae Kwon Chung, South Korea's ambassador on climate change. (See the world's most polluted places...

Author: /time Magazine | Title: Climate Accord Suggests a Global Will, if Not a Way | 2/2/2010 | See Source »

...Legrand is gasping for air. “Lover of Mine” is the most instantly accessible track on the album, where the starlight sounds are only slightly offset by the deepness of Legrand’s voice. “10 Mile Stereo,” a late album highlight, follows suit with an uncertain organ and a quick, almost Postal Service-esque beat...

Author: By Kelsey C. Nowell, CONTRIBUTING WRITER | Title: Beach House | 2/2/2010 | See Source »

Thomas Jefferson, one of America’s most widely read forefathers wrote, “The best government is the government that governs least.” What Jefferson intended was for a system of self-regulating government. The financial crises on Wall Street and Main Street in late 2008 exposed the fissures of this political philosophy. The abject lack of oversight by the Securities and Exchange Commission, the Bush administration, and Wall Street executives resulted in a full-blown recession and difficult financial times for all Americans...

Author: By Patrick Jean Baptiste | Title: The Necessary Regulation | 2/2/2010 | See Source »

...France unfairly fingered a U.S. company in order to protect the Concorde's legacy? In late January, a documentary on the French network Canal+ argued that point. In the film, several eyewitnesses say they remembered seeing flames coming from the plane on the runway before it hit Continental's stray metal piece, suggesting that something was wrong with the Concorde itself. That is a key point in the defense strategy pursued by Continental's lawyers, who say they have 28 witnesses who can provide similar testimony. The lawyers told the Parisien newspaper last Friday that they intend...

Author: /time Magazine | Title: Fault of the Concorde: An Icon's Day in Court | 2/1/2010 | See Source »

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