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Russia first lay claim to the Arctic in July 2007, when Vladimir Putin signaled his intention to annex the entire North Pole, an area twice the size of France, Belgium and Switzerland combined. Currently, five countries - Russia, the U.S., Canada, Norway and Denmark - each control a 200-mile economic zone along their coasts in the Arctic region. None of these economic zones reach the North Pole. Under the current U.N. Maritime convention, one country's zone can be extended only if it can prove that the continental shelf into which it wishes to expand is a natural extension...

Author: /time Magazine | Title: Why Russia Is Bailing Out Iceland | 10/13/2008 | See Source »

...Khosal says, the locals "were thinking it was the Taliban who had done the shooting. Then they heard someone calling out. It was the Australians' interpreter, who was surprised and was asking, Who are you?" When Khan's men replied, "We are police," Khosal says, they were told to lay down their weapons. Khosal says the Australian troops offered no medical assistance to the wounded Afghans. The ADF spokesman says that continuing fire meant the Australians could not remain at the scene without "unacceptable risk...

Author: /time Magazine | Title: Fatal Error | 10/9/2008 | See Source »

...financial rescue plan. No money for the greedy fools of other lands, she seemed to say, only to then guarantee German private bank accounts and save Hypo Real Estate. That followed similar moves by Ireland and Greece. And Britain's Gordon Brown will always be loath to see Brussels lay its regulatory hand on London's City; 
 his recapitalization of Britain's banking sector was no less unilateral than Merkel's actions...

Author: /time Magazine | Title: Gloat at Your Peril | 10/9/2008 | See Source »

...result is a strange but nourishing stew of interviews, anecdotes and entries from Glass' diary that lay bare Gray's high self-esteem, but also capture his reckless enthusiasm for every project that takes his fancy; his poems, plays, political treatises, paintings, drawings and even typography all deftly recycle the stuff of his own life story. Born in Glasgow's East End in 1934, Gray was always as at home with words and pictures as he was set apart from society by his lifelong asthma and eczema. At Glasgow's School of Art, he specialized in mural-painting before graduating...

Author: /time Magazine | Title: Shades of Gray | 10/9/2008 | See Source »

...practical matter, is that small businesses and some large businesses just can't get loans. If they can't get a loan, that means that they can't make payroll. If they can't make payroll, then they may end up having to shut their doors and lay people...

Author: /time Magazine | Title: The Obama Surge: Will It Last? | 10/9/2008 | See Source »

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