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...economists about quite how much of a basket case Britain has become. "Although the economy is now growing, recovery is still in its early stages and remains very fragile," Brown said in a March 10 speech in the City. Labour says the recovery is due to the government's lead in global efforts to stabilize the banking system and its $30 billion of fiscal stimulus and argues that stimulus spending must continue. Conservatives, however, propose swifter action to reduce Britain's borrowing. That view has been bolstered over recent weeks with the world's three biggest credit-rating agencies raising...

Author: /time Magazine | Title: Deep Funk: Why Britain is Feeling Bleak | 3/29/2010 | See Source »

...been Prime Minister since 2007. But he has deflected blame to global pressures and has made political hay of his rival's lack of experience. "This is no time for a novice," declared Brown in September 2008 as the global financial crisis gathered pace. A Conservative poll lead of 20 points has eroded to the narrowest of margins, not least on fears of the youthful opposition team's collective inexperience. There's another factor that counts against them: the Conservatives have traditionally been seen as the party of the rich, and few Brits are feeling flush. Moreover, Cameron and many...

Author: /time Magazine | Title: Deep Funk: Why Britain is Feeling Bleak | 3/29/2010 | See Source »

...country is to regain the self-confidence, tolerance and humor that marked it as a great nation long after its influence declined, it needs to rediscover a faith in human nature. The mainstream politicians who did so much to dent that faith may not find it easy to lead its restoration...

Author: /time Magazine | Title: Deep Funk: Why Britain is Feeling Bleak | 3/29/2010 | See Source »

...Alportel, Portugal One line really struck me - "Washington, which knows that the world remains a dangerous place ..." - and its implication that Europe doesn't know this. Washington didn't even know that the world beyond its borders existed before 9/11. Then it suddenly discovered terrorism and leaped into the lead in fighting this threat. And who happily signed on? Britain, which had been fighting the IRA for ages and who had seen U.S. support for terrorism dry up (some Irish pubs in the U.S. even had IRA collection boxes); Spain, whose fight with ETA was ignored...

Author: /time Magazine | Title: Europe Speaks Back | 3/29/2010 | See Source »

Then the failed Christmas bombing attempt on a Detroit-bound airliner gave the GOP an opening. Former New York City mayor Rudy Giuliani launched a campaign against the trials, saying they could lead to new terrorist attacks against the city, while Republicans on Capitol Hill prepared to kill the Holder plan by simply defunding the civilian proceedings - just as they had defunded any domestic alternative to Guantánamo Bay a year before. On Jan. 27, the dam broke: New York City Mayor Michael Bloomberg reversed his previous position and said he opposed a trial in Manhattan because it could cost...

Author: /time Magazine | Title: Eric Holder's Trials and Tribulations | 3/29/2010 | See Source »

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