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...proposal is different. Having had to nationalize or buy stakes in a string of beleaguered banks since the crisis began, the German government wants to pass the bill for future bailouts to the banks themselves. Lenders "cannot in the future gamble at the taxpayers' expense," Volker Kauder, parliamentary leader for the governing Christian Democrats, told a national TV network Monday. "Provisions must be made so that they - if things get difficult - pay for things themselves." (See the best business deals...

Author: /time Magazine | Title: In Europe, a Tax on Banks Gains Momentum | 3/26/2010 | See Source »

...government and its majority must take into account this thrashing defeat and recognize their failure," said 2007 Socialist presidential candidate Ségolène Royal, who triumphed in the Poitou-Charentes region. "The French people have spoken, and I believe they must be heard," echoed Socialist Party leader Martine Aubry. "Hearing the French people tonight means a profound change in policies...

Author: /time Magazine | Title: French Election Fallout: Trouble Ahead for Sarkozy | 3/25/2010 | See Source »

...advisers for another hour and a half before holding a second half-hour meeting with the President at the Israelis' request. But even that failed to bridge the gap between the two sides over what would constitute an acceptable approach to restarting the peace process, and the Israeli leader remained in Washington Wednesday as aides from both sides worked on the issue. The Administration clearly fears that the hard-line position staked out by Netanyahu on Jerusalem jeopardizes any prospect of getting the Palestinians or the wider Arab world to engage with him, rendering any renewed peace effort stillborn...

Author: /time Magazine | Title: Netanyahu Heads Home, Still at Odds with the U.S. | 3/25/2010 | See Source »

Vatican officials feel more and more convinced that there is a concerted campaign to damage the Catholic Church and its supreme leader. A senior official reacted with disgust after reading the latest article, saying, "It's obvious the New York Times has its mind made up. You have to ask why they didn't print a story earlier this month on the conviction of a Jewish rabbi in Brooklyn on eight counts of sex abuse." The official also referred to a libel case against Oprah Winfrey that involved sex-abuse allegations that was settled quietly on Wednesday. "But then...

Author: /time Magazine | Title: After U.S. Abuse Revelation, the Vatican Fires Back | 3/25/2010 | See Source »

Still, the Pope is the Pope, a global leader with very few equals in terms of pomp, history and circumstance. His links, however indirect, to specific cases of sexual abuse will necessarily catch the attention of both Catholics and non-Catholics. Another priest acknowledged that Benedict being specifically named in the Milwaukee and German cases just makes the news all the more troubling. "It's so volatile right now," he says. "Many of the faithful who were losing confidence in their bishops, now, it's in the Church Universal. What you read in paper: it's a real crucifixion...

Author: /time Magazine | Title: After U.S. Abuse Revelation, the Vatican Fires Back | 3/25/2010 | See Source »

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