Word: lightful
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Brown's speed-of-light transformation from champion of market liberalization to strict regulator has left even his allies shaking their heads in disbelief. "Who would have dreamed that a financial crisis would have given Labour a lifeline?" marvels former Home Secretary David Blunkett. One reason is that Brown has shifted blame to greedy bankers (he inveighs against "the age of irresponsibility") and to America's subprime mortgage debacle. "It is pretty clear to me that this problem started in America," Brown declared as he unveiled the bank bailout. The idea of a global contagion originating in a distant country...
...that debt shouldn't go over 60% are about to be consigned to the trash heap - at least temporarily. "Fiscal rules are going to have to be abandoned," says Buckley of Deutsche Bank. The E.U. commission, which is the keeper of those rules, has already given its green light. "The existence of exceptional circumstances allows a deficit temporarily above but close to 3% of GDP not to be considered as excessive," it said after the announcement of the coordinated bank bailout. The crucial word there is "temporarily." Much of Europe's economic growth over the past few years came about...
...consequences of Reaganomics. At the time, the country had a national debt of $2.7 trillion. The original 25-foot-wide, 1,500-pound, 306-bulb sign cost more than $120,000 to create and install. (It now costs more than $500 a month to operate and maintain the light bulbs). Durst told reporters he had no plans to ever remove the clock. "It'll be up as long as the debt or the city lasts," he said, adding, "If it bothers people, then it's working...
...Overall the conditions were very rough,” Himler said. ”It was unexpected and really light and choppy on the water.” Himler led the Crimson, placing fifth with a total of 89 points...
...partly due to heightened supply. As ex-Soviet republics emerged as economic actors in their own right, several countries developed national arms industries, refitting weapons from their stocks and manufacturing new weapons of their own. Those industries have taken off in recent years. Ukraine has about 6 million light weapons from Soviet stockpiles, and has modernized tanks, anti-aircraft missiles and other weaponry, says Hugh Griffiths, an expert on illicit weapons at the Stockholm International Peace Research Institute. A dramatic example of Ukraine's reach is playing out off the Horn of Africa, where a major shipment of Ukrainian weapons...