Word: monday
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Luckily, there is an easy way to improve upon the status quo: Congress should vote to make Election Day—that is, the first Tuesday after the first Monday in November—a federal holiday. This is no new idea: Election Day is already a holiday in states such as Delaware, Hawaii, Kentucky, Maryland, Montana, New Jersey, New York, Ohio, and West Virginia. The idea has even been contemplated on the federal level, too. In 2005, Michigan Representative John Conyers proposed the establishment of “Democracy Day,” a holiday that would fuse Election...
...Europe was looking askance not just at the U.S., but also at tiny Iceland, whose government on Monday completed what amounts to an emergency seizure of its oversized banking sector. Prime Minister Geir Haarde went on television Monday night to warn his compatriots that "the Icelandic economy, in the worst case, could be sucked with the banks into the whirlpool, and the result could be bankruptcy." That's not just talk: Iceland's GDP amounts to less than one-tenth of the total assets of its three biggest banks, all of which are in trouble. British financial authorities warned...
...country-by-country fixes of its endangered banks have so far failed to bolster the confidence of investors and depositors. "Europe must prepare to put in place a collective line of defense," Dominique Strauss-Kahn, director-general of the International Monetary Fund, said in a speech in Paris on Monday. "The stability of the world economy is at stake...
...There was a modicum of cooperation on Tuesday, when E.U. finance ministers, meeting in Luxembourg, agreed to increase the minimum value of deposits guaranteed by member states to $68,000, from a previous floor of $20,000. But beyond that, there appeared little movement toward international coordination. On Monday Germany reaffirmed its determination not to participate in France's plan for a Europe-wide bank bailout plan, modeled on the U.S.'s $700 billion effort. Without Germany's participation, no such plan can proceed. "The Chancellor and I reject a European shield," German Social Democrat Finance Minister Peer Steinbruck told...
...from criticism: as Europe's biggest economy, it sets a massive precedent. Indeed, since Merkel's announcement, Denmark, Sweden and Austria have taken steps to offer stronger guarantees to their depositors. Spain is reportedly considering a move to follow suit, and British politicians were in talks with banks on Monday night about a stopgap measure to inject government funds into selected institutions...