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...evasion and corruption. But during the years of plenty there was little external pressure for the country to mend its ways. Now, with Greece's public debt ballooning out of control and Greece accused of putting the integrity of the euro at risk, the stakes are higher. Greece must cut spending and raise more revenue or risk defaulting on its debt. (See pictures of the global financial crisis...

Author: /time Magazine | Title: Taxing Times in Greece | 2/15/2010 | See Source »

...point that is key to Haiti's becoming self-sustaining, and that is cultural change. The mix of West African religious and cultural influences prevalent in the country, like voodoo, sends the message that life is dictated by magic, and planning has no effect on the future. Haitian culture must be redeveloped and restructured, and although the circumstances are tragic, this is a time to change in order for the country to move forward and, as Clinton puts it, "escape the chains of the past 200 years." Norman Singer Cary...

Author: /time Magazine | Title: Inbox | 2/15/2010 | See Source »

...root of Greece's current problems. In a country of 11 million people, almost 850,000 workers are employed by the state, which means they receive 14 monthly paychecks instead of 12. Many enjoy a work day that runs from 7:30 a.m. to 2:30 p.m. "The state must change the mentality of the public employee," says one investor and economist, Timos Mellisaris, who calls Greece's public sector "the last communist frontier." Greeks like to point out that the state started to put on serious weight in the early 1980s when the current Prime Minister's father Andreas...

Author: /time Magazine | Title: Greek Tragedy: Athens' Financial Woes | 2/15/2010 | See Source »

...make a real break with the past, the Greek state must also go global, say business executives and business analysts. Athens needs to lure foreign investors aggressively, which means offering everything from tax breaks to helping investors navigate the bureaucracy associated with setting up shop. "We must transform Greece into a welcome place to do business," says Eurobank's deputy CEO Nikolaos Karamouzis. The potential for future investment - in tourism and renewable energy in particular - is promising. Wind-energy generation alone is expected to increase fivefold in the next decade. "The new Greek government seems determined to push the 'green...

Author: /time Magazine | Title: Greek Tragedy: Athens' Financial Woes | 2/15/2010 | See Source »

...paying appropriate taxes? Does this mean Haitian leaders will direct foreign aid to health care facilities, water and sewage systems, education, job training and proper building construction? Or after this acute crisis has passed, will Haiti return to baseline poverty? The ethics of those who run this little country must change or be coerced to change...

Author: /time Magazine | Title: Inbox | 2/15/2010 | See Source »

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