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...more than a decade boasted growth rates three times the E.U. average, Spain's once booming economy has been hit especially hard by the downturn. Spain's GDP is expected to shrink 1.6% in 2009, and the first place that young people feel the contraction is in their purchasing power. "Kids today have grown up with consumerist expectations and feel frustrated when they can't maintain them," says Alberto Saco, sociologist at the University of Vigo. "But more frustrating is what is happening to their expectations about work and housing." (Read: "Ireland's Economy: Celtic Crunch Time...

Author: /time Magazine | Title: The Broken Hopes of a Spanish Generation | 7/20/2009 | See Source »

Iran needs to realize that it will not divide the Europeans and the U.S. from Russia and China, and that it cannot count on Europe putting its economic interests in Iran ahead of its desire for regional stability. Nor should Iran expect recognition as the single power in its neighborhood - other states have a right to make alliances, and the way to stability in the Persian Gulf region is not to try to drive out powers such as the U.S. but to reconcile different interests within a cooperative security framework. Iran will face further sanctions if it refuses to negotiate...

Author: /time Magazine | Title: Europe and Iran: Time to Talk | 7/20/2009 | See Source »

...mistake was to suggest that we would hold and participate in an off-the-record dinner with journalists and power brokers paid for by a sponsor.' KATHARINE WEYMOUTH, publisher of the Washington Post, after the newspaper sent out flyers advertising $25,000 "sponsorships" for an exclusive salon at her home in which lobbyists could meet with White House officials and the Post reporters who cover them...

Author: /time Magazine | Title: Verbatim | 7/20/2009 | See Source »

...lives at risk or to protect national security. We've done that not only in the case of [kidnapped reporter] David Rohde but other kidnappings as well. We've done it in the case of state secrets. But we can't surrender to the government all the decision-making power...

Author: /time Magazine | Title: 10 Questions for Bill Keller | 7/20/2009 | See Source »

...says something about our media culture that it took a mammoth event held in a sports arena to demonstrate the power of a moment of quiet. Jackson's memorial was an outsize spectacle, befitting an entertainer who engaged the world through outsize spectacles. The performers and eulogizers were A-list, the music anthemic, the casket gold-plated. And yet the service was also cathartic and tasteful, especially compared with the media frenzy that preceded...

Author: /time Magazine | Title: Michael Jackson: Goodbye, or See You Soon? | 7/20/2009 | See Source »

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