Word: primed
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...credit line through a new facility that doesn't impose the same sort of rigid conditions that gave the organization such a bad name in the past. That prompted Stephen Timms, financial secretary to Britain's Treasury, to crow: "We have gone beyond the era of stigma." India's Prime Minister Manmohan Singh said he viewed Mexico as a precedent, and concurred with Timms. "We are very happy that the [loan] conditions are being relaxed," he said...
...question is whether the IMF is up to the job being thrust upon it. The huge boost to its reserves exists on paper, but it's not yet clear where all that money will come from. Japan has pledged $100 billion. Gordon Brown, the British Prime Minister who hosted the G-20 summit, said the European Union would put up $100 billion and that China would provide $40 billion. But Chinese officials wouldn't confirm that amount - and even if the money is forthcoming, it still leaves $260 billion unaccounted for. At a time when governments are financially overstretched, that...
...Buddhism forbids intoxication. Yet excessive drinking is deeply rooted in the culture. "Thais are fun-loving people," said a recent editorial in the newspaper Thai Rath. "We all know that a party is not complete without drinks." This perhaps explains the ban's lukewarm reception from British-educated Prime Minister Abhisit Vejjajiva's government. The Tourism Minister claimed it would drive away foreign visitors and further damage a vital industry already reeling from global recession and the shutdown of Bangkok's two airports by antigovernment protesters last year...
...swindlers were indeed getting away with it. As early as 2004, at the height of the housing frenzy, FBI officials were warning Congress of a mortgage fraud catastrophe: firms like Capital Force were illegally "flipping" properties, often using bogus "straw buyers"; unscrupulous appraisers were inflating their values; sub-prime borrowers lied about their assets; and predatory lenders duped customers into adjustable-rate loans that turned out to be financial time bombs. But according to the Justice Department, prosecutions of cases like those actually dropped between 2000 and 2007. Because so many law enforcement resources were thrown at terrorism during...
...prepared by advisers, and thus far "not always up to standard on decision-making and efficiency." And those turned out to be relatively kind words. Sarkozy said German Chancellor Angela Merkel had been reluctantly forced by economic realities to copy his own policies for dealing with the recession. Spanish Prime Minister Jose Luis Rodriguez Zapatero, said the French President, was simply "not very clever." (Read why Jacques Chirac is more popular than Sarkozy...