Word: primed
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...global economic meltdown is flattening Russia. In the first week of February alone, some 72,000 jobs vanished, according to Deputy Prime Minister Alexander Zhukov. Some government agencies predict that the number of unemployed may reach 2.8 million by the end of this year, up from 1.5 million at the end of 2008. The ruble has lost a third of its value since last September. Two weeks ago, Deputy Economic Development Minister Andrei Klepach predicted a 2.2% contraction in the economy this year, the first official admission that Russia was facing a recession. (See pictures of Russia's rich aristocracy...
...Gordon Brown expected props back home for being the first European leader to enjoy President Obama's hospitality at the White House and only the fifth British Prime Minister ever to address Congress, he might have reconsidered the fourth paragraph of that speech. Like a nervous entertainer at a particularly rowdy children's party, Brown pulled his rabbit out of the hat almost at the start of his act. Her Majesty - Britain's Queen - had bestowed an honorary knighthood on "Sir Edward Kennedy," he announced...
...Congratulations, Sir Edward Kennedy! I can think of no greater addition to the legend of the American Camelot than the knighthood of one of its most deserving sons just after electing one of its (metaphorically) adopted sons to the Presidency." With British Conservatives divided and American Democrats charmed, perhaps Prime Minister Brown is an accomplished magician after...
...Treasury Secretary Timothy Geithner warned this week that the U.S. recession is deepening and Japan's Prime Minister Taro Aso said there is "no bottom in sight" for his sinking country, many investors turned to China for a measure of hope. There have been glimmers of stability recently in the world's third-largest economy, and Asian stock markets briefly climbed midweek amid reports that Beijing would announce additional stimulus measures on top of the $586 billion it has already said it will spend to revive its slowing economy...
...first year in office of Russia's President Dmitry Medvedev has marked an almost seamless continuity with the policies of his predecessor, Vladimir Putin - who is serving as prime minister until a legal framework is created to allow him to run, once again, for president. But in one potentially important respect, Medvedev is quite different from Putin: A former lawyer, the current president has spoken publicly and frequently about judicial reform to ensure fairness and end what he has referred to as "legal nihilism." Medvedev's promises of reform, if honored, could make a substantial difference to the fate...