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...Last month, Greek Prime Minister George Papandreou blamed his country's economic meltdown on "an attack on the euro zone by certain other interests, political or financial. We are being targeted, particularly with an ulterior motive or agenda." And according to Spain's El Pais newspaper, agents at the country's National Intelligence Center are investigating whether "attacks by investors and the hostility shown by some sectors of the British and U.S. press" amount to "collusion." "None of what is happening, including editorials in some foreign media with their apocalyptic commentaries, is happening by chance or innocently," Spanish Transport Minister...

Author: /time Magazine | Title: What Caused the Euro Crisis? | 2/26/2010 | See Source »

...there just one alleged plot involved. The colorful Greek Deputy Prime Minister Theodoros Pangalos this week claimed that the Nazi theft of Greek gold during World War II was to blame for the country's ballooning deficit, which has shaken investors' confidence in the euro, causing it to plunge in value against the dollar in recent weeks...

Author: /time Magazine | Title: What Caused the Euro Crisis? | 2/26/2010 | See Source »

Thaksin Shinawatra, the billionaire telecom tycoon who served as Thailand's Prime Minister before being ousted in a military coup, may be a billionaire no longer. On Friday, Thailand's Supreme Court ruled that the government could seize $1.5 billion of the fugitive politician's $2.3 billion in frozen assets after concluding he had enriched himself at the expense of the state through abuse of power and conflicts of interest when he led the country from 2001-2006. The court ruled that the remaining $800 million will stay frozen pending calculation of interest and the settling of other cases...

Author: /time Magazine | Title: Thailand's Ousted Leader: A Billionaire No More | 2/26/2010 | See Source »

...majority decision, at once stunning yet expected, was the highest-profile corruption case ever to come before a Thai court and one of the most controversial. The ruling risked further fracturing Thailand's already deep political divide between those who back the ousted Prime Minister and his opponents. Police and military officers were on full alert across the country, fearing that Thaksin's supporters might riot if the verdict went against him. But while the streets of Bangkok were calm immediately after the verdict was read, Thaksin's allies vowed to hold a massive protest in Bangkok on March...

Author: /time Magazine | Title: Thailand's Ousted Leader: A Billionaire No More | 2/26/2010 | See Source »

...ruling, the Supreme Court found that Thaksin had abused his power as Prime Minister by issuing executive decrees that gave his company, Shin Corporation, hefty tax breaks and tax holidays, among other actions, thereby decreasing the revenue it shared with the state for its telecommunications concessions. The court also concluded that Thaksin, in violation of Thai law, still controlled the company while serving as Prime Minister. He accomplished this, the court said, by using family members and others as nominees and transferring shares in an intricate web of deals through offshore companies in the British Virgin Islands and other...

Author: /time Magazine | Title: Thailand's Ousted Leader: A Billionaire No More | 2/26/2010 | See Source »

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