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...spend more than what was in your bank account. But falling housing prices, loan-modification programs and restricted credit have changed the calculus of what debts get paid first for many Americans. What's more, the recent credit-card reforms might make it more attractive for more consumers to put their credit cards before their home loan...
...problems with the Lisbon agenda, such as the fact it had too many targets and there were political splits on issues like opening up labor markets. But another issue was that E.U. leaders were simply unwilling to overhaul their economies - and there was no enforcement mechanism in place to put them into line. Ann Mettler, head of the Lisbon Council, a Brussels-based think tank, says European leaders have been too cautious about reform, backing off, for example, when it comes to tackling energy oligopolies and inefficient, formerly state-run telecom operators. "We are in a state of crisis...
...Barroso sees this is a crisis-driven leap into further European economic integration. Euro-zone finance ministers are already putting Greece's budgetary policies under more scrutiny than any member state has ever had to endure - and there are now suggestions that similar measures could be taken with economic policies at the E.U. level. In January, Spanish Prime Minister José Luis Zapatero even called for countries to face "corrective measures" if they under-perform economically, although that idea was quickly shot down by Germany, Britain and the Netherlands. Herman Van Rompuy, the new E.U. President, put forth a more...
...Europe 2020 strategy is likely to be put through a number of changes before it is formally endorsed later this month. But whatever it ends up saying, it is expected to be roundly heralded by E.U. leaders as their miracle cure. Whether they are ready to swallow the medicine they have prescribed themselves remains to be seen...
...Fast Food Nation author Eric Schlosser as a co-producer and Omnivore's Dilemma author Michael Pollan as a consultant, Kenner's film takes consumers on a journey from the supermarket aisle to meat-packing plants to Congressional food-safety hearings to demonstrate how a handful of corporations often put profit ahead of consumer health, worker safety and the livelihood of the American farmer. (See a video interview with Michael Pollan...