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...respect, however, the new focus on the euro underscores an increasingly troubling economic reality: the tensions caused by growing economic divergence among the 12 countries that use the euro. That is a sharp reversal from the 1990s, when candidates for the single currency moved aggressively to bring their economies in line by slashing budget deficits and keeping a tight lid on spending to lower inflation. At the time, advocates of the single currency argued that it would give a boost to Europe's economy and help make it more competitive. Now Europe has entered a period of "deconvergence...

Author: /time Magazine | Title: Currency: Euro-Division? | 6/20/2005 | See Source »

...last, think China's rulers, the world is being put into proper balance. After 500 years during which China fell asleep, it is once more taking its rightful place among the great powers. But most casual observers outside China don't understand that even as the nation gains respect, its people are haunted by a deep sense of past slights. China's long journey toward modernity began not because the dragon gently flexed its scaly muscles but because others prodded it with a sharp stick. When China began to open up to the world 150 years...

Author: /time Magazine | Title: Small World, Big Stakes | 6/20/2005 | See Source »

...have a deep respect for the men and women in the U.S. service. But I wonder if there shouldn't be a course at West Point that allows young cadets to question or challenge authority. Is it ever a mistake to go to war? There are philosophical differences between disloyalty and healthy inquiry. We need to examine all the options before we send our troops into harm's way. Jon Price Pottstown, Pennsylvania...

Author: /time Magazine | Title: Letters | 6/20/2005 | See Source »

...forth from the corridor outside ... The woman is a top member of the cadet Brigade. A formation of her company is just now waiting for her outside the building. 'Hey, Mom, it's time,' calls one of the male cadets ... It's an affectionate nickname, a mark of respect for her record, which brought her a cadet promotion. Like many of the women at West Point, she admits that she likes to cook and sew ... She buckles on a curved saber, wraps a purple sash around her waist. During the inspection a male cadet giggles, and jiggles his eyebrows...

Author: /time Magazine | Title: Letters | 6/20/2005 | See Source »

Robinson is an appealing throwback. In an age in which sports stars tend to spout safely meaningless clichés ("We gave 110%"), Robby speaks his mind. Whereas other managers coddle players, Robinson demands respect. Pitcher Tomo Okha turned his back on the skipper when he lifted Okha from a game. Days later, a trade exiled Okha to Milwaukee. "You've always got to play hard for Frank," says Washington outfielder Jose Guillen, who arrived this season with a hothead reputation but leads the team with 11 homers, sans trouble. "You don't come prepared for the ballpark...

Author: /time Magazine | Title: The Nationals Pastime | 6/19/2005 | See Source »

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