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...they quickly paid off. Over the many deals, BVG received cash payments from the American investors totaling €68.9 million, or about $90.6 million at current exchange rates. BVG in turn paid the American investors monthly rent to use the equipment, a return the Americans enhanced with that big tax break. For its part, BVG used the money it derived from the deals to pay down debt, which has saved it €35 million ($46 million) in interest payments. It was a shell game of sorts, but everyone made out - except, of course, the U.S. taxpayers, who were unwittingly subsidizing...

Author: /time Magazine | Title: German Cities Suffer in the U.S. Financial Crisis | 4/9/2009 | See Source »

What's the answer? The hiatus is over. Now we have to return to basic principles and put this back together again. You've got a new U.S. Administration determined to take this forward, and you've got an Israeli government that at least is going to be empowered to make decisions [because of its majority in Knesset]. For all these reasons we're back in with a shout. (See pictures of Tony Blair's friendship with George W. Bush...

Author: /time Magazine | Title: Tony Blair on Restarting the Middle East Peace Process | 4/8/2009 | See Source »

...another new twist, Paras also told the New Paper he may return to Nepal and participate in electoral politics, heading up a party of "young professionals and bankers." But it seems unlikely the deeply unpopular 37-year-old - an embodiment, for many, of royal excess - would gain much from such a venture. "That's what everyone in Nepal is laughing about," says Kunda Dixit, editor of the Nepali Times, a Kathmandu-based weekly. "It's remarkable how quickly people here have otherwise forgotten the monarchy," he says...

Author: /time Magazine | Title: Revisiting Nepal's Palace Massacre | 4/8/2009 | See Source »

...energy. This year, Kathmandu has suffered routine 17-hour power cuts, which have led to a drying up of foreign investment. Enduring fuel shortages have sent commodities' prices soaring, and the financial downturn has led thousands of overseas workers - whose remittances comprise some 16% of the national GDP - to return home unemployed. National security has also deteriorated, partly as a consequence of the government's failure to integrate the roughly 30,000-strong Maoist rebel army, still quartered in remote camps throughout the country, with the formerly royalist state forces. Some frustrated Maoist commanders have even called for the overthrow...

Author: /time Magazine | Title: Revisiting Nepal's Palace Massacre | 4/8/2009 | See Source »

...turn a poor and fractious nation into a flourishing democratic state. When Obama laid out his new strategy last month, he made it clear that the mark of success would be the ability "to disrupt, dismantle and defeat al-Qaeda in Pakistan and Afghanistan and to prevent their return to either country in the future." But accomplishing even that comparatively limited objective at this stage will require a massive and sustained U.S. Commitment - one that involves more than military boots on the ground. Al-Qaeda still thrives in the ungoverned tribal areas along the border between the two countries...

Author: /time Magazine | Title: The U.S. in Afghanistan: The Longest War | 4/8/2009 | See Source »

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