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...five countries that signed the agreement - Turkey, Romania, Bulgaria, Hungary and Austria - have been working on the ambitious $11 billion Nabucco project for seven years. The development of the pipeline, which will run initially from the Turkish capital to Baumgarten in Austria, has been beset by political bickering. But if completed as planned by 2015, the line could bring up to 31 billion cu m of gas a year from the Caspian Sea and the Middle East across Turkey and into Europe. (See pictures of Obama in Europe...

Author: /time Magazine | Title: Europe Tries to Break Its Russian Gas Habit | 7/13/2009 | See Source »

...demand. By contrast, Russia exports 140 billion cu m of gas to the E.U. every year. But Nabucco could break Russia's stranglehold over countries that are most dependent on its gas and most vulnerable during winter cutoffs, such as Bulgaria, Slovakia and Romania. That dependence has also long undermined the E.U.'s efforts to create a common market for European energy, with transparent pricing and a single negotiating stance with suppliers like Russia...

Author: /time Magazine | Title: Europe Tries to Break Its Russian Gas Habit | 7/13/2009 | See Source »

...Prince Emanuele Filiberto of Savoy, grandson of Italy's last King, who is campaigning for this week's European Parliament elections. Or to Rickard Falkvinge, the founder of Sweden's Pirate Party, whose campaign rallying cry is for free file-sharing over the Internet. Or to Elena Basescu, a.k.a. Romania's Paris Hilton - the flashy It girl, who happens to be the daughter of the Romanian President, also wants to become...

Author: /time Magazine | Title: The European Parliament: Where the Fringes Flourish | 6/3/2009 | See Source »

...astronaut Vladimir Remek; Finland's four-time winner of the Paris-Dakar rally, Ari Vatanen; Bulgarian Taekwondo champion and nightclub impresario Slavi Binev; and Paul Georg Maria Joseph Dominikus von Habsburg, the grandson of the last Austro-Hungarian emperor. Also making a bid is Gigi Becali, the owner of Romania's Steaua Bucharest soccer club, who is facing kidnapping charges...

Author: /time Magazine | Title: The European Parliament: Where the Fringes Flourish | 6/3/2009 | See Source »

...rises over the Singapore Strait another long day for Arnold Lee begins. On a launch chugging out of Singapore harbor, the shipping agent's job that morning is to smooth the immigration process for three anxious-looking seamen, from Greece, Ukraine and Romania, who are joining the crew of a 200-m-long bulk carrier anchored an hour southeast of Singapore. As the Greek chief engineer sits in the launch, nervously fingering a string of black prayer beads, Lee clambers aboard the ship, the Anaisa Ionna, from a rope ladder dangling from its side. Forty-five minutes later the Singapore...

Author: /time Magazine | Title: Plunge in Trade Is a Boon for Singapore Ship Suppliers | 5/20/2009 | See Source »

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