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...While that has triggered revenue-raising measures like a crackdown on tax evasion, there's little sign of the deep spending cuts the country needs to rebalance its books. What's more, reviving growth will mean shifting from an economy founded on domestic consumption to one driven by exports. "That's going to be extremely difficult, given that [the Greeks have] allowed their cost competitiveness within the euro zone to erode massively," says Tilford. "We're still seeing big increases in Greece's wages." (See the top 10 worst business deals...

Author: /time Magazine | Title: Why Greece Could Be the Next Dubai | 12/9/2009 | See Source »

...four genes. The reprogrammed stem cells are then programmed again to develop into mice, a feat that has been accomplished before only using embryonic stem cells. Breeding an entire mouse that is itself capable of reproducing - as the mice did in one of the Chinese labs - is a strong sign that iPS cells may be as useful as embryonic stem cells for a potential source of treatments for disease, scientists said. See the Top 10 Scientific Discoveries...

Author: /time Magazine | Title: TIME's Top 10 Medical Breakthroughs of 2009 | 12/8/2009 | See Source »

...program - called the Community Living Assistance Services and Supports (CLASS) Act - would be funded by premiums and would pay enrollees $50 or more per day if they became too disabled to perform normal daily activities like eating and bathing. Employers who chose to participate would sign up their employees, who would then have the ability to opt out. The cash benefits could be applied to nursing-home care, but in an effort to encourage enrollees to stay in their own homes, payouts could cover such things as wheelchair ramps and wages for home health care aides...

Author: /time Magazine | Title: Should Long-Term-Care Insurance Be Part of Health Reform? | 12/8/2009 | See Source »

There is still plenty of room for improvement, according to the AAA. The CLASS Act doesn't include sufficient funding to market the program, meaning participation will be low - the CBO says 5% of the population would sign up, the CMS actuary says 2.5%, and AAA says 6%. Such low participation would not allow risk to be spread out enough to keep premiums affordable; in that case, the program could end up in an "insurance death spiral," in which premiums are so high, only those who know they'll need coverage sign up, driving up premiums even further until they...

Author: /time Magazine | Title: Should Long-Term-Care Insurance Be Part of Health Reform? | 12/8/2009 | See Source »

...While stability is returning, this relative peace is fragile. Iraqi officials and oil executives have rushed to sign contracts before national elections scheduled for January, since no one knows whether the current government will remain in power. Shahrastani is under fire from opposition politicians, who are complaining of widespread corruption and mismanagement in his ministry. In addition, oil contracts signed during the past five years with the Kurdistan Regional Government, whose three semiautonomous Iraqi provinces until recently exported about 100,000 barrels of oil a day, have been declared illegal by Baghdad, forcing Kurdish leaders to halt exports in October...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

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