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...Other industries have been affected by the plunging prices too. Only 10% of all milk produced in the European Union is sold to consumers for drinking. One-third is used for making cheese, a quarter for butter, 12% for cream and the rest for milk powder and other products. Europe's cheese industry has been particularly hurt in the downturn. Unlike milk, which is seen as a staple, cheese is regarded as a luxury, and sales tend to drop off dramatically during a recession...

Author: /time Magazine | Title: Europe's Farmers Spill Milk to Decry Tumbling Prices | 9/21/2009 | See Source »

...European Commission has moved in the short term to help farmers rebound from the global downturn. In January, milk prices fell so fast that officials reinstated export subsidies, a controversial measure that means European milk is sold to the rest of the world at artificially low prices, sometimes destroying local markets in poorer countries. In March, the commission started buying up butter and skimmed milk, raising the specter of new butter mountains. (Officials said because the purchases were temporary and on such a small scale, they resulted only in what could be described as "butter hillocks...

Author: /time Magazine | Title: Europe's Farmers Spill Milk to Decry Tumbling Prices | 9/21/2009 | See Source »

...Nowhere is Germany's obstinate gulf - a division that Germans call "a wall in the head" - more evident than in Berlin. The physical Wall has been all but expunged. In 1989, Mauerspechte - wall peckers - chipped out and sold pieces of the concrete from the Wall's graffiti-strewn western face; later, municipalities sent diggers to do the job more thoroughly. Like a clumsily retouched image, the Wall was airbrushed out of the picture. But its shadow remains, and with it other fractures in German society: generational fissures, cracks between communities that benefited from the fall of the Wall and those...

Author: /time Magazine | Title: Germany's Election: Divided They Stand | 9/21/2009 | See Source »

...Brandon Mathews, who heads Zurich's developing-markets business, isn't figuring out what to sell but rather connecting with customers. Some of his team's more creative ideas: sell unemployment insurance in Brazil on people's utility bills and push personal accident policies in Bolivia via scratch cards sold at newsstands...

Author: /time Magazine | Title: Why The World's Poor Refuse Insurance | 9/21/2009 | See Source »

...couple sold their business to General Mills for $6 million. Nancy stayed on as vice president, and her taste for bright colors and classic clothing continued to inform a brand that has become a billion-dollar empire, with devotees including First Ladies Barbara Bush and Michelle Obama...

Author: /time Magazine | Title: Nancy Talbot | 9/21/2009 | See Source »

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