Word: sovereign
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...worried much when S&P downgraded the sovereign debt of The Ukraine or the Republic of Kazakhstan. Now, the trouble has moved much closer to home as the credit agency lowered its credit rating outlook for the U.K. from "stable" to "negative." The agency is concerned about the increase in government debt and decrease in GDP. The action may make it more difficult for the British government to raise money or, alternatively, it may force the country to pay higher interest rates. (See pictures of the global financial crisis...
...Israeli leader made clear that he wants the Palestinians to govern themselves but added the caveat that self-governance would be "absent a handful of powers that could endanger the State of Israel." (Netanyahu believes Israel's security cannot tolerate the Palestinians having such typical features of statehood as sovereign control over their own borders, air space and defense and foreign policies.) And while he committed to holding talks with the Palestinian Authority, he added a new precondition for peace, requiring that the Palestinians recognize Israel as a "Jewish state." Palestinian Authority President Mahmoud Abbas, who will visit the White...
...With that in mind, Nasheed announced a contingency plan late last year that titillated the foreign press. From its tourist revenues, the Maldives would set aside a chunk of money each year. It would combine that with aid from richer nations and the Commonwealth, and build a sovereign fund that could one day go toward purchasing new territory for the country's climate refugees in far bigger nations like India or Australia. "At the end of the day, we are talking about needing dry land," says Nasheed bluntly. "It is a myth to assume that humanity has always been stationed...
...Maldivians - who pride themselves on thousands of years of unique history at the hub of Indian Ocean sea routes - want to leave, and Nasheed knows the sovereign fund is a last resort. Efforts now aim at shaping the country into a climate-change laboratory. In mid-March, the government announced its intention to be the world's first carbon-neutral nation within 10 years. The archipelago's coral reefs can also provide an invaluable testing ground for scientists. "Coral is the bedrock of our nation," says Azeez, who works at a coral-research and -regeneration facility at the Banyan Tree...
...bring Asia together as a single, loosely formed economic entity lead by China and Japan, two of the four largest countries in the world as measured by GDP. The program makes the region financially stable, probably more stable than Europe is now with its rising unemployment, stagnant economies, and sovereign debt which faces downgrades in many cases. (See pictures of Obama's recent trip to Europe...