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...says, the euro's first decade has been characterized by budget rows and debates about the European Central Bank's monetary policy, when the focus should be on correcting big macroeconomic divergences, like Spain's and Ireland's recent (and ultimately doomed) property bubbles. "The euro zone needs more ability to act in times of real crises, or to prevent them," Pisani-Ferry says. "It is a slow process." But one that has come a long way in 10 years...

Author: /time Magazine | Title: Is the Euro the New Dollar? | 1/1/2009 | See Source »

...agency EFE reported that hundreds of Cubans spent Christmas night lined up outside the Spanish consulate in Havana, waiting to pick up the necessary application forms. One of them was William, a 38-year-old resident of Havana, whose reasons for seeking Spanish nationality were not purely cultural. "In Spain, you can work, earn money, live comfortably," he told...

Author: /time Magazine | Title: 500,000 New Citizens for Spain? | 12/29/2008 | See Source »

...That will come as welcome news to the Spanish government, which is currently attempting to reduce immigration into the country. In response to the global economic crisis, Spain's once receptive labor ministry recently introduced a plan that essentially pays unemployed migrants to return to their country of origin. On Dec. 20, the administration extended the period during which police can detain undocumented migrants and barred legally registered immigrants from bringing over any family member of working...

Author: /time Magazine | Title: 500,000 New Citizens for Spain? | 12/29/2008 | See Source »

...Still, the organization she heads does hope for one form of special treatment. Spain's civil code requires potential citizens to swear an oath of loyalty to both the constitution and the King. But the Descendants of Exiles Association sees the latter requirement as "ideological coercion" that restricts freedom of expression, and is asking that it not apply to the citizenship process. "After all," she says, "our parents and grandparents were Republicans...

Author: /time Magazine | Title: 500,000 New Citizens for Spain? | 12/29/2008 | See Source »

...pictures from Spain's tomato festival...

Author: /time Magazine | Title: 500,000 New Citizens for Spain? | 12/29/2008 | See Source »

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