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...wish for the tiny nation of just 320,000 people. But last fall's abrupt economic collapse forced Iceland to rethink its traditional skepticism about the E.U. In the space of just days, as huge debts tore at Iceland's banking system, the country went from being one of the world's richest nations per head to virtually a failed economy. The statistics tell a stunning story: Iceland's currency, the krona, shed nearly half its value; inflation rose to over 12%; the stock exchange fell 89%; a $10 billion IMF bailout was sought; half the country's businesses became...

Author: /time Magazine | Title: Iceland's Urgent Bid to Join the E.U. | 7/17/2009 | See Source »

...home. For all the coverage of the Iranian election and its aftermath, Iraqis have been transfixed by a domestic story. The June 12 assassination of prominent Sunni leader Harith al-Ubaidi threw Iraqi politics into turmoil, raising the frightening prospect of a return to the sectarian war that nearly tore the country apart in 2006-07. Those fears have abated somewhat, but Ubaidi's murder continues to dominate the headlines. "Iranian politics is interesting, but for us, it is a sideshow," says Amr Fayad, a political analyst in Baghdad. "We are worried about our own politics." (See pictures of life...

Author: /time Magazine | Title: What Iraqis Think About Iran's Election Turmoil | 6/16/2009 | See Source »

...debate may be rendered moot by the financial woes of the wealthier countries, especially the current holder of the G-8's rotating leadership position, Italy. Geldof on Thursday tore into Prime Minister Silvio Berlusconi's government, which he called a "crowd of shysters" at a press conference. "How can you possibly trust any government that promises something, does nothing, and expect them to lead the world?" he fumed to reporters. "How dare they...

Author: /time Magazine | Title: Why Wealthy Nations Are Stiffing Africa | 6/12/2009 | See Source »

...Bangladesh NO SHELTER FROM THE STORM With winds gusting at 70 m.p.h. (about 115 kph), Cyclone Aila tore through parts of coastal Bangladesh and eastern India on May 26, killing roughly 200 people and forcing 500,000 to seek refuge in shelters and on rooftops to escape rising floodwaters. The death toll is expected to increase as rescue workers gain access to more isolated areas. Low-lying Bangladesh is regularly gutted by cyclones in the spring and fall, which precede and follow its monsoon season. Aila also hit Sundarbans, a mangrove forest on the India-Bangladesh border that shelters endangered...

Author: /time Magazine | Title: The World | 6/8/2009 | See Source »

Paul is a 45-year-old teacher who tore his Achilles in a basketball game two weeks earlier. The first orthopedist he saw went into a long talk about risks and benefits and scared him out of his wits. With a torn Achilles tendon, there are just two things to do: either sew it up (which means doing a small operation) or put a cast on with the foot flexed down. The cast treatment isn't as good - it won't restore normal power - but there are none of the risks of surgery (like scarring and infection). So he demanded...

Author: /time Magazine | Title: Fixing Health Care: When Patients Don't Know Best | 6/5/2009 | See Source »

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