Word: westerns
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...campus, the Hutton is offering a grand-opening two-night weekend package, "With Love from Nashville," which includes champagne upon arrival, a candlelit dinner for two at the hotel's restaurant, plus a complimentary martini, breakfast and a $5 gift card from Amazon.com - use it to download any country western song you hear around town, the home of the Grand Ol' Opry. Rates start at $479 and are valid Friday through Sunday, through April 30. 1808 West End Avenue...
...major split is over how much Europe's richer western countries should do to help their poorer eastern neighbors. Hungarian Prime Minister Ferenc Gyurcsany has appealed for $230 billion in aid for eastern member states who have been hardest hit by the economic crisis, plus streamlined access to the Eurozone, or the 16 countries who use Europe's common currency. Without help, he says, there is likely to be a new economic "Iron Curtain" across Europe. (See pictures of the changes in Europe...
...only on a country-by-country basis, as well as repeated mantras about avoiding protectionism. But if the show of unity was unconvincing, the issues are very real. Crashing exchange rates, soaring debts and failing banks: eastern European economies have fallen far faster and harder than their richer, Western neighbors. Czech Prime Minister Mirek Topolanek - whose country currently holds the E.U.'s presidency - says the developing recession is "the greatest crisis in the history of European integration...
...report authored last month by Katinka Barysch, of the Centre for European Reform think-tank, says they were merely following E.U. recommendations: opening their markets to trade and investment and selling their local banks to western European ones. It helped to drive the export boom of the past five years but left them more vulnerable to the crisis. Western banks have lent $1.6 trillion to Eastern Europe, but the crisis could see them pull back yank credit lines from their local subsidiaries, triggering a domino effect of collapsing financial institutions...
...when a $31 billion package was announced by the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the World Bank. But World Bank President Robert Zoellick says East European banks need $140 billion of fresh capital, much of which may have to come from Western Europe...