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...country went through five Presidents in just two weeks. Wall Street feared that the crisis, one of the worst in South America's history, would spread next door to giant Brazil--where the élite predicted financial ruin if Luiz Inácio Lula da Silva, head of the left-wing Workers' Party, was elected President that year--and even to stable Chile, where executives groused over glasses of Chilean Cabernet Sauvignon that the U.S. Congress might block Santiago's free-trade pact with Washington...

Author: /time Magazine | Title: Latin America's Peculiar New Strength | 11/15/2007 | See Source »

...orient them about aviation manners," she says. "People have money, but they do not know how to behave. We want to acquaint them with the cost of a plane, the safety aspects, how to treat the hostesses." Still, for many passengers, the experience is mainly about letting dreams take wing. The weathered Airbus is "beautiful to sit in," says local resident Anisha Khan, who recently took a few hours out from caring for her three children to take a ride. "When we have more money, then we'll go on a real plane...

Author: /time Magazine | Title: Postcard: New Delhi | 11/15/2007 | See Source »

...with a jerk. It had never occurred to them before that the Queen had the raw constitutional power to do such a thing. It cranked up the long-dormant impulse toward republicanism. Until the 1970s this had been an issue only for intellectuals and a few left-wing workers whose vehemence earned them an undeserved reputation as ratbags (obsessed eccentrics). The problem was democratizing the republican issue while detaching it from the ownership of the Australian left. And it did slowly broaden, though its main political instrument, the Australian Republican Movement (A.R.M.), didn't come into existence until the 1980s...

Author: /time Magazine | Title: The Real Australia | 11/14/2007 | See Source »

...ntefering had recently quarreled with Chancellor Angela Merkel over her refusal to introduce a minimum wage; he had also tussled with his own party's left wing over government plans to roll back welfare reforms introduced under the previous SPD-led government. But already questions have shifted from what engendered Müntefering's departure to what it could mean for the future: a leftward shift in the SPD, the end of any meaningful economic reforms for the current German government, and possibly the opening salvo in elections expected...

Author: /time Magazine | Title: Germany's Coalition Takes A Hit | 11/14/2007 | See Source »

...With Müntefering gone, Steinmeier, Beck and Merkel herself are expected to pay more attention to the coming elections than to securing Germany's economic well-being. "With this event, the centrifugal forces that will tear this coalition apart have come into full view," wrote the left-wing Berlin daily Tageszeitung. "Müntefering's retreat from politics is coming at a particularly bad time," added Die Welt, a center-right daily. "Müntefering was the most effective anchor keeping the SPD from drifting to the left. Now the Grand Coalition will no longer concentrate on their similarities...

Author: /time Magazine | Title: Germany's Coalition Takes A Hit | 11/14/2007 | See Source »

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