Word: zoning
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...financial stability." Europe, by contrast, continues to run a relatively tight fiscal policy. Until the Federal Reserve's most recent increases, European interest rates have also tended to be higher than those in the U.S., and unlike spend-happy Americans, European households stash away substantial amounts. In the euro zone, about 14% of household income is saved, compared with less than...
That level of growth is still relatively weak by U.S. or Asian standards. And it seems to have little effect on stubborn unemployment in the euro zone, where the jobless rate is just below 9%, unchanged from a year ago. But some of the panelists were heartened by what they see as genuine efforts by governments across the Continent to tackle some persistent problems, including a lack of labor mobility and unsustainable health-care and pension systems. In Germany, Chancellor Gerhard Schröder has introduced a slew of new measures designed to create jobs, including unpopular cutbacks in unemployment benefits...
...Call it the Jane Fonda school of economics: no pain, no gain. As in any good workout, the stretching of the euro has forced flabby European companies to become fitter. Since the rising euro means euro-zone goods sold abroad cost more, competitiveness has taken a blow, but not a brutal one. In Germany, for example, overall competitiveness has declined by only about 6% - far less than the dollar's depreciation - according to the Paris-based Organization for Economic Cooperation and Development. How come? For one thing, Germany and the other 11 euro-zone nations now have a much bigger...
...secret meeting is taking place in the bowels of a facility in Baghdad, a cavernous, heavily guarded building in the U.S.-controlled green zone. The Iraqi negotiator, a middle-aged former member of Saddam Hussein's regime and the senior representative of the self-described nationalist insurgency, sits on one side of the table. He is here to talk to two members of the U.S. military. One of them, an officer, takes notes during the meeting. The other, dressed in civilian clothes, listens as the Iraqi outlines a list of demands the U.S. must satisfy before the insurgents stop fighting...
...according to government figures and Hyundai Asan, a company involved in joint North-South industrial projects. This year's transfers?if a planned donation of 500,000 tons of fertilizer goes ahead?will likely be at least $350 million. The new Kaesong industrial park, just north of the Demilitarized Zone, is the most visible symbol of economic cooperation between the two countries. In late 2004, the first of what South Korea hopes will be 2,000 factories built over the next 15 years?all funded by South Korean companies?started churning out stainless steel cookware, called "unification" pots, in Kaesong...