Word: euro
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...country when they meet for a summit in Brussels on Thursday and Friday. If the E.U. can't come to terms on a rescue plan, he says, Greece will be forced to turn to the International Monetary Fund (IMF) - a move that could undermine the credibility of the euro. (See pictures of the global financial crisis...
...Merkel is effectively daring him to do it. Speaking to the German Parliament in Berlin last week, Merkel said that calling in the IMF "would probably have to be the way out right now if action were to be taken." She went on to say that the euro-zone countries should be able to kick out one of their own to avert a crisis in the future - a statement deliberately aimed at Greece. (See the top 10 financial-crisis buzzwords...
Europeans are gloating this week. The continent might be struggling with ballooning debts, a faltering euro and national strikes, but when the U.S. House voted in favor of President Barack Obama's health care bill Sunday night, March 21, Europeans seized the moment to thumb their noses at Americans and remind them that they've had pretty good health care for decades...
...those days that then-Secretary of State Madeleine Albright once famously referred to it as "the black hole in the heart of Europe." Since then, however, Slovakia has caught up with and even surpassed its Eastern European rivals, joining NATO and the European Union in 2004 and adopting the euro in 2009. (Czechs, meanwhile, are still using the koruna...
...more about Greece and the euro...