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...Paris courtroom last week, 42 officials went on trial for taking millions in kickbacks and organizing huge arms commissions from the Angolan government during the mid-1990s. In the dock were such big names as Charles Pasqua, a former French Interior Minister; Jean-Christophe Mitterrand, the son of the late French President François Mitterrand; and Russian-Israeli billionaire Arkadi Gaydamak, who is currently a candidate for mayor of Jerusalem. The group is charged with having supplied almost $800 million worth of arms to Angolan President José Eduardo Dos Santos, including 12 helicopters, 6 naval vessels...

Author: /time Magazine | Title: The Arms Trade Booms Amid Global Economic Woes | 10/14/2008 | See Source »

...governments have now decided that letting the state effectively get control of ailing banks is the way out the current financial mess. But the French government really messed up the last time it had control of a chunk of the nation's banking system. That was when President Francois Mitterrand nationalized banks in the 1980s. In fact, for a good part of the 1990s, the French budget was knocked sideways because of the losses incurred at just one state-run bank, Credit Lyonnais. The German state's track record in banking isn't much better. Regional governments own some...

Author: /time Magazine | Title: Will Europe's Bank Bailout Plan Really Work? | 10/13/2008 | See Source »

...distinction of his wife, Carla Bruni. Sarkozy's audacious Union for the Mediterranean summit in July 2008 in Paris, and his high visibility in his current six-month stint as President of the European Council, stand in striking contrast to the leaden final years of François Mitterrand's second term, or to the two mandates of Jacques Chirac. From the Caucasus to Damascus, it seems, France is back...

Author: /time Magazine | Title: Nicolas Sarkozy: At Home Abroad | 9/17/2008 | See Source »

...terror. In 1992 a Rome court convicted Petrella in absentia for her role in the 1981 murder of a police inspector and the kidnapping of a judge. The following year, Petrella fled to France and an open-ended deal proposed in 1985 by French President François Mitterrand: amnesty for Red Brigades members who gave up their battle in Italy to lead law-abiding lives in France. So it was that Petrella set up house near Paris in 1993, raising her two daughters and working as a social services employee...

Author: /time Magazine | Title: France Frees Sick Italian Terrorist | 8/5/2008 | See Source »

...pressure and protest from Italy led ruling French conservatives to scrap the Mitterrand amnesty in 2002, thus leaving Petrella and scores of other repented Red Brigades militants in France vulnerable to arrest under outstanding Italian warrants. That's precisely what happened to Petrella in August, 2007 following a routine police road check; she's been in prison ever since...

Author: /time Magazine | Title: France Frees Sick Italian Terrorist | 8/5/2008 | See Source »

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