Word: debts
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Dates: during 2010-2010
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...entrenched social safety nets. Even raising taxes, he says, wouldn't do enough to address the problem. "Look, I don't see these things as third rails anymore," he told TIME. "You literally crush our economy no matter if you try to tax or borrow your way out of [debt]. It's just that unsustainable. The sooner we acknowledge that, the better off everybody's going to be. That's why we have to get out of this political mess we're in, where everybody demagogues each other and nothing gets done because people are afraid to tackle these challenges...
...marked the beginning of Lent. For the country, a period of spartan repentance lies ahead - and not just because the seven-week period of Lenten fasting is starting. After years of overspending by both the government and ordinary people armed with credit cards - and now flush with credit-card debt - Greeks know the party is over. According to a poll released on Feb. 14, nearly two-thirds of people support the government's proposed austerity measures to cut the soaring deficit. Many even believe they don't go far enough...
...year when confronted with the need to bail out their banks to prevent a financial collapse. "I'm against [a Greek bailout], especially since the Greek government cheated in the first place and hushed up the real numbers," says Berlin physician Peter Seidel, 52. (Read "Why Greece's Economic Debt Crisis Threatens the Euro...
...that happens - is likely to be similar in both [countries]," says an adviser to French Economy Minister Christine Lagarde, who commented on background due to the sensitive nature of the situation. "Try explaining to public opinion you're using its money to help Greece after it kept building up debt and lied about it the whole...
Tapping into the economic grievances of average Iranians may be the next phase of the Green Movement, which has so far been strongest among Iran's urban middle classes. As the regime struggles with a mountain of government debt, unemployment and social subsidies, opposition organizers are sensing an opportunity to expand their base socially and geographically beyond the main cities. On Monday, Feb. 15, the head of the Iranian electricity-workers union said that more than 900,000 of its members are about to lose their jobs and that the country could face an electricity crisis and blackouts because...