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...rate - up to 19% - in Germany next year. One of the biggest risks is what happens in the U.S., whose economy is just starting to cool as the Europeans heat up. "Much will depend on how abruptly the U.S. slows," says Barbara Böttcher at Deutsche Bank in Frankfurt, who nonetheless expects that the Continent will be able to sustain faster growth for some time. Her peers at Credit Suisse in London are less optimistic, pointing to surveys that suggest business confidence is already starting to decline. And some countries, especially Italy, remain stuck in a rut. Still...

Author: /time Magazine | Title: The Summer Just Got Hotter | 8/20/2006 | See Source »

...same time greatly endanger the already stretched household budgets of Spanish consumers. Some 90% of Spanish mortgages are variable-rate loans, so an interest hike would cause real pain. Squaring that circle would be a difficult task for any central bank. But the European Central Bank in Frankfurt can't worry too much about cooling down Spain when the economies of much of the rest of the euro zone - witness Germany and Italy - are in cryonic suspension. Clearly, the Spanish government has to rely on its own efforts. Late last year it presented an ambitious National Reform Program that promises...

Author: /time Magazine | Title: Can Spain Sustain? | 6/11/2006 | See Source »

...Kappes, who served in the Marines before spending nearly 25 years in the CIA, is fluent in Russian and Farsi and served in the Agency's Frankfurt station running operations against Iran. He rose to become deputy director for operations just before George Tenet stepped down as CIA director in the summer of 2004. But Kappes resigned in November of that year in solidarity with his then-deputy, Michael Sulick, after Kappes refused a request to reassign Sulick several days after an angry run-in with Goss' chief of staff, Patrick Murray...

Author: /time Magazine | Title: Exclusive: Kappes Will Return as CIA Deputy | 6/1/2006 | See Source »

...FRANKFURT: With a personal assistant to wait on you until it's time to take off and limousine transfer across the tarmac to your waiting aircraft, Lufthansa's first-class lounge at Frankfurt raises the bar when it comes to service on the ground. Passengers can work in fully equipped individual offices, rest in private suites, kick back in the cigar lounge, watch movies on demand or dine in the gourmet restaurant...

Author: /time Magazine | Title: Lounging Around | 5/21/2006 | See Source »

...lounge in J.F.K. airport. There are loungers, umbrellas and giant potted plants. Complimentary treatments - including facials and massages - for first-class and Club World passengers at the Molton Brown spa add to the stress-free atmosphere. There are even highfalutin' hydrotherapy showers for the ultimate in pre-flight relaxation. FRANKFURT: With a personal assistant to wait on you until it's time to take off and limousine transfer across the tarmac to your waiting aircraft, Lufthansa's first-class lounge at Frankfurt raises the bar when it comes to service on the ground. Passengers can work in fully equipped individual...

Author: /time Magazine | Title: Lounging Around | 5/16/2006 | See Source »

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