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...speech to Germany's banking élite, Merkel also acknowledged that Europeans were under pressure to deal with the issue of toxic debt. "I am dying to see how the American model will work and whether private-sector incentives can actually sell the more difficult assets," she said skeptically. "But we can't dodge the issue because otherwise it will take far too long before the banks can return to their full strength...

Author: /time Magazine | Title: Why Berlin Says U.S. 'Bad Bank' Plan Is Bad | 3/30/2009 | See Source »

...which is made at the Center. The most expensive product, an anti-aging cream, contains dried, freshly-hatched larvae and retails for 47,000 rubles ($1,300) for 15 grams. The idea for the cosmetic range came after the collapse of Communism, when pharmacies were no longer required to sell leeches. "We had no money and the staff would go several months without wages," says Nikonov. "We had too many leeches and we wanted to try and create something exciting and profitable." Nikonov explains that the deconstructed leeches become ingredients in a cream, helping it the skin's surfce...

Author: /time Magazine | Title: Leeches: Fresh Blood for Russia's Economy | 3/28/2009 | See Source »

...index fell 2.03%, with 84% of its stocks moving lower. One bit of good news: Friday's decline occurred on relatively light trading volume, and was not surprising given that stocks had risen so far in a short time. Yet a decline is still a decline, and the sharper sell off in financial stocks, which were down 3.4% on Friday, raises questions about the many challenges the industry - and the broader market - still face...

Author: /time Magazine | Title: Has the Stock Market's Rally Run Its Course? | 3/27/2009 | See Source »

...eclipse them all in trips to the continent. On Thursday, Sarkozy began his fifth African sojourn in less than three years with a trip to the Democratic Republic of Congo (DRC), a violence-plagued Central African nation that of which most Western officials steer well clear. His goal? To sell his ambitious plan economic cooperation aimed at bring peace to some of the region's embattled countries - and in the process restore French influence in Africa...

Author: /time Magazine | Title: Behind President Sarkozy's Africa Trip | 3/27/2009 | See Source »

...People will still need (greener) cars, still want to read quality journalism, still listen to recorded music and all the rest. And so as some of the huge, dominant, old-growth trees of our economic forest fall, the seedlings and saplings - that is, the people burning to produce and sell new kinds of transportation and media in new, economic ways - will have a clearer field in which to grow...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

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