Word: waye
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...criteria for admission to Europe's new currency union. First, the drachma's value was fixed to that of hard-money countries such as Germany and the Netherlands, and its long decline against the dollar slowed. Then in 2002, the drachma exited the currency stage, giving way to the euro...
...could borrow at lower interest rates than before. The country boomed, with real GDP growth topping 3.8% for eight straight years. (During the same 2000-07 run, U.S. GDP growth never hit 3.7%; Germany didn't make it past 3.2%.) It seemed as though Greece had landed a one-way ticket to economic good times...
...size of its $357 billion economy (about 120% of GDP). It no longer has the option of eating into those debts by inflating its currency. In fact, it has no power to use monetary policy to ease its pain, as the Federal Reserve has been doing in a big way in the U.S. The only options for Greece are to 1) scrimp and save to convince creditors that it can keep paying them off, 2) convince its fellow euro-zone countries--or maybe the International Monetary Fund--to bail it out, 3) default on its debts or 4) pull...
...reality TV was a novelty. In 2000, it was a fad. In 2010, it's a way of life...
Look at the title of Survivor's 10th-anniversary season, starting this month: "Heroes vs. Villains" - that is, those who played decently vs. those who "just played the game." Plenty of fans were entertained by Richard Hatch, who lied his way to the first-season title (often while buck naked). But a million dollars and one tax-evasion conviction later, do they admire...