Italy Slides Into First Recession in 11 Years
The conflict in Iraq hurt consumer confidence and a sharp rise in the euro sapped strength from the Italian economy. By The New York Times. [New York Times: International] 
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East on the Danube: Hungary's Tragic Century
You know immediately when you arrive in Hungary from Austria that you have crossed from one historical zone, one domain of experience, into another... By Richard Bernstein. [New York Times: International] 
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EU vs Microsoft: The US reaction
Some interesting US reaction to the EU's verdict on Microsoft, delivered yesterday, is summed up at the Washington Post today. A general thought is that even a $3bn fine - the absolute maximum fine the EU can levy on Microsoft for its abuses of monopoly power - would be good news for the software company. Why? They've got a cash pile of $49bn. The EU could do its worst (which, incidentally, it is unlikely to do anyway) and it would be little more than an irritation at Redmond. Once the EU hands down the fine, Microsoft can pay up and get on with business as usual. There's a quote I like from Forbes's Dan Ackman: "For Microsoft, the long-anticipated charges create a sense of deja vu..." [onlineblog.com]

Any bets?

 
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