Displaying time and timezone information to the user (what, not how)

Question

(This is a question about the UI rather than the technology required to do it)

What is the clearest way to display a time for events occurring in different timezones

Answer 1

Display it with the Timezone abreviation

Instead of

15:18 GMT+1

Show it as Central European Time

15:18 CET 

People are More used to seeing their own timezone