Eurozone finance ministers were to confer by telephone on Saturday after 12 hours of talks in Athens failed to produce a breakthrough on a deal to bail out Greece, the Greek finance minister said. Evangelos Venizelos added that a planned meeting by eurozone ministers on Greece originally scheduled for Monday would now be held on Wednesday. "I will participate in a Eurogroup telephone conference at 1230 GMT" to discuss details of a rescue deal for Greece worth 130 billion euros ($171 billion) which officials have been trying to seal since October, the minister said in a statement. "Critical issues pertaining to the country's ...
Australia's flood crisis deepened Saturday as authorities braced for waters to peak in Queensland where one woman is missing after being swept away while elsewhere thousands remain stranded by the surge. Prime Minister Julia Gillard said eight military helicopters would help in search, evacuation and resupply missions in the eastern state, where days of heavy rainfall have prompted hundreds of evacuations and dozens of rescues. "The helicopters will be available to assist in rescue operations as required until the immediate crisis has passed," Gillard said in a statement. In the inland Queensland town of Charleville authorities are on alert amid fears a temporary ...
Tens of thousands people are braving the bitter cold at two major rallies in downtown Moscow on Saturday as a power play between champions of political liberalization and supporters of Prime Minister Vladimir Putin continues to unfold. The first demonstration demands fair elections at the March 4 presidential polls, at which Putin is expected to secure a third term in the Kremlin. It also calls on Russians “not to give a single vote” to Putin. The opposition rally is widely seen by analysts as a litmus test of protesters’ ability to maintain momentum after two earlier protests against alleged vote fraud in favor of ...
German Chancellor Angela Merkel on Saturday wrapped up a visit to China where she tried to reassure her hosts on the strength of the euro and Europe's ability to overcome its debt crisis. During her three-day trip to the world's second largest economy, Merkel praised the advantages of the single currency and urged China to put pressure on Iran and to condemn Syria at the United Nations. Merkel, who was prevented from meeting journalists and a human rights lawyers, ended her official visit in the southern city of Guangzhou, Xinhua news agency reported. Merkel, who held talks with Premier Wen Jiabao and President ...
Norway’s government has said it wants non-European immigrants to carry residency cards equipped with data chips bearing their fingerprints. In a proposal presented on Friday, the justice ministry said the new identity cards would help tackle illegal immigration. “The residency card system will increase security surrounding residency permit documentation, thereby contributing to the prevention of illegal immigration and illegal residency,” said Justice Minister Grete Faremo (Labour Party) in a statement. The move follows pressure from the European Union to ensure that immigrants from outside the European Economic Area, of which Norway is a member, are provided with residency cards that include fingerprint details. Faremo ...
Greece expects its 2011 budget deficit will be smaller than expected at between 9.1 and 9.4 percent of GDP, thanks to an emergency property tax, a finance ministry official said on Friday, a development that could help Athens in its bailout talks with the EU and IMF. Greece, which is racing to complete talks with the EU and the IMF on a second bailout worth 130 billion euros, had previously estimated that the deficit would be above 9.5 percent of GDP. "The numbers aren't final yet but we believe the deficit will come in at between 9.1 and 9.4 percent (of GDP)," ...
China has rejected Japanese protests over alleged improper exploration of gas deposits in the East China Sea. The Foreign Ministry said Friday the recent activity had taken place within Chinese-controlled waters and was completely normal. A ministry statement said China was strongly dissatisfied with recent comments from Japanese officials. Japan's chief Cabinet secretary on Wednesday said Japan protested to China after a flare was seen a day earlier at a Chinese structure at an undersea gas deposit. The deposit, known as Kashi in Japan and Tianwaitian in China, sits near a median line in the countries' overlapping exclusive economic zones. Japan and China agreed ...
The leader of Russia's Islamist rebels ordered a halt to attacks on civilians, saying mass opposition protests showed the public no longer supported Vladimir Putin, according to a video posted Friday. Doku Umarov, whose Caucasus Emirate group claimed atrocities including a deadly Moscow airport bombing in 2011 and a metro attack in 2010, said from now only security objects and officials would be targeted. "I order all special groups that are carrying out or plan to carry out special operations in Russia to put a halt to these operations that could hurt the peaceful population," Doku Umarov said in a video address ...
China's Premier Wen Jiabao said Friday the Asian giant had neither the ability nor the intention to "buy Europe", amid concerns over growing Chinese investment in debt-stricken eurozone economies. China is "willing to cooperate with Europe to fight the current crisis. Some people say this means China wants to buy Europe", Wen told a German-China business forum in the southern city of Guangzhou. "This a concern and doesn't fit reality. China doesn't have this intention and doesn't have this ability." German Chancellor Angela Merkel, in China for a three-day visit to boost her host's confidence in Europe, also attended the forum along with ...
Energy Secretary Chris Huhne is to resign from the Government after it emerged he is to face prosecution over allegations that he asked his ex-wife to take a speeding penalty for him. The Liberal Democrat MP has been charged with perverting the course of justice after an investigation into the 2003 incident by Essex Police. His former wife, the economist Vicky Pryce is also facing charges of perverting the course of justice. They are due to appear before Westminster Magistrates' Court on February 16. The maximum sentence for perverting the course of justice is life in prison, the CPS and the Sentencing ...
Joran van der Sloot has been given a 28 year sentence in prison in Lima for the aggrevated murder of 21 year-old Stephany Flores in May 2010. This means with a sentence reduction for the amount of time he has spent on remand, he will released in 2038. After which he will be deported from Peru. Earlier this week the Dutchman pleaded guilty to all charges hoping to be given a reduced sentence. The Public Prosecution had demanded 30 years in... [more]
The heavy rainfall that accompanied the storms of the past few days have led to critically high water levels in the northern-most provinces of Groningen and Friesland. On Thursday, a dike near the Groningen town of Tolbert was in danger of collapse, but the situation there has since stabilised. On Friday, the condition of a dike along the Eems Canal became critical. About 800 inhabitants of several villages along the canal have been evacuated. State... [more]
The euro is unlikely to “vanish” this year, IMF chief Christine Lagarde said Friday, but warned a report this month will show the global economy growing slower than the 4.0 percent estimated in September. “Will 2012 be the end of the euro? My answer is, I don’t think so,” she told a press conference during a visit to South Africa. “The currency itself is not likely to vanish or disappear in 2012.” “Will... [more]
Britain will not accept the European single market being discussed by any group other than the full 27 members of the European Union, Prime Minister David Cameron said on Friday. “Why are we in the organisation (European Union)? We’re there because we’re a trading nation, and we want access to the single market and a full say about the rules of the single market,” Cameron told BBC Radio 4. “What we can’t... [more]
Amsterdam’s most expensive shopping thoroughfare, the P.C. Hooftstraat, has come in at number three on the list of the world’s nicest places to shop. Singapore’s Orchard Road came at the top of the list, which is in its fourth year of publication. Luxembourg’s Avenue de la Liberté came second. The list is compiled by the international shopping public on behalf of the French marketing agency Presence. Almost 400 shops,... [more]
The Dutch have never before been so gloomy about their financial future. One third expect their situation will deteriorate in the next 12 months. During the financial crisis of late 2008 that percentage was at just 20 percent. The above figures were published by the Social and Cultural Planning Office (SCP) in its quarterly reportCivilian Perspectives based on a survey it conducted among 1,000 citizens between 4 October and 2 November. The... [more]
The European Central Bank put an end Tuesday to a bitter battle between France and Germany over a key post within the bank by naming a Belgian to the highly coveted position of chief economist. The ECB said executive board member Peter Praet of Belgium would be taking over as the head of its economics department, succeeding Jürgen Stark of Germany, who stepped down at the end of 2011. Praet, who turns 63 later this month and has been a... [more]
Royal Dutch Shell Plc said it is eyeing potential opportunities in South Sudan, which last July broke away from Khartoum, taking with it two-thirds of Sudan’s 500,000 barrels per day of oil production. “We continuously review potential business opportunities around the world. We would like to better understand the current security, political and business environment in South Sudan, and how this has been impacted by the secession,”... [more]
European shares were set to fall on Monday in the first trading day of the year after making their biggest yearly fall since 2008, as global growth worries hit investor sentiment with Chinese purchasing managers’ index (PMI) data suggesting factories in the world’s second largest economy were struggling. Trading is expected to be light, with the UK market closed for a bank holiday and many other markets such as the United States... [more]
European stocks mostly fell Thursday and the euro struggled to recover from an 11-month dollar low, with investor sentiment extremely fragile before another key Italian bond auction, dealers said. In morning deals, London’s FTSE 100 slid 0.11 percent to 5,501.36 points, the Paris CAC 40 dipped 0.11 percent to 3,067.79 points, while Frankfurt’s DAX 30 added 0.20 percent to 5,782.16 points. Milan’s FTSE Mib benchmark index... [more]
