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 ...
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... [more]
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... [more]
China is considering how to get “more deeply involved” in resolving Europe’s debt crisis by co-operating more closely with European rescue funds, Wen Jiabao, Chinese premier, said on Thursday. China “is investigating and evaluating concrete ways in which it can, via the IMF, get more deeply involved in solving the European debt problem through [European Stability Mechanism/European Financial Stability Facility] channels,”... [more]
German Chancellor Angela Merkel met China’s president on Friday as she seeks to lift Beijing’s confidence in Europe where the sovereign debt crisis threatens to tip the region into recession. China, the world’s second-biggest economy, has watched with increasing concern as eurozone economies have deteriorated, and has repeatedly urged European leaders to get a grip on the situation. Merkel’s meeting with President... [more]
German Chancellor Angela Merkel arrived in China on Thursday for a three-day visit that will focus on the eurozone crisis, Iran, and Syria. Her trip comes just days after China was hit by deadly unrest in Tibetan-inhabited areas, and the leader of Europe’s biggest economy will also broach the issue of human rights with her Chinese counterparts. Germany and China, the world’s top two exporters, enjoy vibrant trade relations and... [more]
Chancellor Angela Merkel and other EU leaders attempted to solve Europe’s debt crisis on Monday evening with a German-driven treaty meant to end deficits. But the announcement that that 25 of 27 European Union nations had adopted the new pact on budgetary discipline was overshadowed by outrage over a German suggestion heavily indebted Greece submit its finances to EU review. The idea of placing the cradle of European democracy under the... [more]
Chancellor Angela Merkel sought Monday to placate critics of a German proposal to put Greece under the supervision of an EU budget tsar, saying Europe must help Athens enact economic reforms. The debate must be on “how Europe can help Greece accomplish the tasks given to it,” Merkel said on arrival at an EU summit after Greek officials and some European leaders rejected the proposal. “But all of this will only work if Greece... [more]
German Economy Minister Philipp Rösler backed beefed-up EU monitoring of Greece on Monday, after Athens dismissed calls for it to give up control over its budget. Rösler, who is also Germany’s vice chancellor, told the daily Bild that the European Union should step in to ensure that Greece toes the line of budget austerity as it struggles to emerge from a crippling debt crisis. “We need more leadership and monitoring in implementing... [more]
The street slang spoken by young people in Germany’s big cities is so defined that one language expert is arguing for it to be recognised as a dialect. Linguistics professor Heike Wiese says “Kiezdeutsch” which roughly translates as “neighbourhood German”, is a mutated, fluid form of high German spoken by urban young people across the country. Incorporating many foreign words, the slang also simplifies German grammar, but is... [more]
The proposed merger of Deutsche Boerse and NYSE Euronext — which now looks almost certain to fail — is not vital for the German company’s survival, say analysts and industry experts. According to NYSE Euronext chief executive Duncan Niederauer, there is only a “glimmer of hope” that the tie-up, which would create the world’s largest market operator, will be approved by European competition authorities. EU... [more]
