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 ...
A 25-year-old blonde Moldovan dancer who was on board the Costa Concordia told prosecutors that she was “in love” and “a guest” of the doomed cruise ship’s captain, Italian newspapers reported on Thursday. “Yes, it’s true. I am in love with captain (Francesco) Schettino,” Domnica Cemortan, who has joint Moldovan and Romanian citizenship, was quoted by La Stampa daily as saying to investigators... [more]
France and Italy on Monday signed an agreement to build a high-speed rail link between Lyon and Turin, the largest such project in Europe, despite opposition on the Italian side of the border. The line, which is due to be completed by 2023, would allow high-speed trains to link Paris and Turin in just over four hours, compared to seven at present. The Lyon to Turin connection would be cut back from just over four to just under two. Work... [more]
Francesco Schettino, the captain of sunken Costa Concordia cruise ship was at a restaurant enjoying a company of two women, when the vessel hit the rocks, one of the ship’s passengers told Italy’s RaiTre television channel. The Costa Concordia, carrying 4,200 passengers, capsized after hitting rocks off the coast of Isola del Giglio last Friday night. Eleven bodies have been recovered, and a search for 24 missing people is underway. Marco... [more]
Divers searching the capsized Italian cruise liner Costa Concordia suspended work on Wednesday after the vast wreck shifted slightly but officials said they are hoping to resume as soon as possible. Five days after the 114,500 tonne cruise ship struck a rock and capsized off the Tuscan island of Giglio, hopes of finding anyone alive have all but disappeared and salvage experts are preparing to pump 2,300 tonnes of fuel from the hulk. The... [more]
Rescuers searching for those still missing from the cruise liner that capsized after crashing into rocks in Italy have begun using explosives to blast holes in the vessel. It comes as Italian emergency services deny reports in La Stampa newspaper that a seventh body has been found on the Costa Concordia. The increased death toll was reported in the Italian media after “black box” recordings showed the ship’s captain ignored... [more]
Emergency workers searched Tuesday for 29 people missing from an Italian cruise disaster that killed six as the ship’s captain faced an interrogation on accusations that he veered wildly off course The head of the Italian coastguard, Marco Brusco, said there was “a glimmer of hope” for finding more survivors since the giant half-submerged vessel had not yet been fully inspected, but rescuers said the chances were now slim. Brusco... [more]
Police divers and rescue crews are circled around the wreckage of the cruise ship that ran aground off the Tuscan coast in an apparent search for the few dozen people who remain unaccounted for. Late Saturday a South Korean couple on their honeymoon were rescued when firefighters in the unsubmerged part of the Costa Concordia heard their screams. Crews in dinghies were seen Sunday morning touching the hull with their hands. They... [more]
Italian prime minister Mario Monti travels to the UK on Wednesday for his first official visit since taking office, amid concerns that organised crime has tightened its grip on his country’s economy. He has been trying to convince European leaders he has control of the debt crisis that has seen Italy’s cost of borrowing soar. But there are fears that tax evasion and the increasing role of the mafia is robbing the Italian treasury... [more]
Standard & Poor’s two-notch downgrade ofItaly’s debt rating poses problems given large refinancing needs this year in that country and its banks, European Central Bankpolicymaker Ewald Nowotny said. S&P on Friday cut the ratings of Italy, Spain, Portugal and Cyprus by two notches and the standings of France, Austria, Malta, Slovakia and Slovenia by one notch each. That put highly indebted Italy on the same BBB+... [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]
