Japan PM says must tackle debt to avoid rate cut

 Japan’s prime minister, attempting to build support for painful fiscal reforms, said Saturday that the country should be alarmed by ratings cuts in Europe and must tackle its massive public debts to avoid becoming the next target. Japan’s debt is more than twice its gross domestic product, higher than any of the struggling European economies whose fiscal problems have set off a eurozone crisis that has reverberated in markets... [more]

US ‘concerned’ over possible Israel strike on Iran

The US government is concerned that Israel is preparing to take military action against Iran over US objections, and has stepped up contingency planning to safeguard US facilities in the region, The Wall Street Journal reported. The newspaper said President Barack Obama, Defense Secretary Leon Panetta and other top officials have delivered a series of private messages to Israeli leaders, warning about the dire consequences of a strike. Obama... [more]

Banks say no deal on Greek debt

THE group of major banks negotiating on a write-down of Greek sovereign debt say they have not reached a deal on its debt, including any new write-down. “There has been no agreement on any Greek deal or a specific ‘haircut’,” said Charles Dallara, the head of the Institute of International Finance which is representing the banks in EU negotiations. “We remain open to a dialogue in search of a voluntary agreement.... [more]

S&P downgrades nine euro zone countries

Standard & Poor’s downgraded the credit ratings of nine euro- zone countries, stripping France andAustria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday the 13th for the troubled single currency area. “Today’s rating actions are primarily driven by our assessment that the policy initiatives that have been taken by European policymakers in recent weeks may be insufficient to fully... [more]

Dutch PM defends queen’s ‘nonsense’ headscarf remark

Queen Beatrix is right to say Geert Wilders is talking nonsense by describing Muslim headscarves as a symbol of female oppression, prime minister Mark Rutte said on Friday after the weekly cabinet meeting. ‘There are an awful lot of women who wear headscarves and they are not all oppressed,’ Rutte said. On Thursday, the queen, who was on a state visit to Oman, told reporters Wilders was talking nonsense for criticising her decision... [more]

PVV councillor thrown out of party for ‘Turkish pig’ email

The anti-Islam PVV in Limburg has sacked one of its provincial councillors for describing a Labour party colleague as ‘a piece of sicked-up halal meat made from a Turkish pig’. The comment was made a year ago by PVV number two Cor Bosman in an email to 20 supporters after Labour councillor Selçuk Öztürk gave an interview to a local magazine. The decision to sack Bosman was taken at an emergency meeting on Friday morning after news... [more]

Carla tells Sarkozy “I’ll be there”

First Lady Carla Bruni-Sarkozy says she is ready to hit the campaign trail for her husband President Nicolas Sarkozy.   “If my husband is candidate for the presidential elections, I will take part as much as possible,” Bruni-Sarkozy told Le Parisien. Sarkozy has not yet officially confirmed that he will run in this year’s presidential elections, but in reality there is little doubt in France that he will. Bruni-Sarkozy... [more]

France loses AAA-rating

SStandard & Poor’s has decided to downgrade France’s top-notch credit rating but will spare Germany, Belgium, Luxembourg and the Netherlands, an EU government source told AFP on Friday. “France loses its triple-A rating,” the source said on condition of anonymity.   Standard and Poor’s Corp earlier on Friday declined to comment on rumours on the markets that it was about to downgrade several eurozone... [more]

Van der Sloot sentenced to 28 years prison

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]

Iran embargo gathers support in Asia, Europe

U.S. allies in Asia and Europe voiced support for Washington’s drive to cut Iran’s oil exports, although fear of self-inflicted pain is curbing enthusiasm for an embargo thatTehran says will not halt its nuclear program. The speaker of Iran’s parliament, Ali Larijani, said on Thursday that the nuclear program was also too strong to be derailed by assassinations of nuclear scientists, a day after the fourth such killing. As... [more]

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