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Google News Alert for: Europe News


04 Sep  2010

Trichet Sees Recovery in Europe, US, Double Dip Unlikely, Le Figaro Says
Bloomberg
By Andrew Roberts - Sat Sep 04 08:56:24 GMT 2010 European Central Bank President Jean-Claude Trichet said there's a good chance that the economy will ...
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France's woes continue with start of 2012 Euro qualifying
Los Angeles Times
Barely seven weeks after the end of the World Cup, Europe's major soccer powers returned to serious competition on Friday as qualifying for 2012 European ...
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Los Angeles Times
Robinho believes AC Milan and Barcelona are strongest in Europe - UEFA ...
ESPN
By Soccernet staff Robinho believes AC Milan and Barcelona are now the two strongest sides in Europe after the Rossoneri's summer spending. ...
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GM hatches Chevrolet Cruze hatchback for Europe
USA Today
The new five-door Cruze is due to be shown at the Paris auto show and goes on sale in Europe next year. Other global markets may get it but Chevy is very ...
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USA Today
MADRID (MarketWatch) -- European stocks advanced Friday, rallying in the wake ...
MarketWatch
The Stoxx Europe 600 index (STOXX:ST:SXXP) , which was up just 0.4% before the data, finished up 0.9% to 260.40. The index clocked gains of 3.7% this week ...
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Europe shares hit 3-week closing high on US data
Reuters
By Atul Prakash LONDON, Sept 3 (Reuters) - European shares hit a three-week closing high on Friday and posted their biggest weekly gain in about eight weeks ...
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Europe Indexes Rise on Retail Sales, Services
123Jump.com
4:00 PM Frankfurt – The European indexes advanced after euro area retail sales climbed in July and service sector growth rose to a three-month high in ...
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Nouriel Roubini: We're Headed For A 'Growth Recession,' 400 Banks May Fail (VIDEO)
Huffington Post (blog)
Speaking with CNBC Europe from Lake Como, Italy, Nouriel Roubini, the widely followed chairman of Roubini Global Economics, predicted that the US economy ...
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EU trade chief apologizes for Jewish comments
The Associated Press
Jewish groups warned that De Gucht's comments were part of a growing wave of anti-Semitism in Europe. Germany's central bank said Thursday it will ask a ...
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John Arne Riise: I want to play in MLS - Europe
ESPN
But the 29-year-old has revealed that it will be his last contract in Europe, as he has his sights set on MLS. "We will talk about my contract with Roma ...
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04 Sep 2010


Deaths as Russian wildfires return

Fresh wave of blazes engulfs southern towns, killing at least eight people and destroying hundreds of homes.
Last Modified: 03 Sep 2010 21:22 GMT

A fresh wave of wildfires that engulfed more than a dozen villages and towns in southern Russia has killed at least eight people and destroyed hundreds of homes, officials say.

Hundreds of blazes driven by high winds and scorching temperatures have burnt down nearly 500 buildings in about 20 villages in the Volgograd and Saratov provinces, an emergencies ministry spokewoman said.

On Friday officials said eight people had been killed and 18 injured in the past day, with new fires flaring up in more than 25 populated areas.  

"The latest information available to us confirms the death of eight people," a Russian Emergency Situations Ministry spokesman told the Interfax news agency.

in depth
  In pictures: Wildfires rage in Russia
  Medvedev sacks officials over fires
  Blog: Sweltering Russians dying for a dip
  Video: Russia's devastating wildfires

"About 1,000 people are without shelter. Eighteen people have been injured," the emergency ministry said in a statement.

Dmitry Medvedev, the Russian president, has ordered authorities to mobilise all means to fight the new blazes, as the emergencies ministry warned there was a risk of the fires spreading to other southern regions.

The latest fires have claimed the life of an elderly man in his seventies and a woman also in her seventies in two villages, a local official told the Interfax news agency.

About 150 people had to be evacuated after losing their homes, according to the emergencies ministry, which has dispatched three aircraft to fight the fires.

A ministry spokeswoman said that 10 centres had been set up to shelter people.

The latest blazes come after destructive wildfires in July and August killed at least 54 people in central Russia amid the country's worst heat wave ever recorded.

Although heavy rains have helped quench the fires in much of the country, the southern regions of Volgograd, Saratov and Samara remain hot and dry.

A ministry statement said the new fires were fanned by high winds and some started when the winds caused power lines to cross, shooting off sparks.


Source:
Agencies


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Google News Alert for: Europe News


03 Sep  2010

European Central Bank Optimistic About Economy
New York Times (blog)
The European Central Bank offered a slightly more optimistic view of the euro area's economy Thursday, but also extended its lifeline to troubled banks in ...
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New York Times (blog)
Tech Stocks Lead Gains in Europe
Wall Street Journal
By MICHELE MAAOUK European markets traded higher Friday, led by technology stocks, but investors remained cautious ahead of the US nonfarm payrolls release. ...
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Stocks Rise in Europe, Asia; US Futures Little Changed, Won Strengthens
Bloomberg
(Source: Bloomberg) Asian and European stocks rose as a surprisingly positive increase in pending US home sales lifted confidence in the world's largest ...
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GLOBAL MARKETS-Europe stocks gain;yen near 15-yr high vs dlr
Reuters
By Emelia Sithole-Matarise LONDON, Sept 3 (Reuters) - European stocks edged higher on Friday after US shares climbed, but the dollar struggled as markets ...
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Europe Factors-Shares set to inch up ahead of payrolls
Reuters
PARIS, Sept 3 (Reuters) - European stocks were set to inch higher on Friday, tracking advances in US and Asian shares and adding to the week's tentative ...
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Pernod sees US and Europe recovery as Champagne sales pick up
Telegraph.co.uk
Pernod Ricard expects sales in Europe and the US to improve this year, as it spends more on marketing and the world economy continues to recover. ...
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Telegraph.co.uk
European August Services, Manufacturing Growth Eases
BusinessWeek
3 (Bloomberg) -- Growth in Europe's services and manufacturing industries weakened and retail sales rose less than economists forecast, adding to signs the ...
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Company Bond Sales Jump to Month High in Europe as Low Costs Lure Issuers
Bloomberg
By Bryan Keogh - Fri Sep 03 09:59:24 GMT 2010 Telefonica SA and Continental AG led 14.9 billion euros ($19 billion) of European bond sales, ...
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Esprit Net Falls 11%, Hurt by Europe Woes
Wall Street Journal
Europe's contribution to the company's revenue declined to 83% from 85% following a 4.6% drop in sales in Hong Kong dollar terms as regional wholesale ...
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Gilead Sciences Submits European Marketing Application for Once-Daily Single ...
MarketWatch (press release)
"The important role of complete, fixed-dose HIV treatment regimens is well established in Europe," said John C. Martin, PhD, Chairman and Chief Executive ...
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Google News Alert for: Europe News


02 Sep  2010

Rate Decisions Highlight Diverging Growth Rates in Europe
New York Times
By JACK EWING FRANKFURT — The European Central Bank left its benchmark interest rate unchanged Thursday, as expected, but a rate increase by the Swedish ...
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No change in rates expected at European Central Bank council meeting later
MarketWatch
By Barbara Kollmeyer, MarketWatch MADRID (MarketWatch) -- European stocks posted modest losses on Thursday, as investors locked in some of the previous ...
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Pernod Profit Misses Estimates on Western Europe
Bloomberg
Pernod, which also owns the Mumm champagne and Martell cognac brands, said it saw “persisting difficulties” in western Europe. A 10 percent drop in the ...
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Europe Blacklists Two Ghanaian Airlines
Wall Street Journal
By ALESSANDRO TORELLO BRUSSELS—The European Commission said Thursday it has banned one airline from Ghana from flying to Europe and imposed restrictions on ...
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Europe: Stock Rally Peters Out, Waits For U.S.
Wall Street Journal (blog)
By Neil Shah The stock rally that started in Australia and wound its way through Europe and the US Wednesday is already looking a little tired, ...
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Driven by Germany, Europe posts 1% growth
Sydney Morning Herald
Europe's economy outpaced the United States and Japan in the second quarter, EU data showed Thursday, but analysts warned that the German-powered growth ...
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Gaddafi and the Roman circus
BBC News (blog)
"Islam," he went on, "should be the religion of the whole of Europe". Three of them were apparently persuaded and converted. Suddenly Italians began taking ...
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BBC News (blog)
Corporate Bond Risk Declines to Two-Week Low in Europe on Economic Outlook
Bloomberg
By Abigail Moses - Thu Sep 02 10:21:32 GMT 2010 The cost of insuring against losses on European corporate bonds fell to the lowest level in two weeks as ...
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Asia stocks gain on brighter US data, Europe falls
The Associated Press
European shares opened lower. The second day of gains in Asia follows a month of heavy selling amid jitters about the global recovery as figures from major ...
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Treasuries Fall Before Auction as Europe's Growth Exceeds Earlier Estimate
Bloomberg
“The market is very stretched, and yields are at extremely low levels, making it vulnerable to pullbacks,” said Luca Jellinek, head of European ...
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Google News Alert for: Europe News


01 Sep  2010

European Factors-Shares seen opening higher; focus on data
Reuters
LONDON, Sept 1 (Reuters) - European shares are expected to open higher on Wednesday, mirroring gains in Asia, with a manufacturing rebound in China and ...
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UEFA bans vuvuzelas from European matches
AFP
GENEVA — Vuvuzelas have been banned from UEFA matches, European football's governing body said on Wednesday, as it sided with chanting and singing in ...
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AFP
On the bag: Ryder Cup process this time irks European side
USA Today
Even though the Englishman was celebrating being one of European captain Colin Montgomerie's three wild-card picks for the upcoming Ryder Cup, the omission ...
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US fears mean risk for European Central Bank
The Associated Press
LONDON — Indicators are pointing up at the European Central Bank, which may be about to raise its 2010 economic projections. But that brightening picture ...
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Gaddafi in 'black Europe' warning
BBC News
Speaking on a visit to Italy, Col Gaddafi said Europe "could turn into Africa" as "there are millions of Africans who want to come in". ...
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Europe Manufacturing Growth Slows as Germany, Italy Ease
Bloomberg
Photographer: Jock Fistick/Bloomberg Growth in Europe's manufacturing industry slowed in August and export demand fell to the lowest in seven months, ...
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SEC Says Dodd-Frank Law Lets Agency Chase Overseas Ratings Fraud
Bloomberg
The SEC's investigation found that a Moody's ratings committee based in Europe refused to lower inflated grades on almost $1 billion of debt in 2007, ...
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Europe's Debt Crisis Is Over. Probably. Or Maybe Not.
Wall Street Journal (blog)
By Neil Shah Is the worst of Europe's debt crisis over? Or is there more pain coming? Markets aren't giving a straight answer. ...
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Futures Jump on Strong Gains in Europe
FOXBusiness
By Ken Sweet Strong gains in Europe helped push US stock futures sharply higher Wednesday morning as Wall Street waits for a closely-watched jobs report and ...
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Blair 'cried for Iraq war victims'

Former UK prime minister's memoirs reveal that he did not foresee the "nightmare" that followed 2003 invasion.
Last Modified: 01 Sep 2010 11:00
Tony Blair said he regretted the loss of those who died in the Iraq war [Gallo/Getty Images]

Tony Blair, Britain's former prime minister, said he did not foresee the "nightmare" that unfolded in Iraq and wept for the war's victims, in memoirs released on Wednesday.

The war-time leader repeated his conviction that the 2003 invasion was justified, but said he regretted "with every fibre of my being the loss of those who died".

"I feel words of condolence and sympathy to be entirely inadequate," Blair wrote in his book, entitled A Journey.

"They have died and I, the decision-maker in the circumstances that led to their deaths, still live."

Citing his work as a Middle East peace envoy and promoting inter-faith dialogue, he said: "I can't say sorry in words; I can only hope to redeem something from the tragedy of death, in the actions of a life, my life, that continues still."

Blair's decision to go to war in Iraq was the most controversial his 10-year leadership, provoking huge protests, divisions within his Labour Party and accusations he deceived Britons over his reasons for war when weapons of mass destruction were not found.

'Divisive legacy'

The memoirs drew publicity after Blair said he would donating the reported $7.09m advance as well as proceeds from sales to a charity supporting serving and former members of the military.

"If this memoir has been an attempt by Blair to write his own history ... I don't think it's going to alter anybody's opinions of him"

Laurence Lee
Al Jazeera

But Laurence Lee, Al Jazeera's correspondent in London, said despite the move, the memoirs are unlikely to change public opinion of Blair.

"Even that gesture [of the donation] has led to a lot of people saying 'he's only doing it because he feels guilty'.

"If this memoir has been an attempt by Blair to write his own history, if you like, I don't think it's going to alter anybody's opinions of him."

He added that Blair's legacy was "amazingly divisive".

"The right-wing in countries like this not least because he's made so much money in the corporate world since retiring from politics. And they continue to insist that he lied about the legality of the Iraq war.

"The left-wing .. hates him too. Partly because of Iraq and partly because they believe he's actually a wolve in sheep's clothing."


Attack on Brown

Blair was Labour's most successful leader for decades, but when he left, after years of increasingly open hostility with Gordon Brown, his finance minister, his party was divided.

In his memoirs Blair described Brown, who went onto become prime minister, as "maddening" and "difficult", blaming him for the Labour Party's failure at the last general election.

He said Brown's three years in office were a "disaster" and his succession was "unwise because it was never going to work".

Brown lacked political instinct "at the human gut level", Blair wrote.

"Political calculation, yes. Political feelings, no. Analytical intelligence, absolutely. Emotional intelligence, zero."

"It is easy to say now, in the light of his tenure as prime minister, that I should have stopped it; at the time that would have been well nigh impossible."

But he concluded that Brown was "strong, capable and brilliant and the best chancellor for the country."

His comments come on the day Labour begins voting for their next leader.

He was in Washington on publication day, attending Israeli-Palestinian peace talks and will meet Barack Obama, the US president, later in the day.


Source:
Agencies


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Google News Alert for: Europe News


31 Aug  2010

Europe Inflation Slows to 1.6%, Unemployment Holds at 12-Year High of 10%
Bloomberg
By Simone Meier - Tue Aug 31 09:40:26 GMT 2010 European inflation slowed this month and unemployment held at the highest in almost 12 years in July as ...
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Sarkozy's crackdown on Roma illegals sparks Europe-wide resonance
RIA Novosti
Europe's Roma population has been at the center of EU and broader international, debates concerning immigration, racial, religious and other issues since ...
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Gaddafi seeks EU funds to curb illegal migrants
Financial Times
“Libya turns to the European Union to support what Libya asks because Europe, in the future, might not be Europe any more but might turn black because of ...
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European Stocks Slide Before US Data; Raiffeisen, AstraZeneca Decline
Bloomberg
31 (Bloomberg) -- David Buik, a market analyst at BGC Partners, discusses the outlook for equities and European Central Bank and Bank of England stimulus ...
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Carrefour Swings To Profit, Confirms Targets
Wall Street Journal
FR) Tuesday said it swung to a first half net profit as growth in emerging markets helped to offset continued weakness in Europe where its outlook remained ...
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Corporate Default Swaps Head for Biggest Monthly Rise Since May in Europe
Bloomberg
By Abigail Moses - Tue Aug 31 11:05:37 GMT 2010 The cost of insuring against losses on European corporate bonds rose, heading for the biggest monthly ...
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AP Interview: Walesa says reforms going too slowly
The Associated Press
... after his trade union movement paved the way for massive democratic reforms across Eastern Europe, more changes are still needed in his home country. ...
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German Unemployment Drops for 14th Month as Rising Exports Bolster Economy
Bloomberg
By Patrick Donahue and Christian Vits - Tue Aug 31 09:04:27 GMT 2010 The German economy is leading Europe's recovery as exports and investment surge, ...
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Stocks On Edge After Europe, Asia Declines
Wall Street Journal (blog)
By John Shipman After a rough session for stocks in Asia overnight, European markets are following Asia lower in the wake of a sharp US sell-off late Monday ...
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Deadly shooting in Slovak capital

Gunman turns weapon on himself after killing seven people in Bratislava.
Last Modified: 31 Aug 2010 11:07
 

The motive of the shooting in Bratislava was unclear [AFP]

An armed man has killed seven people and wounded at least 14 others in Bratislava, the capital of Slovakia.

The assailant was believed to be a 50-year-old man, although his identity is unconfirmed. Police said he killed himself after the shooting.

"He was alone. He fired at everything that moved during his escape bid, the policemen surrounded him ... they made it impossible for him to escape," Jaroslav Spisiak, the police president, said.

Six of the dead were believed to be members of the same Roma family.

The motive of the shooting was unclear.

Child injured

Dominika Sulkova, from the country's rescue service, said the shooting occured at around 10am (08:00 GMT) in the morning.

She said that a three-year-old child was among the injured, although his or her life was not under threat.

Emergency crews were on the scene and authorities were urging people to stay indoors.

Darius Haraksin, a reporter for TV JOJ in Bratislava, told Al Jazeera: "The first part of the incident was that the gunman went to his neighbour's [flat] and killed five or six people in one flat.

"Later on he went outside the building and started shooting on everything he saw. The incident took 50 to 55 mins ... there was big chaos."

Area sealed off

Marta Vozbranukova, a teacher working at a kindergarten close to the scene, told the AFP news agency: "I saw an older man carrying an automatic gun walking towards a prefab house.

"After a while, an injured man of a Roma origin, whose family lives in the house, ran out and fell on the ground where the gunman shot him two or three more times.

"The gunman then started shooting on the street."

Vozbranukova said that the there were no children in the kindergarten at the time.

The Devinska Nova Ves district of Bratislava, where the shooting took place, was sealed off by police roadblocks, TV-channel TA3 reported.

Slovakia experienced some shooting incidents involving criminal gangs in the 1990s, but has had no large-scale shootings in recent years.


Source:
Al Jazeera and agencies


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Google News Alert for: Europe News


30 Aug  2010

Monty insists his European team can regain Ryder Cup
AFP
GLENEAGLES, Scotland — European captain Colin Montgomerie insists his selection for the Ryder Cup clash with the United States in October is strong enough ...
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AFP
Europe's ominous moves against the Roma
Baltimore Sun
By George Soros —The Roma have been persecuted across Europe for centuries. Now Roma (often called Gypsies, a term they dislike) face a form of ...
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European Factors--Shares set to extend rebound
Reuters
PARIS, Aug 30 (Reuters) - European stock index futures pointed to a higher open on Monday, adding to a two-day rally and mirroring strong gains in US and ...
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European Indexes Slip After Asian Shares End Higher
New York Times
By AP European indexes were lower on Monday as markets cautiously began a week that culminates Friday with Washington's report on the August job market. ...
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Divisive German banker launches immigration book
The Associated Press
... after he said that "all Jews share the same gene" and that Muslim immigrants in Europe are unwilling or incapable of integrating into western societies. ...
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European, US Index Futures Rise; Infineon, Sanofi May Move
BusinessWeek
30 (Bloomberg) -- European stock-index futures advanced, indicating the Stoxx Europe 600 Index may rebound from three straight weeks of losses. ...
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With Eastern European Flavor, WTA Seeks Recipe for Success
New York Times
Combined, all of Eastern Europe had six players in the top 50 in 1980. There were still only six in 1990. In 2000, about a decade after the fall of the ...
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Harvard's Rogoff Expects a Few East Europe States to Go Bust, Profil Says
Bloomberg
By Zoe Schneeweiss - Mon Aug 30 05:50:10 GMT 2010 Harvard University professor Kenneth Rogoff is expecting a few eastern European countries to go bust in ...
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Brighter prospects for Europe as economic sentiment continues rise
Earthtimes
By : dpa Brussels - Prospects for the European recovery appeared to brighten further on Monday as a key survey showed that economic sentiment in the ...
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Ryder Cup 2010: Profiles of European team
BBC Sport
Colin Montgomerie's Europe take on the United States in the biennial Ryder Cup at Celtic Manor, south Wales, from 1-3 October. Monty's men are hoping to ...
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At least 19 dead in shootout in Chechnya


Sunday, 29 Aug, 2010
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At least 12 suspected insurgents and two security officers were killed when the militants entered Tsentoroi, Ramzan Kadyrov's home village, early Sunday, his spokesman Alvi Karimov said. — Photo by Reuters

ROSTOV-ON-DON, Russia: A shootout between the Chechen president's personal protection detail and suspected separatist insurgents has left 19 people dead, including five civilians, officials and media reports said.

At least 12 suspected insurgents and two security officers were killed when the militants entered Tsentoroi, Ramzan Kadyrov's home village, early Sunday, his spokesman Alvi Karimov told The Associated Press. TV reports said five civilians were killed in the crossfire.

Kadyrov, who is thought to regularly supervise security operations in the field, was in the village at the time and directed the counter-offensive, Karimov said.

''We let them into the village so they couldn't escape,'' Kadyrov told Channel One television, which showed him examining the bodies of the suspected militants strewn across a road. ''We forced them into a place where they could be eliminated,'' he said.

Police in 2009 averted a possible assassination attempt on Kadyrov, shooting dead the driver of a car suspected of containing explosives before he could reach a construction site where Kadyrov was due to make an appearance.

In a separate incident Sunday, security forces in nearby Dagestan province shot dead four suspected militants travelling in two cars when they refused to stop at a police checkpoint, according to police spokesman Magomed Tagirov. He said weapons were later found in the cars.

Russia's volatile North Caucasus suffers daily attacks by insurgents seeking independence from Moscow, but this weekend's bloodshed has been especially fierce.

On Saturday, nine suspected militants were killed in two separate shootouts with police in the Kabardino-Balkariya republic, while five suspected militants and two police officers were killed in another shootout in Dagestan.

Kadyrov previously fought on the side of the militants but switched sides and was installed by the Kremlin as Chechen leader in 2007. Comparative peace has arrived in Chechnya and its capital, Grozny, since then, but rights activists say the price has been brutal.

They allege Kadyrov has directed widespread human rights violations, including abductions and summary executions of suspected militants and sympathisers.


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Google News Alert for: Europe News


29 Aug  2010

Michel Platini's plan for European fair play is sadly flawed
The Guardian (blog)
But surely this notion that European clubs can exist on an equal footing is an impossible dream. The Uefa president is attempting to introduce, ...
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Pod fears for Cup place
SkySports
Padraig Harrington has admitted that he does not deserve a place in Europe's Ryder Cup team and might not have done enough to secure a wildcard. ...
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European guidelines back use of Sanofi's Multaq
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The recommendation from the European Society of Cardiology (ESC) is a fillip for a drug that has got off to a slow start commercially. ...
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Europe's Biggest Street Party Kicks Off
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Europe's biggest street carnival kicks off today with hundreds of thousands of revellers expected on the streets of London's Notting Hill. ...
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The Roma: Europe's Favorite Scapegoat
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Europe is certainly in need of distraction these days. Sarkozy's poll numbers are dismal and his administration is plagued by scandals. ...
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Molinaris lead the way
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He and Francesco were World Cup winners last November and he now stands 22nd in the world a year after being on Europe's 'second division' Challenge Tour. ...
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SkySports
Samuels, Russell hits Europe for five-game tour
Kansas City Star
Ask Russell to describe his recent five-game tour of Europe with teammate Jamar Samuels as part of the East Coast All-Stars, and he tells a much different ...
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The Mackerel Wars: Europe's Fish Tiff With Iceland
TIME
27, 2010 The water separating Iceland from the rest of Europe has been choppy these past few years. After Iceland's banks collapsed in 2008, ...
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But the decline in travel may be a blessing.
Newsweek
In the first quarter of 2010, according to the International Trade Administration, US air departures to Europe were down 6.7 percent from the first quarter ...
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Newsweek
Islamophobia Imported From Europe: An Ugly Trend Gets Uglier
Politics Daily (blog)
For many years, anti-Muslim sentiment in Europe, embodied by protests against mosque minarets and headscarves, was a wave that did not reach our shores. ...
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Clashes at UK far-right demo



UPDATED ON:
Saturday, August 28, 2010
22:59 Mecca time, 19:59 GMT


Far-right supporters threw stones, bottles and a smoke bomb at the demos [REUTERS]

Clashes have erupted in the northern British city of Bradford, during the staging of a rally by the far-right English Defence League and a counter-rally by the anti-Fascist Unite Against Fascism.

Supporters of the English Defence League (EDL) threw bottles, stones and cans at Unite Against Fascism protesters in the multi-ethnic city of Yorkshire on Saturday.

Fears of scenes of race riots seen in the city nine years ago had been raised by the proposed rallies. 

The government had banned all marches in the city on Saturday for fear of tensions spilling over. The 2001 riots began after a far-right march was held.

The two groups therefore held static protests in different areas of the city.

Pressure and tension

EDL supporters demonstrated at the Urban Gardens area of the city centre, while between 250 and 300 Unite Against Fascism supporters rallied at the Crown Court plaza.

Another 150 people attended an event called Be Bradford – Peaceful Together, at a separate part of the city, Infirmary Fields.

But EDL supporters threw bottles and stones and a smoke bomb over a barrier temporarily erected to separate the two groups.

They were later moved from the area by security forces.

Al Jazeera's Paul Brennan, in Bradford, said: "There is a huge amount of pressure and tension in this city today.

"Not least because of the echoes of the 2001 race riots. They have left a lasting scar on this city and there was a real expectation that today might be a repeat of those riots."

'Opposing the Taliban'

Analysts have drawn connections between the EDL, which was formed about 18 months ago, and the British National Party.

The EDL deny this and accusations that the group is racist or fascist. Rather it has said that it is simply against the Taliban and extreme forms of Islam.

"Frankly, you can take that with a pinch of salt," Brennan said.

"Because the evidence is in what they do rather than what they say. And what they do is certainly very indicative of a far-right organisation which has much wider political aims than simply extreme Islam," he said.

Bradford is about 78 per cent white and 12 per cent ethnic minorities, predominately Pakistani. However, in some areas of the city the Pakistani population make up more than 60 per cent of inhabitants.

About 190 people were given sentences after the 2001 riots.

 Source: Agencies

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Google News Alert for: Europe News


28 Aug  2010

European Stocks Decline for Third Week on Concern About Economy
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UN panel attacks French Roma action



UPDATED ON:
Friday, August 27, 2010
23:01 Mecca time, 20:01 GMT



A United Nations anti-racism panel has criticised France for its crackdown of Roma and urged the government to "avoid" collective deportations of traveller groups.

A UN panel described the Roma as victims of "violence with a racist characteristic", and said the government should try to integrate the ethnic minority, rather than repatriate them to eastern Europe.

The 18 independent experts raised concern on Friday that some of the hundreds of Roma deported to Romania over the last weeks had not been fully informed of their rights or freely consented.

"Our concern is that the removal or return of the Roma has been done on a collective basis rather than examining their individual circumstances," Pierre-Richard Prosper, a member of the panel, said.

"So it gives the appearance that a group has been identified rather than individuals," he added.

Crackdown

France launched a country-wide crackdown on Roma earlier this month, a move that has been widely criticised by politicians and human rights groups.

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The European Union is now reviewing if the move is legal and the Vatican has also spoken out against it.

Members of the UN panel also said they were concerned about "political speeches of a discriminatory nature in France".

These statements were made alongside "a recent increase in the act and manifestation of a racist and xenophobic characteristic," they said.

The French government said it sent back 283 Roma on Thursday, bringing the total number of Romanian and Bulgarian Roma deported so far this year to 8,313, against 7,875 expelled throughout last year.

The panel issued the recommendations two weeks after a two-day examination on whether France had applied the 1965 international convention on the elimination of all forms of racial discrimination.

During the hearing, the French delegation announced that a national plan to combat racism was being drawn up, without giving details.

 Source: Agencies

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27 Aug  2010

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Sarkozy Warns of Iran “Threat”, Rejects Cycle of Violence in Lebanon



26/08/2010 French President Nicolas Sarkozy said on Wednesday that failure to reach a credible agreement over Iran’s nuclear program would force world powers to mobilize to protect threatened states in the region.
 
In an annual address to France's ambassadors, Sarkozy laid out his foreign policy objectives as the country prepares to take over the chair next year of the Group of 20 powers and the narrower club of rich countries known as the G8.
 
"If a credible agreement cannot be reached, Iran's isolation would only worsen," Sarkozy said. "And in the face of worsening threat, we would have to organize ourselves to protect and defend states that feel threatened."
 
"Everybody knows that there are serious consequences to a policy that would allow Iran to follow its nuclear path," Sarkozy said. "It would see a general proliferation in the region or even military conflict."
 
"I hope that we can find a good agreement in the coming months ... that Iran respects the law and that the concerns of the international community are lifted," Sarkozy said.
 
Meanwhile, the French President reiterated support for Lebanon's independence and sovereignty and said it was "unacceptable for Lebanon to drown again in the cycle of violence."
Sarkozy also reiterated support for President Michel Sleiman and Premier Saad Hariri. "All of Lebanon's neighbors should back and respect its sovereignty," the French president said. "Paris is working for stability in a diverse Lebanon where all sects should coexist," he told the audience of French diplomats.

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France deports hundreds of Roma




UPDATED ON:
Thursday, August 26, 2010
14:55 Mecca time, 11:55 GMT


Nearly 300 Roma were reportedly being deported on Thursday from France to Romania [AFP]

France is deporting hundreds more Roma from the country as part of its bid to crack down on traveller encampments, despite continued criticism of the move.

Police escorted two busloads of Roma men, women and children to Charles de Gaulle airport in Paris, the capital, on Thursday morning, the AFP news agency reported.

The government said 283 Roma were being deported on Thursday to Romania from Paris and Lyon airports.

Earlier in the day officers raided a camp near the northern city of Lille, taking residents in police vans.

The crackdown is part of a plan announced in July by Nicolas Sarkozy, the French president, who has described Roma camps as sources of trafficking, child exploitation and prostitution.

But many politicians and human rights groups have accused France of stigmatising an already vulnerable group of people.

Question over legality

The move also appears to have backfired against Sarkozy, drawing criticism from the political right, the Catholic Church and a United Nations anti-racism panel, while also failing to boost his popularity in public opinion polls.

Some 600 Roma have been repatriated to Romania and Bulgaria since the crackdown was announced in July, while more than 8,000 have been deported since the beginning of the year.

France has also called on the European Commission to force Romania to stem the flow of Roma leaving the country, suggesting it could block Bucharest's entry to the Schengen border-free zone if it fails to do so.

But the Romanian government has questioned whether the repatriations comply with European law.

Two Romanian ministers met with French immigration and interior ministers on Wednesday over the issue, agreeing to co-operate more closely in the future.

A joint statement underlined "the will of the Romanian and French governments to better manage bilateral migratory flows, and to support the reinforcement of integration policies for disadvantaged populations".

France's population of Roma, mostly from Romania and Bulgaria, was estimated at around 15,000 before the expulsions began.

Citizens of Romania and Bulgaria, both EU member states, benefit from free circulation within the bloc.

But the French labour market is not fully open to them and if they do not have a job and lodging after three months they are required to leave the country.

 Source: Agencies

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France in Roma 'threat' to Romania




UPDATED ON:
Wednesday, August 25, 2010
22:38 Mecca time, 19:38 GMT


The Romanian government has questioned the legality of the expulsions from France [AFP]

France has suggested it could block Romania's entry to the Schengen border-free zone, an area made up of 25 countries where people can travel freely, if Bucharest fails to control the flow of Roma travellers leaving its borders.

In a letter to the European Commission, Francois Fillon, the French prime minister, also said the $5bn sent every year by the European Union as aid to Romania should be used by the Romanian government to keep Roma in the country.

Raising the stakes as Romanian officials arrived in Paris for two days of talks on Wednesday, the French government defended its repatriation of hundreds of Roma in recent weeks and said the Roma emigration from Romania had become a European problem.

"The Romanian government must make this a national priority and if it doesn't, certain things will happen - notably concerning adhesion of Romania to Schengen," Francois Lellouche, the French European affairs minister, said in an interview with Europe 1 Radio.

EU 'concern'

The EU's top justice official expressed concern over France's expulsion of Roma and said her office was reviewing whether the crackdown complied with EU law.

"I have been following with great attention and some concern the developments over the past days in France as well as the debate sparked in several other [EU] member states," Viviane Reding, the European justice commissioner, said on Wednesday.

"It is clear that those who break the law need to face the consequences. It is equally clear that nobody should face expulsion just for being Roma.

"I have therefore asked my services to fully analyse the situation in France, in particular whether all measures taken fully comply with EU law."

Romania and Bulgaria, where most Roma travellers come from, have been members of the European Union since 2007 and are both due to join the Schengen area next year.

Sarkozy policy

Thousands of Roma people in France are living under the constant threat of eviction after Nicolas Sarkozy, the French president, said in July that he would dismantle 300 of their camps by the end of October.

Six-hundred members of the Roma community have been repatriated from France, mostly to Romania, since the announcement.

Around 10,000 returned to their countries using a "voluntary" procedure last year, which involved the payment of $380 per adult and $125 per child.

Despite growing criticism, Sarkozy's government insists it is acting in accordance with EU law in repatriating Roma who have been in France for over three months without work.

Critics in France, including representatives from right-wing parties, human rights groups and the church, believe the measure is aimed at boosting Sarkozy’s popularity before a general election scheduled for 2012.

The Romanian government has questioned the legality of the expulsions and the European Commission said it plans to issue a report on the legality of the expulsions.

 Source: Agencies

 


Suspected spy found murdered in UK


UPDATED ON:
Wednesday, August 25, 2010
17:06 Mecca time, 14:06 GMT



The man is believed to have been on secondment to MI6, Britain's secret service [Getty/Gallo]

British police are investigating the murder of a man believed to be a British spy, after a body was found in a flat near intelligence headquarters in London.

The corpse, which was reportedly found stuffed into a bag and left in a bathroom, has not yet been formally identified.

The man worked as a communications officer for the country's eavesdropping agency GCHQ, and was on a secondment to MI6, Britain's secret intelligence service, but it was not clear whether he was employed as a spy.

Police and the foreign office, which oversees MI6, have not confirmed the victim's details.

Sim cards 'laid out'

Scotland Yard opened a murder inquiry on Wednesday, two days after the body was discovered in an apartment in Pimlico, 1.6km from MI6 headquarters.

Police entered the residence on Monday afternoon following reports that the occupant, who was said to have been in his 30s, had not been seen for some time.

The Daily Mail reported that police officers found the man's mobile phone and a collection of sim cards "carefully laid out" inside the property.

Scotland Yard refused to say whether there were signs of a struggle or how
the man may have been killed, but said suicide had been ruled out.

Paul Brennan, Al Jazeera's correspondent in London, said the man could have been dead for up to two weeks.

"A post-mortem is taking place today, at which the cause of death will be ascertained, it is hoped. But a stabbing appears to be the version that is coming from police sources at the moment."

He said the fact the death was being investigated by the homocide squad rather than an anti-terror or special branch of the police suggested the murder may not be directly related to espionage.

A police source told the Press Association: "The suggestion there is terrorism or national security links to this case is pretty low down the list of probabilities."

'Den of spy activity'

If reports of the victim being a spy prove true, it will be the latest murder of someone linked to secret services since the killing of Alexander Litvinenko in 2006.

Litvinenko, a former KGB agent turned Kremlin-critic, died in hospital after being poisoned with the radioactive substance polonium-210.

Britain has been known as a den of spy activity since the Cold War, with some 4,000 British intelligence specialists alone working for MI6, GCHQ or Britain's domestic security agency, MI5.

In 1978 Georgi Markov, a Bulgarian dissident, died of blood poisoning after he was stabbed with an umbrella at a London bus stop.

 Source: Al Jazeera and agencies

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Assange to fight molestation charge



UPDATED ON:
Monday, August 23, 2010
12:50 Mecca time, 09:50 GMT



Wikileaks founder tells Al Jazeera that charges against him may be linked to an intelligence operation

Lawyers for Julian Assange, founder of the whistle-blowing website Wikileaks, are set to meet with prosecutors in Sweden to press for molestation charges against their client to be dropped.

Assange said his legal team would meet with Swedish authorities on Monday, three days after officials issued a warrant for his arrest on rape charges.

The warrant and the rape charged were dropped on Saturday, but authorities have yet to decide whether to pursue separate molestation charges.

Assange, in an exclusive interview with Al Jazeera English, said the accusations are part of a smear campaign to discredit his whistleblowing website.

He said that he had been forewarned by Australian intelligence on August 11 to expect a campaign against him, though it was unclear who was behind it.

"It is clearly a smear campaign ... the only question is who was involved.

"We can have some suspicions about who would benefit, but without direct evidence I would not be willing to make a direct allegation," Assange, who is an Australian national, said.

Accusations 'untrue'

Assange said that the accusations were completely untrue and that this was just one of many attempts to discredit him.

"This is the first sexual related we've had, but we have seen 14 fabricated
documents, for example, that have appeared in various places about this organisation which have been shown to be clear fakes," he said. 

"So there are significant forces pushing to perceive things in a particular way."

Authorities withdrew the warrantafter Eva Finne, Sweden's chief prosecutor, reviewed the evidence, deciding there was "no longer reason to believe" Assange had committed rape, Karin Rosander, a spokeswoman for Finne, said.

"You can't call it a mistake because the prosecutor in question has to make a decision based on the information available at the moment of the decision," Rosander told Al Jazeera on Sunday.

The charges against Assange, which come around a month after Wikileaks incensed the US government by releasing a trove of American military informationabout the war in Afghanistan, quickly spread around the internet.

New document leaks

After the Swedish tabloid Expressen first published reportsthat the arrest warrant had been issued for Assange, Wikileaks responded on Twitter:"We were warned to expect 'dirty tricks.' Now we have the first one.

Sweden's national prosecution office insists the issuing of a warrant was normal procedure

"No one here has been contacted by Swedish police. Needless to say this will prove hugely distracting."

Assange's organisation caused controversy in Julywhen it released 75,000 classified US military reports containing information about the Nato war effort in Afghanistan.

The US government condemned the release of the documents, saying the website had "blood on its hands" for naming people who had helped its military against groups such as the Taliban and al-Qaeda, and ordered Wikileaks to return the files.

Assange told Al Jazeera those claims were "an extraordinary thing to hear".

"The Pentagon so far says it not aware of any incident of people coming to harm by what we have released. At the time of the release we took aside 15,000 documents that we believed needed extra careful review and those are the documents we are reviewing and will be released."

According to Assange, the documents will be released within the next two to four weeks.

Two alleged victims

Two women in their twenties made the allegations against Assange, according to Al Jazeera's Paul Brennan, reporting from London.

One woman claimed Assange raped her last weekend in Stockholm, while another alleged he molested her on Tuesday in a separate town in Sweden, Brennan said.

"I think it's quite natural that these rumors happen in a very famous case like this, and I'm not surprised at all," Rosander, the prosecutor's spokeswoman, told Al Jazeera.

She said she could not give any details on the allegations.

Assange was in Sweden last week partly to apply for a publishing certificate to maintain the advantages it receives from the country's whistle-blowing protection laws. Wikileaks also has many of its servers in Sweden.

 Source: Al Jazeera and agencies

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Spain denies hostages release




UPDATED ON:
Monday, August 23, 2010
02:56 Mecca time, 23:56 GMT



two Spanish nationals held hostage by the al-Qaeda in Mauritania have not been freed, government officials have said.

"We are working for a happy conclusion of this case but the
release has not yet taken place and therefore we ask all media to act carefully and responsibly," the official said on Monday.

The El Pais newspaper reported on its online edition, citing its own government sources, that Albert Vilalta and Roque Pascual captured in Mauritania on November 29, had been freed.

According to its website "a Spanish plane is ready to fly to the area but the exact point of the handover is not known".

A government minister in Mali also said officials had "no confirmation" that the two Spaniards had been released.

Negotiations continuing

"We have no confirmation that the two hostages have been freed as I am speaking to you," the minister told AFP news agency.

Earlier this month a Malian official had said a branch of al-Qaeda in the Islamic Maghreb (AQIM), which has executed two hostages, was threatening the lives of the two Spanish nationals, who are held by another branch of AQIM.

But the NGO the men worked for said at the time the families had  seen proof that the two were still alive and that negotiations for their release were continuing.

They were among three Accio Solidaria workers kidnapped in  Mauritania last November and handed over to AQIM, in exchange for payment.

AQIM released the third hostage - Alicia Gamez - in March.

 Source: Agencies

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UK arms expert 'committed suicide'



UPDATED ON:
Sunday, August 22, 2010
11:47 Mecca time, 08:47 GMT


Kelly was found dead in woods near his home in Oxfordshire in southern England [AP]

The pathologist who performed the autopsy on David Kelly’s body has said that the British arms inspector's death was a "textbook case" of suicide.

Nicholas Hunt, in his first talk to media, says that he spent eight hours examining Kelly’s body and found no signs of murder, and that Kelly's death was because of a self-inflicted injury.

The autopsy came after a group of prominent experts, questioning the suicide verdict recorded in an inquiry, called earlier this month for a full inquest into Kelly's death in July 2003.

Kelly, 59, was found dead in woods near his home in Oxfordshire, southern England, after he was exposed as the source for a BBC story that alleged that the UK government had "sexed up" intelligence on Iraqi weapons of mass destruction ahead of the invasion.

The death created a major crisis for Tony Blair, the then UK prime minister. Britain took part in the US-led invasion of Iraq, which began in March 2003.

Kelly's treatment

Hunt has told the Sunday Times newspaper he was horrified at the way the Blair government had treated Kelly.

"I felt very, very sorry for David Kelly and the way he had been treated by the government ... I had every reason to look for something untoward and would dearly love to have found something," Hunt said.

"It was an absolute classic case of self-inflicted injury. You could illustrate a textbook with it.

"If it were anyone else and you were to suggest there's something foul about it, you would be referred for additional training. I would welcome an inquest, I've nothing to hide."

'Thick clots of blood'

Responding to the questioning of the suicide verdict by eight senior figures, Hunt said: "Nobody would have seen the amount of blood at the scene.

"In actual fact there were big, thick clots of blood inside the sleeve, which came down over the wrist, and a lot of blood soaked into the ground. They might not have seen it, but it was there and I noted it in my report."

Hunt said that there was "nothing to suggest" the body had been moved, another claim from critics of investigation.

He said a fingertip examination of Kelly's body and DNA testing found no evidence of third-party involvement.

Kelly's death was caused by the bleeding, severe heart disease and an overdose of painkillers, he found.

Kelly was the most experienced British expert involved in UN inspections in Iraq intended to prevent the government of Saddam Hussein from acquiring weapons of mass destruction.

'Sexed-up' intelligence

In the run-up to the invasion, Blair's government published a dossier of intelligence about Saddam's purported weapons of mass destruction in a bid to strengthen its case for going to war, including a claim that they could be deployed within 45 minutes.

After the "sexed up" dossier claim, the government was furious and sought out the source.

In the wake of the US-led invasion, no such weapons were found.

Following Kelly's death, Charles Falconer, then the government's chief law officer, suspended an inquest into the death before an inquiry began, and the inquest was never resumed.

The inquiry concluded "the principal cause of death was bleeding from incised wounds to his left wrist which Dr Kelly had inflicted on himself with the knife found beside his body".


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Italy wants EU action on Roma



UPDATED ON:
Saturday, August 21, 2010
22:08 Mecca time, 19:08 GMT


Maroni says he will lobby for tougher action
against the Roma at the EU level [EPA]

Italy's interior minister has praised France's crackdown on Roma, saying that citizens of other EU states who depend solely on state benefits should be expelled.

France is "simply copying Italy" in flying more than 200 members of the minority to Romania this week, Roberto Maroni said in an interview published in Corriere della Sera daily on Saturday.

"For years now, Italy has been using the technique of voluntary and assisted repatriation."

Maroni, a leading figure from the anti-immigration Northern League party, said that he would like Italy to be able to expel EU citizens who do not meet minimum income and housing requirements and who weigh on the host state's social welfare system.

"Many Roma are EU citizens but do not fulfill any of these requirements," said Maroni, whose party is the main ally in parliament of Silvio Berlusconi, the prime minister.

The minister said that the European Commission had denied Italy permission to pursue such a plan in the past but that he would resume lobbying and push for the change at the meeting of EU interior ministers on September 6.

"Racist"

France this week sent dozens of Roma on flights to Romania in a mass repatriation that it says is voluntary. Others said Roma were coerced to leave France and the measure was criticised by the French opposition, the Vatican and the Council of Europe.

Comparing the situation of Roma in Italy to those in France, Maroni said that "the problem is something else: unlike in France, many Roma and Sinti here have Italian citizenship. They have the right to remain here. Nothing can be done."

Maroni's comments were immediately denounced by the political opposition, including the Italy of Values party which said the plan smacked of racism.

"The government is making distorted, discriminatory and racist use of indisputable principles like the right to security and respect of law," Leoluca Orlando, the spokesman for the Italy of Values, said in a statement.

"Faced with a clearly discriminatory attitude towards Roma who are EU citizens, we're forced to talk about a false respect for legality and a degeneration of European rules."

The centre-right government of Prime Minister Silvio Berlusconi has drawn similar accusations from opposition parties and human rights groups with its policies to root out illegal immigration and crime.

"Climate of intolerance"

Many Italians associate the Roma in particular with crime and begging. Last year the European Council's high commissioner for human rights said Roma and Sinti people in Italy were subject to "a persistent climate of intolerance".

In 2008, Berlusconi's government proposed fingerprinting Roma and their children, but partially backed down after coming under a barrage of criticism, saying the policy would apply first to those living in Italy who could not provide identification before being extended to all residents with identity cards.

Last year, forcing children to beg was made a jailable offence, a measure seen as targeting the Roma.

Berlusconi accuses the left of wanting an "invasion of foreigners". Since coming to power his government has made illegal entry and residency a criminal offence and repelled vessels carrying migrants heading towards Italy.

France expelled around 10,000 Roma to Romania and Bulgaria last year, but the flights this week are the first since Sarkozy announced a tough law and order crackdown that explicitly linked crime and immigration.

 Source: Agencies

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Arrest warrant for Assange dropped



UPDATED ON:
Saturday, August 21, 2010
18:59 Mecca time, 15:59 GMT


Wikileaks founder Assange has been at odds
with the US [Photo: Esther Dyson, via Flickr]

Swedish prosecutors have cancelled an arrest warrant issued for Julian Assange, the founder of controversial whistleblower website Wikileaks.

The warrant was issued following a sexual assault complaint against him.

But on Saturday night, as international media outlets were beginning to pick up the story, Eva Finne, Sweden's chief prosecutor, announced that Assange was no longer wanted.

"I don't think there is reason to suspect that he has committed rape," the chief prosecutor said, but declined to go into any more details.

Assange had denied the allegations,saying via Twitter that the charges were "without basis and their issue at this moment is deeply disturbing".

The prosecutor's office in Stockholm said an arrest warrant was issued for the 39-year-old Australian national late on Friday for suspicion of rape and molestation.

'Dirty tricks'

After Swedish tabloid Expressen,first published reports that the arrest warrant had been issued for Assange, Wikileaks responded on Twittersaying: "We were warned to expect 'dirty tricks.' Now we have the first one."

"No one here has been contacted by Swedish police. Needless to say this will prove hugely distracting."

Assange's organisation has caused much controversy recently with the release of 75,000 classified US military documentscontaining information surrounding the wars in Iraq and Afghanistan.

The US government rejected the release of the documents, saying the website had "blood on its hands" for naming people who had helped its military in opposition to groups such as the Taliban and al-Qaeda, and ordered Wikileaks to return the files.

Wikileaks, meanwhile, has said that it is plans to reveal more of the remaining 15,000 classified documents it holds, possibly this month or next month.

Al Jazeera's Paul Brennan, in London, said: "The two alleged victims in this are in their twenties.

"One is supposed to have happened last weekend in Stockholm and another last Tuesday in Sweden but in a separate town."

Assange was in Sweden last week partly to apply for a publishing certificate to maintain the advantages it receives from the country's whistle-blowing protection laws. Wikileaks also has many of its servers in Sweden.

 Source: Al Jazeera and agencies

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Google News Alert for: Europe News


21 Aug  2010

German 30-Year Government Bond Yield Falls to Record on ECB Policy Outlook
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Google News Alert for: Europe News


20 Aug  2010


France Expels Group of Gypsies to Romania
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STOCKS NEWS EUROPE-Holcim falls as broker cuts target
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Banks Lead Increase in European Bond Risk on US Economy `Double Whammy'
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ForexLive European morning wrap: No news, busy trading
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German growth forecasts boost European equities
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Google News Alert for: Europe News


19 Aug  2010

Europe stocks up as Bundesbank lifts growth target
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Asian shares advance, Europe extends losses
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Blazers' Fernandez seeks return to Europe
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STOCKS NEWS EUROPE-Adecco falls after Goldman downgrade
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Police bust Paris "booby" trap gang

PARIS | Wed Aug 18, 2010 12:54pm EDT

PARIS (Reuters) - French police have arrested two teenage girls they say stole hundreds of euros from unsuspecting cash machine customers after distracting them by flashing their breasts.

The 14-year old girls were taken to the Paris prosecutor's office to face charges while a 12 year-old accomplice was placed in a home, police said.

The girls first struck last week when they approached a man withdrawing cash from an automated teller machine (ATM) in the sixth district of Paris.

One of the girls tried to distract him by sticking a newspaper under his nose. When that failed, she opened her shirt and grabbed his crotch, while the other girl swiped 300 euros ($385).

The girls struck again with the help of the 12-year old a few days later, using the same method to steal 500 euros from a woman.

(Reporting by Bate Felix; Editing by Steve Addison)


 


Google News Alert for: Europe News


18 Aug  2010

Bookies see Europe stocks down; focus on oils
Reuters
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Google News Alert for: Europe News


17 Aug  2010


Insurers, miners boost Europe shares
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16 Aug  2010

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Google News Alert for: Europe News


15 Aug  2010

ECB's Honohan Says Europe Is Experiencing `Slow' Recovery, Reuters Reports
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Iraq Cuts Sep Basra Crude OSP To Europe, Asia; Raises US - SOMO
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FDA Approves New Form Of Emergency Contraception
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'12 die in Algerian desert' in bid to reach Europe
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Among the likely targets are officers in Europe. US military and NATO forces in Europe are jointly led by a four-star commander. ...
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Google News Alert for: Europe News


14 Aug  2010

MARKET COMMENT: European Shares See Small Gain
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By Sarah Turner LONDON (Dow Jones)--European shares ended slightly higher Friday, with an early boost from strong economic data tempered by ongoing worries ...
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Europe right-wingers at controversial Japan shrine
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European Stocks Retreat After Fed Pares Growth Forecast; Vedanta Declines
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New Morning-After Pill Ella Wins FDA Approval
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Dollar Index Breaks Longest Losing Streak in 5 Years on Economic Prospects
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Ford: Europe strategy OK
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Mounting recovery fears hit Europe's bourses
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East Europe economies show mixed performance
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Markit iTraxx Credit Indexes Stay Tighter
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Barron's European Trader Sees Takeover Opportunities in Europe
Barron's
The news helped European bourses pare losses for the week. The Stoxx Europe 600 index slid to 255.56, down 1.2% from the prior week, with the Federal ...
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Google News Alert for: Europe News


13 Aug  2010

Europe Growth Accelerates to Fastest Since 2006, Led by Germany
Bloomberg
13 (Bloomberg) -- Gilles Moec, an economist at Deutsche Bank AG, talks about the outlook for growth in Europe after German gross domestic product rose 2.2 ...
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European Stocks Drop on Sovereign Debt Concern; HSBC Declines
BusinessWeek
13 (Bloomberg) -- European stocks declined, led by banks, amid renewed concern that the region's sovereign debt crisis will curb economic growth in the ...
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Corporate Bond Risk Declines in Europe, Credit-Default Swap Prices Show
Bloomberg
By Abigail Moses - Fri Aug 13 10:09:52 GMT 2010 The cost of protecting European corporate bonds from default rose, heading for the first weekly increase ...
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Heard on the Street: Europe's Telecom Companies Need a Skeptical Eye Abroad
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By HESTER PLUMRIDGE Revenue may be drying up at home, but Europe's telecommunications operators need to beware of emerging-market mirages. ...
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Eastern Europe's Export-Led Recovery Is Fueled by Germany's Record Growth
Bloomberg
By Peter Laca - Fri Aug 13 11:10:40 GMT 2010 East European economies strengthened from a year earlier in the second quarter on increasing demand for their ...
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What chilled the US economy? An ill 'headwind' from Europe, says Obama
Washington Post
When Obama spoke Wednesday in the East Room about American manufacturing, he placed the inflection point at "last spring," when he said "events in Europe ...
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Nvidia blames weakness in Europe, China for Q2 loss
EETimes.com
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12 Aug  2010


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11 Aug  2010

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10 Aug  2010


Central Europe flood levels fall
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GDF Suez, International Power ink deal; Tui Travel issues downbeat outlook
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China's July exports up but import growth weakens
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Corporate Bond Risk Increases in Europe, Credit-Default Swap Market Shows
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Europe stocks and US futures down; DAX slips 0.60%
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Stocks Drop in Europe as Mining, Leisure Shares Fall; US Futures Decline
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09 Aug  2010


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08 Aug  2010


Nine dead as flash floods inundate central Europe
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... flood-borne debris including damaged cars and evacuate victims after heavy rains across central Europe killed at least nine people over the weekend. ...
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Colin Montgomerie considers picking Bernhard Langer for Ryder Cup
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Genetically Modified Plants on the Loose and Spreading, Scientists Report
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Pollution soars amid Russian blazes



UPDATED ON:
Saturday, August 07, 2010
21:45 Mecca time, 18:45 GMT


Almost 10,000 firefighters are struggling to contain the wildfires [AFP]

Pollution from peat and forest fires raging around the Russian capital, Moscow, has surged to record levels as wildfires continued to spread across the west of the country.

More than 600 separate blazes were burning on Saturday, raising carbon monoxide levels nearly seven times the safe reading, the highest since Russia’s worst heatwave in living memory began a month ago.

Residents sheltered indoors or fled from Moscow to less polluted climes. Many Muscovites were wearing face masks on the street.

Health experts warned that the best solution is to leave the city for the weekend, leading to a rush for seats on trains and planes out of the capital, news agencies reported.

'Situation extreme'

"The situation is truly extreme. People are in circumstances under which they should not have to live," a member of the League for the Nation's Health group told the Kommersant daily.

At least 52 people have died and 2,000 homes have been destroyed in the fires.

US state department warned its nationals from travelling to affected areas due to the “hazardous levels of pollution", while Germany closed its embassy until further notice and advised citizens against "non-essential" travel. 

in depth
  In pictures: Wildfires rage in Russia
  Medvedev sacks officials over fires
  Russia moves rockets amid wildfires
  Russia bans exports of grain
  Blog: Sweltering Russians dying for a dip
  Video: Russia's devastating wildfires

Dozens of incoming flights were diverted from the city's two main airports as smog brought runway visibility down to 325 metres in Domodedovo airport and 550 metres in Vnukovo airport.

The smog from spreading wildfires has also forced the Russian Football Union (RFU) to move a friendly match against Bulgaria to Saint Petersburg, local media reported.

About 10,000 firefighters have been deployed to battle the blazes, a number Russian officials acknowledge is not enough. Firefighters from Italy, Germany and Bulgaria flew in to help while several other countries have sent firefighting aircraft.

Russian troops excavated an 8km long canal to prevent the flames from advancing to the top secret Sarov nuclear arms facility, located 354km east of Moscow. The emergency ministry has said the situation has"stabilised" as all nuclear materials were transferred to a safe site.

A wildfire last week caused huge damage at a Russian naval air base outside the capital, with Russian media reporting as many as 200 planes may have been destroyed.

Weather forecasters say Russia's worst heatwave in decades would continue for the coming days, with a temperature reaching up to 38 degrees Celsius.

 Source: Al Jazeera and agencies

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07 Aug  2010

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Wildfire smog sparks Moscow chaos




UPDATED ON:
Friday, August 06, 2010
23:50 Mecca time, 20:50 GMT

More than 500 separate blazes are burning nationwide, mainly across western Russia [AFP]

A dense smog from raging wildfires has enveloped Moscow, grounding flights at the city's airports and causing many residents and tourists to wear face masks.

Airborne pollutants such as carbon monoxide have been registered at four times higher than average readings, the worst seen to date in the Russian capital, as temperature rose close to 40 degrees Celsius.

Dozens of incoming flights were diverted from the city's Domodedovo and Vnukovo airports on Friday as smog brought runway visibility down to 200 metres.

All incoming flights to Domodedovo were being offered alternative airports at which to land, but the decision to divert was up to individual flight crews, Yelena Galanova, an airport spokeswoman said.

Moscow's other main airport, on the opposite side of the city from most of the blazes, freed up tarmac space to receive some planes.

Other flights decided to divert to St Petersburg, 640km to the northwest, or to Kazan, 800km east of the capital.

The emergencies ministry said more than 500 separate blazes were burning nationwide on Friday, mainly across western Russia.

At least 52 people have died and 2,000 homes have been destroyed in the fires.

Burning smell

Neave Barker, Al Jazeera's correspondent in Moscow, said: "Earlier on in the day the air was thick with the smell of smoke.

in depth
  In pictures: Wildfires rage in Russia
  Medvedev sacks officials over fires
  Russia moves rockets amid wildfires
  Russia bans exports of grain
  Blog: Sweltering Russians dying for a dip
  Video: Russia's devastating wildfires

"Visibilty was about 50 metres to 100 metres or so, most of the smoke billowing in from about 100km from here, from a combination of peat fires and forest fires."

Barker said the nature of the fires was making it even more difficult to put them out.

He said: "Because there are fires within dried out peat bogs the flames themselves keep on simmering underneath the surface of the ground.

"So despite the amount of water that is spread on to the surface to douse the flames, as soon as the humidity in the soil drops those fires can reignite themsleves."

Intense heat

Dozens of forest and peat bog fires around Moscow have ignited amid the country's most intense heat wave in 130 years of record-keeping.

Visibility in parts of the capital was down to a few dozen metres due to the smog, which carried a strong burning smell and caused coughing.

"It hurts my eyes," Valeriya Kuleva, a student, said. "I'm wearing a mask but nothing helps."

Mikhail Borodin, a Moscow resident in his late 20s, said: "It's just impossible to work.

"I don't know what the government is doing, they should just cancel office hours."

Yuri Besedin, a Moscow emergency official, said: "All high-temperature records have been beaten, never has this country seen anything like this, and we simply have no experience of working in such conditions.

Besedin said 31 forest fires and 15 peat bog fires were burning in the Moscow region alone.

Explosives evacuated

Russian officials have admitted that the 10,000 firefighters battling the blazes are insufficient, an assessment echoed by many villagers, who said the fires swept through their hamlets in minutes.

To minimise further damage, Russian officials have evacuated explosives from military facilities and were sending planes, helicopters and even robots to help control blazes around the country's top nuclear research facility in Sarov, 480km east of Moscow.

A wildfire last week caused huge damage at a Russian naval air base outside the capital, with Russian media reporting as many as 200 planes may have been destroyed.

The forecast for the week ahead, with temperatures approaching 38 degrees Celsius, shows little change in Moscow and surrounding regions, where the average summer temperature is normally around 23 degrees Celsius.

 Source: Agencies

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Planes diverted and offices close as smoke chokes Moscow

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Fri Aug 6, 2010 10:56am EDT

MOSCOW (Reuters) - Dense clouds of acrid smoke from peat and forest fires choked Russia's capital on Friday, seeping into homes and offices, diverting planes and prompting exhausted Muscovites to wear surgical masks to filter the foul air.

Air pollution surged to five times normal levels in the city of 10.5 million, the highest sustained contamination since Russia's worst heatwave in over a century began a month ago.

"It feels like I'm in a burning house and I can't escape," said Yelena Petrenko, 32, who used a handkerchief to cover her mouth because drugstores she visited had run out of facemasks.

Officials urged Muscovites to stay indoors because of the dangerous levels of carbon monoxide and fine particles in the air. Weather forecasts said the smoke, which has reached even underground metro stations, would persist until Monday.

On Red Square, smoke shrouded the onion domes of St Basil's cathedral. The weekly changing of the guard ceremony in the Kremlin was canceled for Saturday.

NASA satellite images showed a 3,000 km-long (1,850 mile) smoke cloud covering swathes of European Russia.

Moscow temperatures reached 36 Celsius (96.8 Fahrenheit) on Friday, breaking a daily record for the fifth straight day.

The deadliest wildfires in nearly four decades have killed at least 52 people and left more than 3,500 homeless as entire villages of wooden homes burned down, official figures say.

The true toll from the smoke and heatwave may be much higher. Interfax news agency quoted an "informed source" on Friday saying death rates in Moscow surged nearly 30 percent in July because of the "disastrous heat and smoke cloud".

Moscow Mayor Yuri Luzhkov has been silent on the smoke engulfing his city. A city government spokeswoman said he had left on holiday earlier in the week.

One of the world's top grains producers, Russia has announced a temporary ban on exports after crops were ravaged by the dry weather. The news sent world wheat prices soaring.

Despite a huge effort involving more than 160,000 people fighting fires, authorities appeared to be losing the battle.

The size of peat fires burning in the Moscow region almost doubled from 37.5 hectares on Thursday to 65.7 hectares on Friday, the regional Emergencies Ministry branch said.

The emergency has prompted the country's enfeebled opposition to complain of poor fire safety readiness and a slow, ineffective government response.

President Dmitry Medvedev visited an ambulance station in Moscow on Friday and expressed solidarity with smoke-choked Muscovites.

"I woke up this morning and looked around -- it's a monstrous situation," Medvedev said. "Have patience, because I hope this will all end."

AIRCRAFT DIVERTED

Russia's state-controlled media have been at pains to show a vigorous government effort to fight the blazes and have avoided detailed reporting on the hazards to health.

Prime Minister Vladimir Putin has toured fire-stricken regions promising generous compensation to residents and ordering officials to step up efforts to extinguish the blazes.

The government has warned that the fires could pose a nuclear threat by releasing radioactive particles buried in trees and plants by the 1986 Chernobyl nuclear disaster.

A senior Emergencies Ministry official, Vladimir Stepankov, said the most difficult fire situations were in the regions ringing Moscow and Nizhny Novgorod, including the closed town of Sarov, home to a nuclear arms facility.

Russia's nuclear chief on Thursday assured Medvedev that all explosive and radioactive material had been removed.

Sarov's firefighting headquarters said firefghters were trying to extinguish two blazes inside the perimeter of the closed city on Friday, while soldiers cut firebreaks in a burning forest to the south, state-run news agency RIA reported.

The first Soviet nuclear weapon was made in 1949 in Sarov at the Institute of Experimental Physics, which remains the main nuclear design and production facility in Russia.

With visibility low, Russia's aviation authority said at least 60 planes had been diverted to as far away as Ukraine from Moscow's busy airports. Flights and trains out of Moscow were booked solid as residents tried to flee the smoke.

Office workers were sent home as smoke crept into buildings. A spokesman for Russia's No. 1 retailer X5 said all 1,500 staff were ordered home.

"I can smell smoke right here in the office," an employee at a bank, speaking on condition of anonymity, told Reuters.

A trader at another bank said smoke had entered the building and staff were given permission to leave. (Additional reporting by Alexei Anishchuk, Nastassia Astrasheuskaya, Maria Plis, Dmitry Sergeyev and Andrey Ostroukh; writing by Amie Ferris-Rotman, Michael Stott and Steve Gutterman; Editing by Alison Williams and Mark Heinrich)

 



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News Europe

Zardari to confront UK's Cameron




UPDATED ON:
Friday, August 06, 2010
10:41 Mecca time, 07:41 GMT


 Zardari has vowed to express Islamabad's anger during his meeting with Cameron [AFP]

Asif Ali Zardari, Pakistan's president, is set to confront David Cameron, the British prime minister, over claims that Pakistan is allowing the Taliban and other armed groups to operate from its territory.

Relations between the two countries have soured since Cameron lashed out at Pakistan last week, accusing Islamabad of promoting "the export of terror" while looking "both ways".

Tension has been building ahead of the meeting on Friday at Chequers, the prime minister's country retreat outside of London, with both leaders refusing to back down.

Downing Street confirmed that the two leaders would discuss the fight against Taliban and al-Qaeda in the wake of Cameron's comments.

"The leaders are expected to discuss the threat, review ongoing efforts, and explore what more can be done," a spokesman said.

Zardari has hit back at the allegations of double-dealing, arguing that Pakistanis are often the victims of attacks on home soil and that Islamabad is committed to fighting armed groups in the region.

He has vowed to express Islamabad's anger "face to face" when he meets Cameron.

For his part, the prime minister has insisted he stands by his comments.

Zardari under pressure

The British leader's criticism sparked fury in Islamabad, especially as it was made on a visit to India, with which Pakistan has fought three wars since partition in 1947.

The remarks prompted the Pakistani government to summon Britain's ambassador to Islamabad earlier this week for a dressing down.

Zardari came under enormous pressure to cancel his trip over the controversy, but his office insisted that it gives Pakistan a chance to make its case.

Despite standing by his comments, Cameron has accepted that Pakistanis are often the victims of attacks, including the one that killed Zardari's late wife Benazir Bhutto, the former premier assassinated in Pakistan in 2007.

The leaders are also set to discuss the devastating floods in Pakistan which have killed around 1,500 people and affected more than four million.

Zardari's failure to return home immediately in the aftermath of the disaster has drawn criticism from opposition politicians in Pakistan and MPs of Pakistani origin in Britain.

Other issues on the agenda include the war in Afghanistan and how to boost trade between Britain and Pakistan.

The two leaders met for the first time on Thursday since the row erupted, getting together for dinner at Chequers for what sources said would be an informal celebration of Benazir Bhutto.

 Source: Agencies

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Chechen rebel chief denies quitting



UPDATED ON:
Wednesday, August 04, 2010
17:46 Mecca time, 14:46 GMT


Doku Umarov is Russia's most-wanted man and listed as a terrorist by the United States [EPA/Intelcenter]

Doku Umarov, the head of Chechnya's armed separatist group, has withdrawn comments that he is stepping down from his post, according to a video broadcast online.

"Due to the situation in the Caucasus I consider that it is impossible for me to quit my duties," he was shown saying in a posting on Kavkazcenter.com, a separatist website, on Wednesday.

"The previous declaration is annulled. It is a falsification," he said.

A video posted earlier this week appeared to show Umarov, 46, citing health reasons for stepping down to make way for a "more energetic" successor.

But in the new video he said: "I declare that my health is good to serve Allah.

"And I will serve the word of Allah and work to kill the enemies of Allah in all the time that he gives me to live on this earth".

Kavkazcentre.com added that Umarov had described the earlier video, first released on Sunday, as a "fabrication", but offered no explanation on the two differing statements.

Separatist rebellion

Umarov describes himself as the emir of the Caucasus Emirate - a separatist group fighting for independence in Russia's predominantly Muslim North Caucasus, to create a state governed by sharia (Islamic law).

in depth

  Timeline: Attacks in Russia
  The North Caucasus: A history of violence
  Chechnya's battle for independence
  Analysis: Moscow metro explosions

Also known as Abu Usman, Umarov has for years been at the centre of the rebellion in the Caucasus, which has claimed scores of lives annually.

He joined Chechnya's separatists in 1992, fighting in both Chechen wars against Russian forces, and also served as security minister in the province's separatists government from 1996 to 1999.

Umarov claimed responsibility for twin suicide bombings that killed 40 people on Moscow's metro in March and the derailment of a Moscow-St Petersburg train that left 26 people dead in November last year.

He is believed to have been wounded several times in recent years, causing some speculation over whether the rebel leader is still alive.

Russian authorities have prematurely announced his death on a number of occasions.

His separatist movement has evolved from one seeking independence from Moscow to a broader Islamic movement looking to establish an Emirate across the Caucasus mountains.

Last month, the Chechen rebels attacked a hydroelectric plant in the North Caucasus republic of Kabardino-Balkaria, signalling a change in their tactics and making good on a pledge made long ago to attack Russia's economic interests.

The United States has listed Umarov, who is also Russia's most-wanted man, as a terrorist.

 Source: Agencies

 


More deaths as Russian fires spread



UPDATED ON:
Wednesday, August 04, 2010
14:16 Mecca time, 11:16 GMT


Vladimir Putin, Russia's prime minister, visited firefighters battling the blazes [AFP]

The death toll from wildfires that have wiped out forests and villages in western Russia has risen to at least 48, officials have said.

Almost 403 new fires were recorded in the past 24 hours, on top of 520 fires still raging, the emergencies ministry said on Wednesday.

Vladimir Putin, Russia's prime minister, has declared the situation "tense and dangerous", while Dmitry Medvedev, the president, cut short a holiday to hold emergency talks on the fires.

Ongoing blazes have left a thick blanket of smog covering Moscow, the capital, carrying harmful gases into the city and stinging the eyes and throats of commuters.

Health hazard warnings

Current levels of carbon monoxide in Moscow soared to about 5.7 times safe levels overnight on Wednesday.

Russia's most senior lung doctor has warned residents are inhaling the equivalent of 40 cigarettes every few hours.

"As soon as one fire is put down at least four others rage in different areas."

Neave Barker
Al Jazeera correspondent

Around 170,000 people, including troops, are said to be helping to battle the fires in more than a dozen western Russian provinces.

Around 293 fires have been extinguished over the last 24 hours, "but in some places it is getting out of control," Sergei Shoigu, emergencies minister, said during a briefing with Medvedev.

The president has already imposed a state of emergency in the seven regions worst hit by the fires. The heaviest death toll has been in the Nizhny Novgorod region east of Moscow.

Meanwhile Putin visited the southern region of Voronezh, another area devastated by the fires.

"The situation with forest fires in the country has on the whole stabilised but remains tense and dangerous," he told a meeting of officials.

The authorities have been particularly concerned by wildfires burning around Sarov in central Russia, the location of the country's top secret nuclear research facility.

Wildfires 'set to continue'

The blazes, coming after weeks of record-breaking heat and no rainfall, have destroyed nearly 2,000 residences and left thousands homeless.

Neave Barker, Al Jazeera's correspondent in Moscow, reported that officials have said they are losing the fight to control some of the fires burning in the west.

"As soon as one fire is put down at least four others rage in different areas."

"The situation doesn’t appear to be getting any better," he said.

The authorities have promised compensation to those who have lost their homes and Putin said he would personally supervise the reconstruction via video cameras to be installed at each construction site.

Environmentalists have criticised the government's response, saying that the safety infrastructure in place can only deal with smaller fires.

They say the situation has only been made worse by a Putin-era change to the law which has ended the country’s centralised fire control system.

Forecasters warned that record temperatures were going to continue in the coming days, with no rain forecast and the mercury expected to hit 38 degrees Celsius in Moscow this week.

 Source: Al Jazeera and agencies

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Google News Alert for: Europe News


04 Aug  2010

Google Changes Branded Advertising Policy In Europe
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PARIS (Dow Jones)--Google Inc. (GOOG) Wednesday said it will allow advertisers to link their advertisements to trademarked words in Europe, bringing the ...
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Banks, economic woes drag European shares lower
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Gold rises on weaker stocks and hopes for Asian demand
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By Jan Harvey LONDON (Reuters) - Gold rose above $1190 an ounce in Europe on Wednesday, benefiting from softer appetite for assets such as stocks and hopes ...
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COMPANY VIEW-Impact of Europe's economic woes
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SocGen 2Q Net Surges On Retail, Lower Provisions
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US Urges Japan To Take "Strong Measures" Against Iran
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CORRECT: INTERVIEW: Cognizant Doesn't Expect Europe Crisis To Hit Demand
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New Zealand Dollar Falls To Multi-day Lows Against Most Majors
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(RTTNews) - In early European trading on Wednesday, the New Zealand dollar plummeted to multi-day lows against the currencies of Australia, Europe and Japan ...
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Google News Alert for: Europe News


03 Aug  2010


Stocks surge on news from manufacturers, European banks
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(Richard Drew/associated Press) By Jia Lynn Yang Investors buoyed by solid bank earnings in Europe and promising manufacturing numbers in the United States ...
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Asia stocks gain on economy news; Europe down
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European shares were lower. Oil prices hovered above $81 a barrel to near a three-month high as improved sentiment in stock markets boosted crude. ...
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European Central Bank sees pressure ease
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Oil Is Near Three-Month High After Breaching $81 for First Time Since May
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US Stocks Climb As European Bank Earnings Boost Confidence
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High-Yield Default Swaps Gauge Falls to 13-Week Low in Europe
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3 (Bloomberg) -- The cost of protecting European corporate bonds from default fell, with a gauge of high-yield company debt risk dropping to the lowest ...
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European Stocks, US Futures Retreat; ITV, Media Shares Fall
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Dow Chemical Earnings Trail Estimates After Factory Outages
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Adverse weather affected crops in North America and Europe, Dow said. “Our US macroeconomic view remains guardedly optimistic,” Liveris said in the ...
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Treasuries, Yen Strengthen; US Index Futures Fall on P&G, Dow
BusinessWeek
The Stoxx Europe 600 Index slid 0.4 percent. The MSCI World Index of 24 developed nations rose 0.2 percent on gains in Asia. Copper fell for the first time ...
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Google News Alert for: Europe News


02 Aug  2010


Europe shares hit 3-mth high after banking results
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HSBC 1H Net Doubles To $6.76B On Lower Charges
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Imimobile Europe Ltd Offer Update
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TIDMWNN RNS Number : 3561Q IMImobile Europe Ltd. 02 August 2010 ? Not for release, publication or distribution, in whole or in part, in, ...
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Time to Buy Dollars Again as Euro Economies Hit Limits of Fiscal Austerity
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Europe Manufacturing Accelerates More Than Estimated
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2 (Bloomberg) -- Growth in Europe's manufacturing industry accelerated more than previously estimated in July, indicating an export-led recovery maintained ...
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BP Said to Seek Buyers for German Gas Stations
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Metro Second-Quarter Profit Falls 15% as Company Takes Charges to Cut Jobs
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By Meg Tirrell - Mon Aug 02 04:01:00 UTC 2010 Germany, Greece and Spain have cut or plan to reduce their health spending after European Union policy makers ...
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Dutch mission ends in Afghanistan




UPDATED ON:
Monday, August 02, 2010
02:10 Mecca time, 23:10 GMT


The Dutch deployment was focused in Afghanistan's southern Uruzgan province [AFP]

The Dutch troop withdrawal from Afghanistan has officially begun, making the Netherlands the first country in Nato's mission there to leave.

The four-year deployment has cost the lives of 24 Dutch soldiers and $1.8 billion but has garnered praise from Anders Fogh Rasmussen, the Nato secretary-general, who said the Dutch mission was "the benchmark for others".

Dutch troops arrived in Afghanistan in 2006, and their deployment was scheduled to end formally on Sunday.

Nato had asked the Netherlands to extend the deadline, a request that led to the collapse of the Dutch government in February when Labour party members of the country's ruling coalition would not agree.

'Successful' mission

The majority of Dutch troops in Afghanistan were deployed in the country's southern Uruzgan province, where they implemented a "whole of government" strategy called the "3D" approach for its focus on development, diplomacy and defence.


Al Jazeera's James Bays reports from Kabul where Dutch troops are ending their mission

The plan garnered positive media attention and a favourable view from Barack Obama, the US president, who called the Dutch mission "one of the most outstanding" in Afghanistan.

Access to education and health care improved under Dutch oversight, but a lack of dependable energy and security still hampered the province in 2009, according to one reportby the Liaison Office, a non-governmental organisation in Afghanistan.

The Dutch troops were also unable to substantially reduce the production of poppy, and doubts among the populace about the Afghan government's ability to provide services in the absence of foreign help persisted, according to the report.

Brigadier-General Van De Heuvel, the commander of Dutch forces in Afghanistan, told Al Jazeera: "I'm proud of the Netherlands being four years here in Uruzgan province but on the other hand I feel sad to leave. There is a lot to be done but I am happy to be handing over to our successors and I am very trustful they will carry on the same way we did.

"I think it was a combination of security, development and governance that defined our approach there and as far as I can see, it worked very well."

No ink spot

The Dutch were part of a Nato effort to set up secure zones in southern Afghanistan and expand them like "ink spots".

But four years on, Al Jazeera's James Bays reports, that ink spot does not extend far beyond the main Dutch base.

"People’s anticipations were not met during their stay, people had hoped that security, reconstruction, and development will be established," Mohammed Hashim Watanwal, a member of parliament from Uruzgan, told Al Jazeera.  

"Unfortunately I would like to say ... the Dutch have not given sufficient attention to this province".

Canadian troops who make up the majority of Nato forces in neighbouring Kandahar province are scheduled to begin coming home next year, and the departure of the Dutch is likely being closely watched by other European nations, our correspondent said.

The coming drawdown of foreign forces - the United States is also set to begin reducing troop levels next year - makes Afghans themselves wonder about the international commitment to their country, according to our correspondent.

"You speak to ordinary Afghans, and it adds to the perception ... they think that Nato is not here for the long term, that Nato forces will soon withdraw, even American forces will soon withdraw," Al Jazeera's correspondent said.

Many believe that "it's possible the Taliban will be back."

 Source: Al Jazeera and agencies

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Chechen rebel leader steps down



UPDATED ON:
Monday, August 02, 2010
02:14 Mecca time, 23:14 GMT


Doku Umarov is Russia's most-wanted and listed as a terrorist by the United States [EPA/Intelcenter]

Doku Umarov, the leader of the Chechen rebel group, has stepped down and appointed a successor to fight Russia's central rule in the North Caucasus.

The announcement was made through the unofficial Islamist website kavkacenter.com on Sunday.

Umarov has claimed responsibility for a host of attacks in recent months, including the March 29 bombings of the Moscow metro that killed at least 40 people and wounded 100 more.

"The Emir of the Caucasus Emirate Dokku Abu Usman [Doku Umarov] has officially announced his resignation from the post of Emir of the Caucasus Emirate for health reasons and appointed his successor, Emir Aslambek [Aslambek Vadalov] to this post," the rebels announced on the website.

"[Umarov] said that jihad should be led by younger and more energetic commanders and stressed that after his resignation ... he intends to continue to wage jihad and will do his utmost to help the new leadership."

Continuing struggle

Aslambek Vadalov will continue the struggle against Russian rule [Reuters]

The United States has listed Umarov, known as Russia's most wanted, as a terrorist.

"This [stepping down] does not mean that I give up jihad," Umarov, bearded and wearing a national skullcap, said in a video address posted on the same website.

"I will do whatever I can by word and deed," he added, filmed sitting in a forest next to Vadalov and another rebel commander.

Russia is fighting a renewed insurgency in the mainly Muslim regions along its southern flank, where endemic corruption and abject poverty has helped drive many youths into the hands of the rebels.

Last month the Chechen rebels attacked a hydroelectric plant in the North Caucasus republic of Kabardino-Balkaria, signalling a change in their tactics and making good on their pledge made long ago to attack Russia's economic targets.

 Source: Agencies

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Cluster bomb ban comes into effect



UPDATED ON:
Sunday, August 01, 2010
15:33 Mecca time, 12:33 GMT


The treaty prohibits signatories from using,
producing and stockpiling the weapons [AFP]

A global treaty banning cluster munitions has gone into force.

The Convention on Cluster Munitions, which became binding international law on Sunday, prohibits the use, production and stockpiling of the weapon, which is blamed for killing and maiming tens of thousands of civilians.

Thomas Nash, from the Cluster Munition Coalition, a network of 200 civil society organisations, hailed the ban.

"This is the most significant piece of international humanitarian law to enter into force since the land mine ban 10 years ago. From this moment on, countries have a legal obligation to assist the victims," the Reuters news agency quoted him as saying.

The treaty requires signatories to destroy stockpiled cluster munitions within eight years, clear contaminated areas within 10 years and help affected communities and survivors.

The Convention on Cluster Bombs was first adopted in May 2008 and ratified by 37 states including Britain, France, Germany and Japan, which all have significant stocks.

Deadly 'toys'

Cluster bombs are dropped from planes or fired by mortars before the canisters open mid-air, releasing bomblets that scatter over a wide area. Most explode immediately, but those that fail to detonate on impact can claim victims many years after the end of the conflict.


Unexploded landmines pose a humanitarian and financial hazard in Egypt

More than two dozen countries have been affected by cluster bombs and activists say three out of five casualties occur during day-to-day activities.

Most of the victims are children and some are killed when they mistake the bomblets for toys.

The United Nations estimates almost half of all casualties are from Laos, where people are still at risk of being injured from unexploded bomblets.

Between 1964 and 1973, at the height of Vietnam War, the US military dropped more than 2 million tons of explosive ordnance, including an estimated 260 million cluster munitions, mainly to disrupt enemy supply lines that passed through Laos.

It is thought that around 30 per cent of bomblets failed to explode on impact, and over two-thirds of the country is still contaminated. Experts say they kill or injure about 300 people a year.

Significant stocks

Countries that have signed the treaty into law include the UK, France, Germany and Japan, all of which have significant stocks of the weapon.

But the Cluster Munition Coalition said it needs to persuade more states to sign.

The United States, the world's largest producer with the biggest stockpile of 800 million submunitions, has refused to sign the treaty so far, although it says it will ban the weapon from 2018.

China, Russia and Israel have also stayed away and do not disclose their stocks.

Lou Maresca from the International Committee of the Red Cross told Al Jazeera: "We've often seen that the establishment of a new international humanitarian law treaty can nevertheless impact on states which are not a party to it.

"We've already seen that the existence of this treaty has helped change the practice and provoke a re-evaluation of the role of cluster munitions even in major military powers."

 Source: Al Jazeera and agencies

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Google News Alert for: Europe News


01 Aug  2010
 
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Credit card problems in Europe getting worse
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It seems that Droid X, which will be marketed under the Milestone brand in the Europe, will hit some European markets very soon. There are also reports the ...
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British anti-Taliban push going well: London


Sunday, 01 Aug, 2010

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In this undated handout photo from the MOD made available on Saturday, July, 31, 2010, unidentified British troops take part in Operation Tor Shezada, meaning Black Prince in Pashtu, a mission attempting to clear known insurgents from Sayedebad, Central Helmand, Afghanistan. - Photo by AP.

LONDON: Britain said a military operation to clear out Taliban fighters from a stronghold in southern Afghanistan was going “very well”, as the push entered its third day Sunday.

Hundreds of British troops are involved in Operation Tor Shezada, or “Black Prince”, alongside Afghan colleagues around Sayedebad in central Helmand Province, where the Taliban insurgency is strong.

The operation began in darkness Friday with soldiers being dropped in from helicopters.

“Operation Tor Shezada is progressing very well,” a Ministry of Defence spokesman said.

“Quantities of improvised explosive devices have been recovered and shuras (meetings) have been held with village chiefs in an attempt to offer reassurance.”The troops, spearheaded by 1st Battalion, The Duke of Lancaster's Regiment, have moved in to clear compounds and establish patrol bases in the area.

No casualties have been reported so far and there has been only limited contact with Taliban militants.

Major Simon Ridgway, of 1st Battalion, Duke of Lancaster's Regiment, said British and Afghan forces had faced limited small-arms fire in the initial stages of the operation.

“What we need to do is to remove their ability to operate. The key thing is their access to weapons, to ammunition, to improvised explosive devices,” he told BBC radio.

“By securing and dominating the area, we reduce the freedom of movement for the insurgent and then, together with the local people -- by convincing them that their future will be better under their own local government -- collectively we can establish security that stops the insurgent having the ability to influence and intimidate the local people.” Sayedebad has a small community of around 6,000 Afghans. – AFP



Tags: british troops britain afghanistan taliban black prince


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Fires extend grip in western Russia



UPDATED ON:
Saturday, July 31, 2010
16:30 Mecca time, 13:30 GMT


More than 10,000 firefighters are among the almost 250,000 people fighting the fires [AFP]

At least 28 people have been killed by raging forest fires across parts of western Russia, engulfing 30 per cent more territory in just 24 hours, officials have said.

But the officials said the fires, which have wiped out villages and vast areas of woodland, had been brought under control as evacuations continued on Saturday.

The emergencies ministry said in a website statement that "the situation with fires ... is under control" due to preventative measures being taken.

Anatoly Serdyukov, the defence minister, said all 300 of the army's fire lorries had been dispatched to help fight blazes across at least 14 of the country's 83 regions, including outside Moscow, the capital.

But state television reported that in some regions up to 20 new fires were being registered every day.

State of emergency

More than 10,000 firefighters were among the almost 250,000 people involved in tackling the fires in all, officials said.

In the industrial city of Togliatti, in central Russia, 2,000 children were evacuated from a summer camp as a state of emergency was declared, the state Itar-Tass news agency reported.

In Nizhny Novgorod, where at least 540 homes have been destroyed, villages and towns were still under threat from about 60 wildfires raging in the area, the authorities said.

A state of emergency has been declared in 14 out of Russia's 83 federal districts and 240,000 people have been deployed to fight the fires, media and officials said.

Sizzling temperatures - around 40 degrees Celsius in some areas - have parched vast areas of Russia's agricultural land.

Vladimir Putin, the prime minister, has had to cancel meetings to fly to the Nizhny Novgorod region. He ordered his government to allocate $165m to help victims.

 Source: Agencies

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Google News Alert for: Europe News


31 July  2010

Analyst: Western Sanctions against Iran Harm European Firms
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European Stocks Post Drop as US Economic Growth Is Slower Than Forecast
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Subdued US growth weighs on world markets
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In Europe, the FTSE 100 index of leading British shares was down 54.40 points, or 1 percent, at 5259.55 while Germany's DAX fell 65.83 points, ...
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Euro zone trusts dark days are over
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Growth in Europe's services and manufacturing industries has accelerated this month and Peter Loescher, the chief executive of Siemens, said he saw a “clear ...
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Dozens die as Russian fires spread



UPDATED ON:
Friday, July 30, 2010
23:14 Mecca time, 20:14 GMT


Putin has urged local officials to step up operations to defeat the fires [EPA]

Vast sections of Russia are under a state of emergency as more than 10,000 firefighters fight to save villages and forests from being reduced to ash and ember during the country's hottest summer on record.

At least 25 deaths have been reported in the last two days alone and the Kremlin has called out the army to help as fires raged over 214,136 acres (87,000 hectares) of woodland and peat bog.

More than 1,000 homes have been destroyed and thousands of people have been forced to flee as blazes left their houses in smouldering ruins and filled the air with smog and ash.

Officials have declared a state of emergency in 27 of Russia's 83 regions, with the hardest-hit being the Moscow region, which does not include the city itself, and other areas south and east of the capital.

Putin appeal

Weeping women greeted Vladimir Putin, the prime minister, as he visited Verkhnyaya Vereya, a village where all 341 homes were burned to the ground and five residents were killed in the blaze.

The village, one of three hamlets destroyed around Nizhny Novgorod, Russia's fifth-largest city some 475km east of Moscow, looked like a ghost town coated in gray ash.

"Before winter, each house will be restored," Putin told the distressed crowd. "I promise the village will be rebuilt."

One sobbing woman thanked him for his "serious talk" and promises of $6,500 in compensation for each villager as Putin kissed her on the cheek.

In all nearly 2.5 million acres (one million hectares) of land have been consumed by wildfires so far this season.

During his tour, Putin urged local officials to step up operations to defeat the fires and asked Dmitry Medvedev, the president, to send troops in to help.

Television showed Putin in a birch forest calling Medvedev on a mobile phone, then switched to footage of the president taking the call and promising to mobilise the army.

Fires have all but encircled Voronezh, a city of 850,000 people located 475km south of Moscow.

Streets were filled with smog on Friday and a giant wall of rising black smoke could be seen on the horizon.

Global warming

Weather experts say as global warming intensifies, Russians unaccustomed to such sweltering heat should brace for more summers like this.

Temperatures hit 37.8 Celsius in Moscow on Thursday, setting a new record, and July was the hottest month ever recorded in Russia.

"In 130 years of daily weather monitoring in Moscow, there has never been such a hot summer," said Alexei Lyakhov, director of Moscow's Meteorological Service.

"This is not normal weather, this has never happened."

The agriculture ministry said about 9.6 million hectares (24 million acres) of grain crops, an area the size of Kentucky, have been destroyed by the heat wave.

More than 900 patients had to be hurriedly transferred out of a Voronezh hospital on Thursday and nearly 2,000 children were evacuated from 12 summer camps in the path of the flames.

Firefighters poured water on the forests from the air to try to contain the inferno.

Forest fires reached Moscow's western fringe but were extinguished late on Thursday.

Cooler air from the west brought some respite from the heat on Friday and cleared a potentially dangerous smog cloud caused by peat bogs burning east and south of the capital.

Lyakhov said the temperatures for July are eight degrees Celsius higher than normal, adding that the heat appeared to be evidence of global warming.

"For the last few years the winters have been warm, so now perhaps a period of hot summers is starting," he said.

 Source: Agencies

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News Europe

Italian speaker refuses to resign





UPDATED ON:
Friday, July 30, 2010
22:02 Mecca time, 19:02 GMT


Berlusconi, left, has accused Fini of being a traitor and bringing a 'slow death' to his party [AFP]

The speaker of Italy's lower house and former ally of Silvio Berlusconi, the prime minister, has refused to step down after being censured by his own party.

Gianfranco Fini, who jointly founded the ruling People of Freedom Party (PDL) with Berlusconi, was effectively booted out of the party on Thursday after being accused of dissent.

"Obviously I have no intention of resigning," Fini told a news conference on Friday.

Accusing Berlusconi of ignorance of Italy's democratic constitution, he said his supporters could vote against the government of his former ally, raising the possibility of early elections.

Fini described Berlusconi as "having not exactly a liberal concept of democracy" and trying to run a government as an autocratic chief executive, "which has nothing to do with our democratic institutions".

Standing behind the 58-year-old Fini were several parliamentarians who have agreed to join him in his party rebellion, calling their faction the Freedom and Future for Italy.

A parliamentary official later said they had 33 members in the lower house plus Fini, enabling them to deprive Berlusconi of a majority there.

They have 10 supporters in the Senate, which could reduce Berlusconi's majority there to two votes.

Rebellious parliamentarians 

Fini said his fellow rebels would "loyally support the government every time it acts within the framework of the electoral programme, but will not hesitate to fight proposals that are unfair or damaging to the wider interest".

He did not mention the risk of early elections, which commentators said were now a real possibility.

In a tense string of events that climaxed on Thursday night, Berlusconi accused Fini of being a traitor and conspirator and trying to inflict a "slow death" to their party.

After months of tension and even open hostility between the estranged conservatives, Berlusconi's party issued a tough document censuring Fini, saying his actions and comments no longer reflected the ideals of the party he helped found.

The coalition, made up of the PDL and the Northern League, needs a majority of 316 in the lower house.

Before the split, it could count on up to 344 votes, including 14 from smaller parties who decide votes on an ad hoc basis.

But the new numbers could leave Berlusconi prey to the whims of tiny parties or even demands from the Northern League, which caused the collapse of his first government in 1994.

The situation caused by the de facto implosion of the centre-right is unprecedented, with no institutional guidelines on the sequence of steps over the next few days or weeks.

Fomer Fascist

Fini, a former neo-Fascist, dissolved his own National Alliance party to merge it with Berlusconi's Forza Italia in 2009 after nearly 14 years of supporting him in three previous governments.

He has enraged the prime minister by hammering away at the theme of morality and legality in government, and insisting that officials implicated in judicial investigations should resign.

Commentators said if the political situation becomes untenable, Giorgio Napolitano, the president, could appoint an interim government to run business until new elections.

Such an administration was headed by Lamberto Dini, a former finance minister, in 1995 after the collapse of Berlusconi's first government.

The censure document, which was signed by all but three of the 36 members of the presidency of the PDL, rebuked Fini for positions it said were incompatible with the party line.

At his news conference, Fini listed the charges against him like a defendant in the dock and defiantly rejected each one.

Pier Luigi Bersani, the leader of the biggest opposition group, the centre-left Democratic Party, said Berlusconi should admit that his government was in a deep crisis and that the prime minister should address parliament.

 Source: Agencies

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'Poison mail' scare at US embassy




UPDATED ON:
Friday, July 30, 2010
15:31 Mecca time, 12:31 GMT

The suspected poisoning occurred after staff
opened a mail  [AP]

At least two employees of the US embassy in Paris, the French capital, are being treated for suspected poisoning after opening mail, it has been reported. 

Paul Patin, a spokesman for the US embassy, told reporters at the scene that a number of staff had been taken for medical check-ups on Friday after receiving a "suspicious" letter, but gave no further information. 

"We don't know if it was poison. We don't have any confirmation that they were hurt," he said.

Patin added that the letter was being analysed by chemical experts, but did not say where the correspondence came from.

Preliminary test results have indicated that the envelope was not harmful, an embassy statement said.

Earlier a Paris police official told the AP news agency that two members of staff were feeling "unwell" after opening mail and that an investigation was under way.

Other reports suggested three staff may have been involved.

 Source: Agencies

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30 July  2010

European Inflation Jumps to 20-Month High, Jobless Holds at 10%
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Italy passes austerity measures



UPDATED ON:
Friday, July 30, 2010
00:06 Mecca time, 21:06 GMT


The measures were a vote of confidence for Silvio Berlusconi's government [AFP]

The Italian parliament has approved an austerity package worth more than $32bn, aimed at cutting the country's budget deficit and reassuring financial markets.

The lower house of parliament approved the measures on Thursday after they had already passed through the senate two weeks ago and a confidence motion on Wednesday.

Sponsored by the government of Silvio Berlusconi, the prime minister, the package passed by a vote 321 to 270 votes, with four abstentions. 

The cuts aim to bring Italy's budget deficit under three per cent by 2010 from 5.3 per cent in 2009.

The measures include a three-year salary freeze for public workers, a 10 per cent cut in ministry budgets, less funding for local government and more action to combat tax evasion, among other measures.

Supporters say the moves are necessary to keep market turmoil affecting Greece, Portugal and Spain from spreading to Italy, amid Europe's worsening debt crisis.

'Package necessary'

"The approval of the package was necessary," Berlusconi said at a news conference on Wednesday.

"If it was not approved, international speculation would have been unleashed on our country, creating a situation not like that of Greece but still bloody and dangerous."

Italy's largest union staged strikes over the measures, as did magistrates, doctors and diplomats, although the protests have been minor compared with those in Greece. 

While unpopular with much of the population, the austerity package has won praise from European Union officials and the International Monetary Fund (IMF).

In what could be considered a sign of the times, Italian officials are seeking to raise $32m in private money to restore one of the country's historic landmarks: the Colosseum.

The culture ministry says the government will accept sponsors seeking to "promote their image" on the iconic structure but any advertisements will have to be compatible with the decorum of the 2,000-year-old arena. 

 Source: Agencies

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Pakistan slams UK 'terror' remark



UPDATED ON:
Thursday, July 29, 2010
14:54 Mecca time, 11:54 GMT

Cameron is visiting India in an attempt to strengthen
bilateral trade [Reuters]

Pakistan has strongly criticised David Cameron, the British prime minister, for his remark that Islamabad should not "promote the export of terror".

Abdul Basit, a foreign ministry spokesman, on Thursday said Cameron seemed to have based his comments on leaked US documents, which he called "biased and self-serving".

"We are obviously disappointed at these comments because these are not coming from any original source, rather biased sources and I would say not even raw intelligencebut disinformation against Pakistan," he told Al Jazeera.

On a visit to India, Cameron on Wednesday said Pakistan should know "that it is not right to have any relationship with groups that are promoting terror".

He said: "We cannot tolerate in any sense the idea that this country [Pakistan] is allowed to look both ways and is able, in any way, to promote the export of terror, whether to India or whether to Afghanistan or anywhere else in the world."

Though his comments were likely to be welcomed in India, which often accuses Islamabad of harbouring armed groups, Pakistan's reaction has been quick and angry.

'ISI role'

Basit strongly denied any Pakistani links with terror groups and defended Islamabad's role.

"Britain knows full well as to how Pakistan, particularly the ISI [the Pakistani intelligence service] has been extending help and assistance to Britain in thwarting so many terrorist plots in Britain.

"They know the effectiveness of the ISI and our constructive and positive role in Afghanistan so we do not find any reason whatsoever for such remarks."

"The ISI has been extending help and assistance to Britain in thwarting so many terrorist plots."

Write the name of the speaker here

Earlier, Wajid Shamsul Hasan, Pakistan's high commissioner in London, told Al Jazeera that he had received hundreds of calls from Pakistanis, who offered "a very sharp reaction" to Cameron's comments.

"I think Cameron will review his statement, clarify his position, because we need to be supported not criticised for what we are doing," Hasan said.

He also refuted renewed criticism of Pakistani intelligence servicesover its alleged ties to Taliban, following revelations by Wikileaks, the whistle blower website.

The site leaked US government documentssuggesting links between Pakistan's security services, the Taliban and other groups operating in Afghanistan.

"ISI was one of the conduits used by the CIA and other agencies to raise these Taliban, these mujahidin, to fight the Soviets in Afghanistan. Only [the] ISI can't be blamed for it," he said.  

Bilateral ties

Cameron's comments came during a two-day visit to India, which is aimed at improving bilateral trade between London and New Delhi.

He was meeting Manmohan Singh, the Indian prime minister, on Thursday.

Rahul Roy-Chaudhury, a South Asia expert for the International Institute for Strategic Studies in London, said Cameron's comments in India were made "to please the host nation".

"He's very keen to boost the bilateral ties and it's very clear that this can't only take place on the base of trade and economic issues but needs a security dimension," he told Al Jazeera.

"It is significant that he has made these remarks on Pakistan in India during a state visit as opposed to making them in London.

"But they still don't go far enough in terms of the Indian government's perspective. After all he has not talked about any complicity of elements of the Pakistani government in terrorism, an allegation that India strongly supports."

Cameron is scheduled to meet Asif Ali Zardari, the Pakistani president, in Britain next week.

 Source: Al Jazeera and agencies

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29 July  2010

GLOBAL MARKETS: European Stocks Maintain Solid Gains
Wall Street Journal
By Andrea Tryphonides & Ishaq Siddiqi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European stocks maintained solid gains Thursday, after well-received ...
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European Shares seen higher; focus on charts
Reuters
LONDON (Reuters) - European stock index futures pointed to slightly firmer start for equities on Thursday, but investors are expected to stay cautious ...
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Bank of America, Santander Sell Debt as Investors in Europe Favor Lenders
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The extra yield investors demand to own European financial bonds over government debt dropped 13 basis points to 220 since results were released July 23, ...
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Stocks Rise as Europe's Economy Improves; US Futures Gain, Euro Rallies
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Wheat Resumes Rally as Drought in Russia, Europe Pushes Buyers Toward U.S.
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Euro Advances Against Dollar and Yen on Concern U.S. Economy is Slowing
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Nvidia Lowers Quarterly Sales Forecast on Slumping Demand in China, Europe
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After crisis, firms fuel spark of European optimism
Reuters
By Brian Love, European Economics Correspondent PARIS, July 29 (Reuters) - A string of Europe's largest firms issued surprisingly upbeat profit reports on ...
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BAE Targets Brazil, Civil Sales as UK Shrinks Defense Budget
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28 July  2010

Banks lead European shares up in early trade
Reuters
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European Stocks Rise to 12-Week High; Air France, LVMH Up
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FOREX-Euro firm on risk demand but lacks momentum
Reuters
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MARKET COMMENT: European Stocks Rise, Led By Financial Sector
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Europe tightens the world's pincers on Iran with new sanctions
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Most European Stocks Fall, US Futures Fluctuate; Copper Gains
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By Stephen Kirkland July 28 (Bloomberg) -- Most stocks in Europe declined on concern the economic recovery may be flagging, while US index futures swung ...
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European Stocks End Higher On Relief Over Bank Regulation
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Summary Box: Gold drops as European worries wane
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GLOBAL MARKETS: European Stocks Lower; Investors Consolidate
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27 July  2010


IBM facing antitrust investigation in Europe
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Asia stocks mixed ahead of earnings; Europe gains
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Europe Imposes New Sanctions on Iran
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Business as Usual for the Euro
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Still, the tests are over, Europe's banks should live to see another day, and economic data seem set to trump the somewhat volatile forces of sentiment off ...
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Oil Trades Near 11-Week High; Goldman Says Crude Too Cheap
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Brent crude for September settlement traded at $77.72 a barrel, up 22 cents, on London's ICE Futures Europe exchange. Futures rose as high as $79.60 a ...
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Upbeat German news lifts European markets
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Corporate Bond Risk Declines in Europe, Credit-Default Swap Prices Show
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By Abigail Moses - Tue Jul 27 07:08:09 UTC 2010 The cost of insuring against losses on European corporate bonds fell for a sixth day, according to traders ...
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Europe Banks Seen Raising Significant Capital: Survey
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Dow and Nasdaq Reach High Points for the Year
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But the results drew a tepid reaction on Monday in Europe. “Never has so much been written on so little, it seems,” Alastair Whitfield, an analyst at RBC ...
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UK’s Cameron in India on mission to woo old ally


10:31 AM PST | Tue, 27 Jul, 2010 | Sha'aban 14, 1431

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During visits to Bangalore and New Dehli, Cameron will hold talks with leading legislators, seal a round of trade deals and clink glasses with dozens of potential investors. –Photo by Reuters

LONDON: Seeking to win a key ally outside Washington and a booming business partner to spur Britain’s fragile economic recovery, David Cameron heads to India on Tuesday to lead his country’s most brazen charm offensive in decades.

The prime minister is taking a 90-strong delegation for three days of summits and schmoozing, aimed at revitalizing relations between New Delhi and its former colonial ruler.

Five government ministers, about 50 leaders of some of Britain’s largest companies, Olympic gold medalists and a host of academics will join Cameron in a rare — and hardly subtle — attempt at political courtship.

Britain’s new government has placed India at the heart of its strategy on foreign relations, seeking increased trade with emerging economies to fuel British growth, and new political alliances to preserve London’s clout on the world stage.

‘‘This delegation is unprecedented in its scale and ambition,’’ said Jo Johnson, a Conservative Party lawmaker who previously lived in New Dehli and is joining the trip. ‘‘The government has made a very clear statement of intent, that India is rising to the top of Britain’s diplomatic priorities.’’

In his first legislative program, Cameron signaled Britain’s plan to woo its neglected partner, pledging to craft a ‘‘new special relationship’’ with India. The phrasing is important: In Britain, the term ‘‘special relationship’’ has long referred to the close ties between London and Washington.

During visits to Bangalore and New Dehli, Cameron will hold talks with leading legislators, seal a round of trade deals and clink glasses with dozens of potential investors. Treasury chief George Osborne will take British executives to Mumbai for face-to-face talks with their Indian counterparts, aimed at kick-starting sluggish trade.

Britain was the 5th largest exporter to India in 2005, but has since fallen to 18th. Exports to India dropped from 4.12 billion pounds in 2008 to 2.9 billion in 2009.

‘‘There is a belief that we haven’t benefited as much from India’s growth as we should have,’’ said Johnson.

After a decade of foreign policy dominated by wars in Afghanistan and Iraq, Cameron’s government pledged to rebuild relations left ‘‘to wither or stagnate,’’ as London focused on military missions rather than trade.

‘‘From now on we will not neglect the wider world,’’ Foreign Secretary William Hague, who will also travel to India, said in a major speech last month, criticizing former Prime Minister Gordon Brown’s regime.

Cameron will arrive in India from Turkey, another emerging nation identified is a key future ally and potential trading partner.

His Conservative Party and the smaller Liberal Democrats formed a coalition to oust Brown’s Labour Party following an inconclusive national election in May.

They found links with India had been dented after a 2009 visit by then-Foreign Secretary David Miliband, who offended his hosts by linking the Kashmir dispute to the 2008 Mumbai terror attacks. Miliband’s informal style also bristled with senior Indian officials.

India’s opposition BJP said at the time ‘‘there has been no bigger disaster than David Miliband’s visit’’ in relations with an ally.

Cameron’s schedule has an eye on repairing the damage.

Aside from lengthy talks with Indian Prime Minister Manmohan Singh, he’ll hold meetings with Indian President Pratibha Patil, Vice President Hamid Ansari, external affairs minister S.M. Krishna and lay a wreath in honor of Mohandas Gandhi.

Lalit Mansingh, a former diplomat and India’s ex-High Commissioner to Britain acknowledged Cameron’s team has work to do.

When Tony Blair took office in 1997 there were hopes ‘‘there would be new dynamism in the relationship, but unfortunately in the last few years it has remained somewhat stagnant,’’ Mansingh said.

Mansingh said Cameron’s visit, which comes a week after his first trip to the White House, marks a ‘‘promising new beginning.’’

‘‘He’s coming with a large trade delegation and I think half of his Cabinet, so it does send a good signal, a strong signal that Britain wants a special relationship with India and I think we should all look forward to that,’’ he said.

Still, Cameron has some thorny issues to address.

He’ll need to explain the impact of Britain’s planned immigration cap, which will cut the number of people from outside Europe who are able to live and work in the UK from next April. India’s commerce and industry minister Anand Sharma has already warned the quota will likely hit Indian doctors, nurses and engineers seeking employment in the UK.

British ministers must also discuss a review of aid spending which is likely to see the UK cut the 300 million pounds it offers India each year, despite an overall rise in the development budget. —AP



Tags: Britain-India David Cameron

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26 July  2010

European Stocks Flat in First Session After Stress Tests
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By MATTHEW SALTMARSH PARIS — Banking stocks in Europe were slightly higher Monday as investors gave a cautious response to the results of the stress tests ...
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Japan's Stocks Rise After Europe's Stress Tests End, Yen Falls
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Reckitt Maintains Annual Targets as European Revenue Declines
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European stocks edge lower, but banking sector gains
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European shares edge lower in early trade
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Japan Export Growth Slows; Yen Rise May Hurt Ahead
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Al-Qaeda says Frenchman killed after failed rescue bid


Monday, 26 Jul, 2010
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This handout picture released on July 23, 2010 by the city of Marcoussis, south of Paris, shows French Enmilal aid group member Michel Germaneau, in 2007. —AFP Photo

PARIS: French President Nicolas Sarkozy convened a crisis meeting Monday after an Al-Qaeda affiliate in the Sahara said it had killed a 78-year-old French hostage to avenge a deadly but failed rescue raid.

French authorities said they were trying to verify the claim, made by the head of Al-Qaeda in the Islamic Maghreb (AQIM) in an audio statement broadcast by Al-Jazeera.

“We announce that we executed the French hostage Michel Germaneau on Saturday July 24, 2010, to avenge the killing of our six brothers in the cowardly French raid,” on Thursday, AQIM chief Abu Musab Abdul Wadud said.

“Sarkozy failed to free his compatriot in this operation but he has, without any doubt, opened for his people and for his country one of the gates of hell,” Wadud warned.

“In a rapid and just response to the ignoble actions of France, we announce that we have executed the French hostage.”

The emergency meeting at 9:00 am would include Prime Minister Francois Fillon, Interior Minister Brice Hortefeux, Foreign Minister Bernard Kouchner and Defence Minister Herve Morin, the president’s office announced.

The French presidency said it had received “no confirmation” of the killing of Germaneau, who was kidnapped in northern Niger on April 19, adding that it was trying to verify the claim.

But a senior French official who asked not to be named told AFP Sunday that Paris was convinced that Germaneau had “been dead for several weeks.”

On May 14, his abductors issued a photo of an exhausted-looking Germaneau, together with a taped message in which he appealed to Sarkozy to work for his release.

He said he suffered from a serious heart illness and had no more medication and that he was struggling with the heat.

Germaneau’s Algerian driver, who was also abducted, was later released. He said the Frenchman was being held in a desert zone in Mali.

AQIM on July 11 gave France a 15-day deadline to help secure the release of its members in the region, warning that Germaneau would be killed if Paris failed to comply.

The looming deadline saw between 20 and 30 French soldiers involved in a raid Thursday on a remote camp in the Malian desert by Mauritanian forces.

Six members of AQIM, an offshoot of Osama bin Laden’s network, were killed in the operation, officials have said.

Documents, bomb-making equipment, guns and ammunition were found during the pre-dawn assault but soldiers found no evidence that Germaneau had been held there.

Earlier on Sunday, Mali security sources expressed growing fears for Germaneau’s fate after the failed raid and the mayor of the Paris region where he lived said he believed the hostage’s chances of survival were slim.

“Either Michel Germaneau has been executed, or the terrorists are about to do it,” Olivier Thomas, the mayor of Marcoussis, told AFP.

Germaneau was working with the Enmilal aid agency to improve health services and schools at the time of his kidnap.

France has said it had received no direct demands from Germaneau’s kidnappers but was taking their reported threat to kill him seriously.

AQIM is also holding two Spaniards in the region after kidnapping them more than seven months ago: Albert Vilalta, 35, and 50-year-old Roque Pascual.

France had “consulted” Spain over Thursday’s operation, said a French defence ministry source.

The raid had prompted “anxiety” in Madrid over how it might affect the Spanish hostages, according to Spanish media reports.

AQIM has also been held responsible for the murder of British hostage Edwin Dyer, 60, who was kidnapped by extremists in the Sahel region bordering the Sahara desert in January 2009.

Malian authorities blamed that killing on AQIM cell leader Abou Zeid, also known as Abib Hammadou, a 43-year-old Algerian who is listed on United Nations documents as a known Al-Qaeda member. —AFP



Tags: Michel Germaneau Al-Qaeda in the Islamic Maghreb AQIM French hostage Niger


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25 July  2010

European Banking Stress Test Features Mild 'Adverse Scenario'
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« The extremist mindset A Vuvuzela-ic start »

The anti-Islam vote in the Netherlands elections

POSTED HERE ON 25 JULY 2010

The anti-Islam vote in the Netherlands elections

The enormous success of the right wing anti-Islam party in the recent elections in the Netherlands indicates a widespread schism within the Dutch and wider European societies where the presence of the Muslims as equal participants of society is disputed.

“Stop migration from the Muslim countries! Block the building of mosques or Muslim schools! Stop subsidising the multicultural programs,” were prominent slogans of Geert Wilders, head of Freedom Party (PVV) during the election campaign in the Netherlands. His party obtained 1.5 million votes and increased its number of seats from 9 to 24 in the parliament. It is probable that the PVV may enter into a coalition with the mainstream liberal party VVD to form a government. This can lead to an extremely xenophobic and an anti-Muslim government in western Europe.

The anti-migrant propaganda of Wilders appealed to certain quarters within the Dutch society. The old working-class neighborhoods that traditionally supported the Labor and Socialist parties got disillusioned with the presumed ‘elitist’ attitude of these parties. With increasing unemployment, economic downfall, changing neighborhood demographics – with more migrants, caused a feeling of isolation among these groups (“this is not my street” is a complaint heard often). The migrants are easy targets of such socio-economic isolation. Add to this the fast integration of Europe that increased distance between the people and decision-makers, thus ‘evaporating our national symbols’, as neo-nationalist like Wilders will argue for.

The traditional polarisation of the Dutch political scene further added to the election win of the PVV. Wilders chided the traditional political parties for ignoring the worries of ‘common man’ on burning issues of migration, criminality and security. Afraid of loosing their vote bank the other political parties, the traditional parties did not present a clear opposition to Wilders’ accusations. In the process they lost to Wilders’ sentimental political ploy on such issues.

The success of parties like the PVV is a dangerous development with respect to the future of democratic values in Europe. Wilders’ party does not follow the rules of a traditional political party: it does not have a membership or party hierarchy or hold any party elections. In this sense it is mere a ‘movement’. Wilders successfully avoided any questions about bringing democracy within his own party. For the PVV, Wilders is a party ideologue, he formulated his party’s election program, chose the candidates and acts as the main media person of the party. An acceptance of such one-man demagogy within the Dutch political system shows an approval of certain undemocratic tendencies within a society that projects itself as a tolerant one.

This is even clearer if we look at Wilders’ ideas and his political program. In the past he advocated to “ban the Quran” and he likes to declare “Islam as a fascist ideology.”  Such a theme is also reflected in the film ‘fitna‘ that he produced about the negative aspects of Islam. In his election campaign he asked for banning migration from the Muslim countries, and deporting the ‘criminal’ Muslims to the country of their origin. His anti-Islam program is based on the notion that European civilisation is founded on ‘Jewish-Christian tradition’ thus denying any role of the Muslims in the recent history of the country. Moreover he even asked for ‘ethnic registration’ of non-white population thus importing the kind of practices that the Nazi-German applied to its subjects.

Even more worrying is that Wilders’ political agenda was received without a broader outrage within the Dutch public space. It indicates a clear indifference, if not an implicit support, within the broader public space about Wilders’ program. The political win of the PVV nonetheless present a dangerous tendency within the Dutch society where the majority of voters elected a group that tries to usurp the democratic rights of a minority.

The win of Wilders in the Netherlands cannot be seen without taking into account the broader debate about Islam and Muslims in the European countries. Whether it is debate about banning of hijab in public spaces in France and Belgium or the issue of height of minarets in Switzerland, Islam has become a politicised subject in Europe. These reactions to the Muslim presence however indicate non-acceptance of the emerging realities within the Dutch or European societies.

M. Amer Morgahi is an extern researcher at the VU University Amsterdam, the Netherlands. He can be reached at morgahi@yahoo.com

The views expressed by this blogger and in the following reader comments do not necessarily reflect the views and policies of the Dawn Media Group.

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24 July  2010

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Seven banks fail EU stress tests




UPDATED ON:
Saturday, July 24, 2010
00:09 Mecca time, 21:09 GMT



Seven out of 91 European banks have failed so-called "stress tests" designed to assess their ability to survive a future financial crisis, the committee of European Banking Supervisors (CEBS) has said.

The results, released on Friday, were designed to measure how European banks would withstand another economic downturn, in an attempt to reassure gittery financial markets.

Al Jazeera's economics analyst Samah El-Shahat said that "it is good news that some banks have failed, as it will reassure the market of the test's vigour".

Shares in European banks ended up on the week, before the results were announced, and the cost of insuring the debt of most European banks fell after the announcement.

Some analysts believe that the tests were not thorough enough.

Chris Rupkey, chief economist at the Bank of Tokyo/Mitsubishi in New York said that "there might be some initial disappointment leading to some selling on Monday when European markets reopen, but the market will soon get over it".

Five Spanish banks, out of the 19 that were analysed, were among those that failed the tests.

Results 'not surprising'

"It is not surprising that Spanish banks have failed" because of problems in the country's mortage market, El-Shahat said.

In depth

 

  Inside Story: Greece's financial turmoil
  Counting the Cost: Greece's debt problems
  Video: Wake-up call for Greek economy

The Spanish banks which failed were regional lenders hit particularly hard by problems in the housing market.

Hypo Real Estate, a German property and municipal funding specialist, and ATEBank of Greece, were the others to fail.

The banks were tested against a three per cent drop in GDP.

"As a result of the adverse scenario after a sovereign shock, seven banks would see their Tier 1 capital ratios fall below six per cent," the Committee of European Bank Supervisors (CEBS) said.

If the economy were to fall back into recession, the overall capital shortfall of the banks who failed would be more than $4bn.

All four major banks in France, BNP paribas, Societe Generale, Credit Agricole and BPCE passed the financial stability test for lenders "with success", Christian Noyer, governor of the Bank of France, the country's central bank, said.

Also in Portugal, despite the countries much publicised financial troubles, all four banks included in the tests passed, according to the Bank of Portugal.

The two Irish banks that were tested both passed.

The 91 banks that were tested account for about 65 per cent of the European Union's banking sector.

Resilience

The European Union's president said the test showed the "high degree of resilience" of the European banking sector.

"I see nothing stressful about this test. It's like sending the banks away for a weekend of R&R"

Stephen Pope, equity strategist

Some analysts had expected about 10 banks to fail.

But this test does not prove that European banks are stable, our correspondent said.

The EU "doesn't know what would happen during a sovereign debt default from a government," El-Shahat said.

"Europe's banks are exposed to $2.6 trillion in soverign debt. What we need to see are the balance sheets." 

The US bank stress tests, conducted last year, were more thorough, some analysts say.

"I see nothing stressful about this test. It's like sendign the banks away for a weekend of R&R," Stephen Pope, chief equity strategist at the firm Cantor Fitzgerald, said.

 Source: Al Jazeera and Agencies

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Russia reaches out to Nato alliance



UPDATED ON:
Friday, July 23, 2010
23:55 Mecca time, 20:55 GMT

The August 2008 war in Georgia damaged ties between Russia and Nato [AFP]

Russia is ready to restore military co-operation with Nato, almost two years after relations were frozen during the war with Georgia, Russia's senior general has said.

"We are ready again to seek together responses to modern challenges and threats to international security," General Nikolai Makarov said after talks with Admiral Giampaolo Di Paola, Nato's military committee chairman, in Moscow on Friday.

Nato countries, particularly the US, hope a thaw in ties could lead to greater Russian co-operation in the war in Afghanistan.

The bulk of Nato-Russian military co-operation was frozen after Russia sent troops into South Ossetia, a breakaway Georgian region populated by ethnic Russians, in August 2008.

Georgia, a US ally, considered the move Russian aggression against its territory, as did the US. Russia believed the US was meddling in its sphere of influence.

Relations between the US and Russia have improved in recent months, with Dmitry Medvedev, the Russian president, visiting Washington for a friendly meeting with Barack Obama, his American counterpart.

'Reset' in relations

Obama said he wanted to "reset" relations with Russia and those overtures seem to have gained traction in Moscow, Russia's capital.

In depth
georgia protest - image taken by Matthew Collin - AJE freelance so please credit if you use
 Nato ambitions irk Russia
 A thorny 'rose revolution'
 Timeline: Georgia
 People & Power: A forgotten country

Andres Fogh Rasmussen, Nato's secretary-general, has asked Russia for more help in Afghanistan, where the Soviet Union lost 15,000 troops fighting western-backed mujahideen insurgents before withdrawing in 1989.

Makarov, chief of Russia's armed forces general staff, said that Russia was pursuing a possible deal to supply Nato helicopters, but gave no further details.

"We are working on the question related to the helicopters as they are needed in Afghanistan. So this set of questions is at the stage of being decided," he said.

"The long-term interests of Russia and the alliance coincide in this region."

Russia had previously agreed to provide transit routes for Nato members shipping cargo and personnel into Afghanistan.

Di Paola said that in the next few months, the Nato alliance would focus on preparing a programme of joint actions with Russia for 2011.

Nato sees more scope for co-operation in logistics, such as air-to-air refuelling and heavy-lift air transport, and wants to start a programme next year to swap air traffic data. 

 Source: Agencies

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Turkey orders 102 'plotters' held



UPDATED ON:
Friday, July 23, 2010
22:01 Mecca time, 19:01 GMT


The list of names in the warrant includes Ibrahim Firtina, left, a former air force commander [AFP]

A Turkish court has ordered the arrest of more than 100 people in connection with a plot to allegedly overthrow the government.

Many of the people named in the arrest warrant have previously been detained and released.

The warrant includes the names of several retired Turkish generals, including Ibrahim Firtina, a former air force commander, and Cetin Dogan, a former army general.

"It is a black stain in legal history," Dogan said of the warrant on Friday. "Those who have smeared us will suffer the consequences."

This is the latest round of arrests in the "Balyoz" (Sledgehammer) case, which involves an alleged military coup plot drawn up in 2003, shortly after the Justice and Development Party (AKP) took power in Turkey.

Civil-military relations

Prosecutors accuse the military leaders of plotting to blow up mosques and provoke tensions with Greece in order to foment unrest and topple the government.

They are seeking 15-to-20-year jail sentences for those involved in the plot.

A total of 196 defendants will stand trial in connection with the plot. The first hearing in the case is scheduled for December 16.

The investigation is the Turkish government's strongest action to date against the country's powerful military, which has staged four coups over the last 50 years.

Many of Turkey's senior military officers are staunch secularists who worry that AKP, which has Islamist roots, will break down the traditional barrier between religion and state.

Dozens of professors, journalists and other public figures have been arrested in connection with a separate organisation, called "Ergenekon," which has been vaguely accused of plotting against the government.

 Source: Agencies

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US-UK rift over Lockerbie release



UPDATED ON:
Friday, July 23, 2010
15:50 Mecca time, 12:50 GMT


Abdelbasset al-Megrahi's release last August
sparked outrage in the US [AFP] 

The Scottish minister who released the Lockerbie bomber has refused to appear before a US senate committee to explain his decision, deepening a transatlantic rift between the US and Britain over the case.

US senators have issued formal requests for two British ministers to appear at a hearing in Washington to examine the decision making process leading up to Abdelbasset al-Megrahi's release in August last year.

But the Scottish government said on Thursday that Kenny Macaskill, the minister who made the decision, would not appear before the hearing because "full and relevant information" on the case had already been provided.

Jack Straw, the former British foreign secretary, has also been asked to attend the hearing to be quizzed over his role in agreeing to a prison transfer agreement with Libya, where al-Megrahi is from.

'Highly unusual'

The requests have prompted deep unease in Britain, where the prospect of  government ministers answering to legislators from a foreign power is being viewed with concern.

Straw has not ruled out attending the hearing, but has said he will undertake consultations before replying as it would be "highly unusual" for a former minister to appear before such a committee.

He said there were "important issues of principle here which could affect UK governments of any party and which need carefully to be considered before I come to a final view".

Al-Megrahi was released on compassionate grounds last August after being diagnosed with terminal cancer. He was believed at the time to have three months to live, but is still alive and living in Libya.

He was serving a life sentence for the murders of 270 people killed when a US airliner exploded over the Scottish town of Lockerbie.

Influence investigated

US senators are investigating whether the terms of al-Megrahi's release could have been influenced by a multimillion dollar oil deal signed between British energy company BP and the Libyan government.

Tony Hayward, the chief executive of BP, has also been asked to attend the hearing to explain BPs role in lobbying for the bomber's release. The embattled boss of the energy giant is already feeling the ire of US politicians over the Gulf of Mexico oil spill and it is unclear whether he will attend.

David Cameron, the British prime minister, attempted earlier this week to defuse growing tensions between the two countries over the release, saying that the decision had been taken by the Scottish government rather than Westminster and was "wrong".

Barack Obama, the US president, said on Tuesday that Americans were "surprised, disappointed and angered" by the release.

 Source: Al Jazeera English

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23 July  2010

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22 July  2010

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Court to rule on Kosovo statehood


UPDATED ON:
Thursday, July 22, 2010
09:42 Mecca time, 06:42 GMT


Biden and Thaci met in Washington on Wednesday on the eve of the court's verdict [AFP]

The International Court of Justice is set to issue an opinion on the legality of Kosovo's 2008 declaration of independence from Serbia.

The court's opinion, which will be announced on Thursday, is non-binding, although many of its past decisions have been respected by the governments involved.

Officials in Kosovo have said they expect the court to rule in their favour, but Hashim Thaci, Kosovo's prime minister, said there would be no "winners or losers" from the verdict.

"I expect this to be a correct decision, according to the will of Kosovo's citizens. Kosovo will respect the advisory opinion," he said.

The United Nations General Assembly requested the opinion nearly two years ago. It is scheduled for release at 3pm local time (13:00GMT).

Serbia lost control of Kosovo in 1999 following a Nato bombing campaign intended to stop the killing of ethnic Albanians. Kosovo declared independence nine years later.

Boris Tadic, the Serbian president, warned that a ruling in favour of statehood would set a dangerous precedent.

"If the International Court of Justice sets a new principle, it would trigger a process that would create several new countries and destabilise numerous regions in the world," Tadic said.

Nearly 70 countries have already recognised Kosovo as an independent state, including the United States and 22 of the 27 European Union members.

US support

Joe Biden, the US vice-president, met with Thaci on Wednesday and said that he expected the court to endorse Kosovo's independence.

In video


Tim Friend reports on Kosovo's hopes for a favourable ruling

"The vice-president reaffirmed the United States' full support for an independent, democratic, whole and multi-ethnic Kosovo," the White House said in a statement.

Serbian officials, meanwhile, have said that they want to continue negotiations on the status of Kosovo after the ICJ verdict.

Vuk Jeremic, the Serbian foreign minister, called on Wednesday for a "compromise solution on the future status of Kosovo".

But Kosovar officials have ruled out any further status negotiations with Belgrade.

Serbia considers Kosovo to be its southern-most province and the cradle of the Serb nation, but its population is predominantly ethnic Albanian.

Nato peacekeepers in Kosovo have said they do not expect any violence after the ruling is issued.

"On the field we have no indications about nervousness, about any upcoming threat," General Markus Bentler, the German commander of the Nato force in the region, said.

 Source: Agencies

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21 July  2010

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The euro had plunged to a four-year low in early June because of concerns about the debt crisis in Europe and slowing growth there. ...
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Europe stock futures signal gains on Apple results
Reuters
LONDON July 21 (Reuters) - European stock index futures pointed to gains for equities on Wednesday as investors' confidence was bolstered by strong earnings ...
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Deaths in Russia power plant attack



UPDATED ON:
Wednesday, July 21, 2010
11:15 Mecca time, 08:15 GMT


A Caucasus-based group has claimed responsibility for attacks in Moscow and elsewhere [File: AFP]

At least two people have been killed and two others wounded in an attack at a hydroelectric power plant in Russia's North Caucasus region, RusHydro, the company that runs the plant has said.

"According to preliminary information, a terrorist act was the cause of the explosion and of the fire," RusHydro said in a statement.

"Two guards died, two other people have been taken to hospital."

Wednesday's attack took place in Kabardino-Balkariya, one of the restive republics in Russia's Caucasus region, where clashes with security forces and bombings are frequent.

Adlan Kakakuyev, a spokesman for the republic's police, said two cars carrying a half-dozen assailants attacked the Baksan plant, killing two guards and wounding three others in gunfire.

The attackers then set off explosives in several parts of the 25-megawatt plant.

Local police said two of the attackers were injured, as well as two plant employees, one of whom was in a serious condition.

"The assailants mined the power plant's turbine room," police said, saying two turbines were blown up, setting the engine room on fire.

Plant halted

Local media quoted emergencies ministry workers as saying that it took almost three hours to contain the fire.

in depth

  North Caucasus: A history of violence
  Timeline: Attacks in Russia
  Videos:
  Chechen exile sees violent response
  Russia accuses Chechen female group
  Dagestan's struggle for peace
  Inside Story: Behind the Moscow bombings
  People and Power: Ingushetia- A second Chechnya?

Oleg Grekov, a regional official with the country's emergency situations ministry, confirmed that two of the power plant's turbines had been damaged.

"The third aggregate remained intact but the power plant has been halted, it is not working now," he said.

The AFP news agency reported that Vladimir Putin, the Russian prime minister, was in constant contact with Igor Sechin, his deputy in charge of the energy sector, telling him to make sure the incident did not disrupt energy flow in the region.

"There is no danger of a technological accident or catastrophe," Gennady Vykhristyuk, a regional official, said in televised remarks.

There has been no immediate word on who carried out the attack, but previous incidents in the region and across Russia have been claimed by a group calling itself the Caucasus Emirate.

At least 40 people were killed in bombings on the underground system in the Russian capital, Moscow, in March. The attack was among those claimed by the group.

Earlier this month Putin announced a new economic drive to bring prosperity to the Caucasus and end the unrest that plagues the republics.

 Source: Agencies

 



Google News Alert for: Europe News


20 July  2010


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Analysis: Hungary now Europe's austerity test case after IMF row
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Reuters
European shares fall for fifth day; banks down
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By Brian Gorman LONDON, July 20 (Reuters) - European shares extended a slide into a fifth day on Tuesday, with banks falling after a spat between Hungary ...
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Europe Offshore Wind Sector Grows 1st Half; 333 MW Installed Report
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... Management and Business Skills training to NATO staff throughout Europe. NATO selected Learning Tree International after a six month review process, ...
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Google News Alert for: Europe News


19 July  2010

 
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Still, the home appliance maker said European markets overall had stabilized and the large US market grew around 10%. "Even though there is still ...
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UK airshow expected to test economy


UPDATED ON:
Monday, July 19, 2010
13:12 Mecca time, 10:12 GMT


The Boeing 787 Dreamliner aircraft is one of the show's main attractions [AFP]

A major international airshow in Britain is expected to see a number of large orders in a sign that the economic downturn plaguing the global aviation industry could be ending.

Boeing said on Monday morning it had won a $9.1bn order from airline Emirates for 30 777 jets at the Farnborough airshow, sources told Al Jazeera.

Aviation industry sources said they expected Boeing's European rival Airbus to chalk up sales of its A320 single-aisle aircraft.

The orders are part of a tentative upswing in civil aircraft demand, driven mainly by emerging markets and low-cost carriers.

 

"I think what you're going to find this week is that both Airbus and the Boeing company will be announcing quite a number of orders," Jim Albaugh, the chief executive of Boeing Commercial Airplanes, said.

Emerging markets

Albaugh added that Boeing, the US aerospace giant, and Airbus, its European rival, could be facing increased competition from emerging markets for their smaller civilian planes.

"You've got [plane manufacturers] Comac in China, Embraer in Brazil, Bombardier in Canada, Mitsubishi in Japan and you may have somebody from Russia.

"Our assumption is that they will be successful in developing aeroplanes. The first aeroplane might not be a great one but by the time they do their second and third one they'll probably have very competitive aeroplanes in the market."

Farnborough, in southern England, hosts the massive aviation and arms jamboree every other year, rotating with Le Bourget near Paris.

The star attraction is likely to be the Boeing 787 Dreamliner, a plane now in testing and built from composites.

It arrived on Sunday, thrilling crowds of aviation enthusiasts.

Airbus will be showing off its A400M military transporter plane and attempting to draw a line under its own delays and cost overruns with a marketing ploy over the plane's name.

Analysts expect the event to be more upbeat than last year's sister show in Le Bourget, but are not expexting the record-breaking $88.7bn worth of orders
announced in Farnborough in 2008.

"A lot depends on if the economic recovery continues, if there is a double dip in the recession, then all bets are off," Raymond Jaworowski from Forecast International said.

"We should start to see orders accelerate late this year."

 Source: Agencies

 



Google News Alert for: Europe News


18 July  2010


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Nexus One: Android 2.2 Froyo Update – Vodafone Release Date Soon
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Police killing sparks French riots



UPDATED ON:
Saturday, July 17, 2010
19:58 Mecca time, 16:58 GMT


Police say the thieves fled the casino
with 20,000 to 40,000 Euro [AFP]

Riots have erupted in the French city of Grenoble after a local resident was killed in an exchange of gunfire with police.

Rioters burned cars, attacked a tram and shops and shot at police in the suburb of La Villeneuve following a memorial service for the man, who was suspected of robbing a casino in the city.

Brice Hortefeux, France's interior minister, visited the southeastern city on Saturday and vowed that order would be restored.

The violence in Grenoble recalled civil unrest that exploded across France in late 2005 after two teenagers from a Paris suburb died as they were fleeing police.

Police said they were forced to intervene early on Saturday after a tram was stopped by a group of about 30 youths armed with baseball bats and iron bars.

The gang started a fire on the rails and stoned the vehicle, forcing the passengers inside to get out.

Later dozens of cars were set alight and police used tear gas in an attempt to control the violence. At one point one of the rioters fired a shot and police returned fire, a spokesman said. 

'Hoodlums and delinquents'

"I've asked the prefect to use all means to secure the neighbourhood ... for now and for as much time as necessary for calm to return," Hortefeux said during a 15-minute visit to La Villeneuve.

"You have to realise that in this specific incident, the victim was entirely different than the kids who died as they were running from police [in 2005]"

Anne-Elisabeth Moutet,
French political journalist

"There is a simple and clear reality in this country: there's no future for hoodlums and delinquents because in the end the public authority always wins."

The trouble followed a hold-up in a casino in nearby Uriage-les-Bains by two armed men in the early hours of Friday.

As police chased the suspects, they apparently opened fire, wounding an officer.

In the ensuing shootout with police, one suspect was shot in the head while the second man fled into La Villeneuve, where police helicopters flew overhead for much of the night in an attempt to locate him.

Jean Philippe, a prosecutor, said the police had acted in self-defence when they killed Karim Boudouda, but an autopsy will be carried out on his body on Saturday.

Anne-Elisabeth Moutet, a French political journalist, said that Hortefuex's visit could have more to do with the political turmoil in the French government following allegations of illegal donations to the ruling party rather than fears of a repeat of the violence of 2005.

"I think with the minister of interior, [he] is worried that the tension might be too much with the financial scandal that is rocking France right now, and that anything could distract from it is good thing," she told Al Jazeera.

Poor suburbs

The deaths of two teenagers in 2005 touched off almost three weeks of riots across the country, often in the poor suburbs that ring France's major cities.

About 300 buildings and 10,000 cars were burned, while 130 police and rioters were hurt in the violence .

The high-rise neighbourhoods, built in the 1950s and 1960s to house a growing population of industrial workers and immigrants, suffer due to high unemployment and poor public services.

"We can say they are even more disenfranchised than their parents, because their parents came because they had jobs … these kids do not have jobs because they, one, do not have good education and two because there is discrimination," Moutet said.

"[The government] has tried to create a passageway into jobs without getting the diploma that you get if you go through the French school system. But that is not enough ... it is something that created pockets in which young people ... 40 per cent of them are unemployed."

But Moutet said it was important to note the differences between the incident in 2005 and the latest death in La Villeneuve.

"You have to realise that in this specific incident, the victim was entirely different than the kids who died as they were running from police [in 2005]," she said.

"This is an organised gang that has been robbing a number of casinos in France and Switzerland on either side of the borders, and who shot at the police with automatic weapons. So, we are talking about something slightly different." 

Police unions have raised concerns about a rise in violent crime spurred by the recession and a resurgence of drug trafficking in some areas.

"Police are at breaking point," Daniel Chomette, the regional union chief, said as he called for reinforcements.

 Source: Al Jazeera and agencies

 



Google News Alert for: Europe News


17 July  2010

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Google News Alert for: Europe News


16 July  2010

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Google News Alert for: Europe News


15 July  2010


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Google News Alert for: Europe News


14 July  2010

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Corporate Bond Risk Falls in Europe, Credit-Default Swaps Show
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French deputies pass face veil ban


UPDATED ON:
Wednesday, July 14, 2010
12:18 Mecca time, 09:18 GMT



Laurence Lee reports on France moving towards a ban on face veils

France's lower house of parliament has voted to ban the wearing of face-covering veils in public places by 336 votes to one in the 557-seat assembly.

The bill, which has received overwhelming support in opinion polls, must now be ratified by the senate in September to become law.

The opposition Socialist party, who originally wanted the ban limited only to public buildings, boycotted Tuesday's vote.

France's highest administrative body warned in March that the bill could be found to be unconstitutional and therefore thrown out.

Estelle Youssouffa, Al Jazeera's correspondent in Paris, said: "The Council of the State warned the government that the French law and the EU law could find this bill unconstitutional, as it violates human rights and religious freedom." 

'Bare face'

The bill makes it illegal to cover the face anywhere in public and those caught wearing a full veil would face fines of $190 or be ordered to enrol in a "citizenship course".

In depth

 The debate for and against the face-veil
 Readers react to France veil report
 Video: Princess Hijab's 'veiling art'

Men who force their wives or daughters to wear the full veil face a fine of up to $37,754 and a one-year jail term, according to the draft legislation.

Nicolas Sarkozy, the French president, said earlier this year that the full veil "hurts the dignity of women and is not acceptable in French society".

Life in France is "carried out with a bare face", Michele Alliot-Marie, the justice minister, said last week as she opened the debate in the National Assembly.

Face-covering veils "call into question the idea of integration, which is founded on the acceptance of the values of our society", Alliot-Marie said.

Muslim fears

The main body representing French Muslims says face-covering veils are not required by Islam and not suitable in France, but it worries that the law will stigmatise Muslims in general.

The veil is widely seen in France as a sign of extremism and an attack on women's rights and secularism, a central value of modern-day France.

Critics say the ban is a ploy to attract far-right voters.

Our correspondent said the Muslim community in France is uncomfortable with the bill and feels it is stigmatising the whole community.

"French Muslims say less than only 2,000 women use the veil and are seen as ultra-orthodox minority and do not represent the whole community," she said.

In April, politicians in Belgium's lower house voted almost unanimously to ban the wearing of face veils in public places.

 Source: Al Jazeera and agencies

Topics in this article
People

Country

Organisation

 



Google News Alert for: Europe News


13 July  2010


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French lawmakers to approve full veil ban
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PARIS — French lawmakers were poised to vote Tuesday to ban the wearing of face-covering veils in public spaces, as Europe toughens its approach to ...
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AFP
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July 13 (Bloomberg) -- European companies are preparing the most initial public offerings in two years after IPOs weathered the region's debt crisis and ...
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Google News Alert for: Europe News


12 July  2010

China Exports May Lose Pace on Europe Crisis, Yuan
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Sarkozy faces French nation on TV


UPDATED ON:
Monday, July 12, 2010
13:19 Mecca time, 10:19 GMT


Sarkozy will appear in a live television interview in the wake of a scandal involving L'Oreal heiress [EPA]

Nicolas Sarkozy, the French president, is going on national television amid a scandal involving the L'Oreal cosmetics fortune that has rocked his government.

Sarkozy will try to quell the political donations scandal on Monday night on France-2 television, which comes after his ruling UMP party lost a parliamentary seat in Sunday's by-election.

The multi-faceted scandal includes accusations by a former accountant for Liliane Bettencourt, L'Oreal's heiress, that she gave cash illegally to Sarkozy's presidential election campaign.

Sarkozy has denied the claims, which have not been proven.

Claire Thibout, the former accountant, said that she had been involved in withdrawing $200,000 in cash to be given to Eric Woerth, the country's labour minister, in unmarked envelopes as a donation to Sarkozy's 2007 election campaign.

An official investigation cleared Woerth on Sunday of abusing his position to shield France's richest woman from a tax audit, but critics said the report did not erase suspicions of a conflict of interest.

Resignation option

Woerth was treasurer of Sarkozy's 2007 presidential campaign, remains treasurer of the UMP and served as budget minister who was in charge of tax affairs, and his wife worked for Bettencourt's wealth manager.

Woerth said on Monday that he would consider resigning from his job amid the scandal.

Woerth, right, has said he would consider resigning from his labour minister post [EPA]

Sarkozy will give the rare television interview a day before Woerth presents to the cabinet a pension reform, which is unpopular with voters and unions.

Seeking to silence criticism, the government's investigation report concluded that Woerth played no role in the tax affairs of the Bettencourts, their wealth manager or family friends.

The budget ministry said inspectors had found that Woerth neither interfered with the handling of Bettencourt's tax file nor neglected to follow up evidence of possible tax evasion.

However, the report did not cover the allegations that Woerth was given an illegal donation for Sarkozy's campaign.

Police are investigating her statements, which Patrice de Maistre, the wealth manager, has denied.

Despite calls for Woerth to resign, or for Sarkozy to bring forward a cabinet reshuffle planned for October, the president seems determined to tough it out in the hope that the story will die away.

 Source: Agencies

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Al Qaeda threatens to kill French hostage in 15 days


Monday, 12 Jul, 2010
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This image distributed by IntelCenter on 13 May 2010 from al-Qaeda in the Land of the Islamic Maghreb shows French hostage Michel Germaneau who the group claimed responsibility for the kidnapping. –AFP Photo/IntelCenter/HO

LONDON: Al Qaeda’s North African wing said on Sunday it would kill a French hostage in 15 days if the French government failed to meet its demands, the US-based SITE Intelligence Group said.

Al Qaeda in the Islamic Maghreb (AQIM) said in May it was holding 78-year-old Michel Germaneau, who was seized in northern Niger in April.

It demanded a prisoner exchange and said French President Nicolas Sarkozy would be responsible for Germaneau’s life.

On Sunday it gave France 15 days starting from July 12 to respond to its demands, according to an Internet statement monitored by SITE.

“The mujahideen decided to grant a final extension to France that will not be repeated and will not exceed 15 days, starting on Monday, 12/07/2010,” the statement read, according to SITE’s translation.

“At the end of this period and the non-response to our legitimate demands, then France will have sentenced its citizen to death ...”

It said if Sarkozy did not respond, he would have committed the same “folly” as former British Prime Minister Gordon Brown.

French Foreign Ministry spokesman Bernard Valero said France was “mobilised in Paris as well as on the ground” in connection with the case.

“You will understand that the discretion that we observe is a condition of the effectiveness of our work,” Valero said in Paris.

AQIM killed British captive Edwin Dyer last year after Britain declined to give in to its demands.

Germaneau is a retired engineer who had worked in the Algerian oil sector.

AQIM released a picture and audio of Germaneau in May in which he said he had a serious medical condition, and urged Sarkozy to find a “good solution” for him.

Governments have little influence in the desert region where he was seized, where bandits, smugglers, former rebels and groups linked to Al Qaeda operate.

The militants in the Sahara have so far not been able to stage any large-scale attacks, but Western diplomats say the cash they are accumulating from a series of kidnappings of foreigners will make them a more potent threat.

Western countries say if action is not taken, Al Qaeda militants could turn the Sahara into a safe haven along the lines of Somalia or Yemen, and use it to launch attacks.

Mali, Niger, Algeria and Mauritania have opened a joint military headquarters in southern Algeria. —Reuters



Tags: Al Qaeda in the Islamic Maghreb AQIM Michel Germaneau

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Hundreds of victims of Srebrenica massacre buried


07:00 PM PST | Sun, 11 Jul, 2010 | Rajab 28, 1431


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A Bosnian woman mourns over coffins of a newly identified victim of the 1995 Srebrenica massacre during preparation for mass burial at the Potocari memorial cemetery near Srebrenica. -AFP Photo

POTOCARI: Bereaved families and survivors came to bury hundreds of victims of the Srebrenica massacre Sunday as world leaders demanded the arrest of the general whose troops killed the 8,000 Muslim males 15 years ago.

Tens of thousands of people, including European leaders, gathered near 775 green-covered coffins on the anniversary of the worst single atrocity on European soil since World War II.

“We recognise that there can be no lasting peace without justice,” US President Barack Obama said in a speech read out at the Potocari graveyard near the town of Srebrenica.

This meant the “prosecution and punishment of those who carried out the genocide,” he said. “This includes Ratko Mladic who presided over the killings and remains at large.”

Mladic, Bosnian Serb army chief during the 1992-1995 war, has been in hiding for almost 15 years and believed to be in Serbia.

He has been indicted by the International Criminal Tribunal for former Yugoslavia (ICTY) for genocide and crimes against humanity for his role in the darkest episode in the violent 1990s break-up of Yugoslavia in the 1990s.

Bosnian Security Minister Sadik Ahmetovic urged the international community “to contribute so that Ratko Mladic is brought to justice... the man who brought us our suffering. It is the least Europe could do,” Ahmetovic, himself a survivor of Srebrenica massacre, told the crowd.

Also at the commemoration were Turkish Prime Minister Recep Tayyip Erdogan, French Foreign Minister Bernard Kouchner and the presidents of all the former Yugoslavia's republics.

The ceremony was followed by the burial of the 775 recently identified victims, the youngest two boys aged 14, alongside 3,749 bodies already in the Potocari graveyard.

The victims were shot and dumped in mass graves, then reburied haphazardly in more than 70 sites in a bid to cover up the evidence. Bones exhumed by forensic experts over the past few years were reburied in Potocari after identification through DNA testing.

The Bosnian Muslim men and boys were killed in the days following the fall of the Srebrenica enclave, designated a UN safe area, to Bosnian Serb troops on July 11, 1995.

“The horror of Srebrenica was a stain on our collective conscience,” Obama's speech said, admitting the failure of international community to protect the enclave.

The victims “were people who sought to live in peace and had relied on the promise of international protection, but in the hour of greatest need they were left to fend for themselves,” Obama said.

British Prime Minister David Cameron echoed in a statement that “it was a crime that shamed Europe.”Serbian President Boris Tadic's presence at the ceremony was a sore point for many survivors with the fugitive Mladic believed to be hiding in Serbia.

“He should be ashamed to come to Potocari as long as he hasn't arrested the most wanted war criminals, Ratko Mladic and Goran Hadzic,” said Hatidza Mehmedovic, who burried husband and two sons on Sunday.

For years Belgrade denied the scale of the bloodbath but this March the Serbian parliament passed a declaration condemning the massacre and apologising to victims and their families.

It also pledged to track down and arrest Mladic. The alleged mastermind behind the Bosnian Serb campaign of ethnic cleansing and the Srebrenica killings, political leader Radovan Karadzic, has been arrested in Belgrade and is standing trial for genocide. -AFP



Tags: Srebrenica massacre genocide bosnia serbia

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Bosnia marks Srebrenica massacre


UPDATED ON:
Sunday, July 11, 2010
17:20 Mecca time, 14:20 GMT


Bodies that had been buried in mass graves were reburied during the ceremony [AFP]

Bosnians have marked 15 years since the massacre at Srebrenica, when Bosnian Serbs slaughtered almost 8,000 Muslims in Europe's worst mass killings since the Second World War.

A crowd of about 60,000 people turned out to a ceremony in the village of Potocari, 6km north-west  of Srebrenica, on Sunday, as the recently identified remains of 775 victims were laid to rest with the 3,749 already buried there.

At the special ceremony, relatives of the dead and their supporters mingled among the graves looking for the names of their loved ones, while the sounds of weeping and Muslim prayers filled the air.

The massacre occurred when Bosnian Serb troops advanced on Srebrenica, a Muslim enclave supposedly under the protection of United Nations forces.

The town's men and boys fled into the surrounding hills, but were hunted down by the troops, who shot and buried them in mass graves.

They were then dug up and reburied in more than 70 different sites, in an effort to cover up the extent of the killings.

Act of genocide

The massacre has been designated an act of genocide by the UN's war crimes court and the international court of justice. It is remembered as the darkest day in the bloody break-up of the Yugoslav federation in the 1990s.

No one represented the UN at the ceremony.

Sunday's memorial was an emotional occasion for Srebrenica, which has struggled to recover from losing two generations of men and boys in the incident.

in depth
 
  Bosnia march for Srebrenica victims
  Never forget Srebrenica
  Serbia offers Srebrenica apology
  Background: Srebrenica genocide
  Witness: Safe Haven
  Talk to Jazeera: Boris Tadic

Hatidza Mehmedovic, 68, attended the ceremony to bury her husband and two sons.

"I waited for them to return alive, I could not believe such a crime could have been committed. Today, my hope dies," she said.

"It was not only my sons, thousands of people were killed. The intent was to make sure that no Muslim would live in this place. I don't wish on any other mother to have to live through this."

Nearly 6,500 victims have been identified, but relatives of those still missing are hopeful that more bodies will be found in the dense woodland surrounding the town.

'Building bridges'

Boris Tadic, Serbia's president and the first dignitary to arrive at the ceremony, said he came in an "act of reconciliation".

Tadic said he hoped "to build bridges of friendship and understanding among nations in the region" by attending the ceremony. 

Some of the ceremony's attendees heckled the president.

Dzemaludin Latic, a Muslim political leader who attended the ceremony, told Al Jazeera that "in Bosnia, we have [Serbian] political leaders ... who do not want to apologise for this genocide".

"[But] Mr Tadic sincerely wants reconciliation", Latic said.

Serbia has for years denied the scale of the crime and many Serbs, led by nationalist politicians, believe that allegations of genocide have been exaggerated as part of an international political conspiracy against the country.

But in March, the country's parliament passed a declaration condemning the massacre and apologised to the victims and their families.

In VIDEO

Al Jazeera's Barnaby Phillips reports on a Greek  journalist who is being sued after claiming that Greeks were involved in the Srebrenica massacre

General Ratko Mladic, the alleged mastermind of the killings, is still on the run and believed to be hiding in Serbia, where many see him as a heroic figure.

The other alleged architect of the massacre, Radovan Karadzic, was arrested in Belgrade in 2008, and is currently fighting charges of genocide, war crimes and crimes against humanity at the International Criminal Tribunal for the former Yugoslavia (ICTY).

The political party that he founded, the Serbian Democratic Party, chose to honour him on Saturday with a medal, saying it was not ashamed of the past.

UN peacekeepers were heavily criticised for allowing the massacre.

The Dutch troops tasked with protecting the town did not have the equipment or mandate to do so and allowed Bosnian Serb soldiers to take Muslim men and boys away after being assured they would not be harmed.  

 Source: Al Jazeera and agencies.

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The massacre was the worst atrocity in Europe since World War II. Serbian President Boris Tadic is attending the ceremony, in what is seen as a significant ...
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US and Russia complete spy swap




UPDATED ON:
Saturday, July 10, 2010
03:40 Mecca time, 00:40 GMT

The operation in Vienna was the biggest exchange of spies since the end of the Cold War [AFP]

Russia and the United States have completed a dramatic spy swap involving 10 Russian agents arrested in the US last month and four people convicted of spying in Russia.

The Russian agents touched down at Domodedovo airport south of Moscow on Friday after having been handed over to Russian authorities at an airport in Vienna.

Later a plane carrying the four freed by Russia landed in Washington after a flight via a Royal Air Force base at Brize Norton in Oxfordshire, central England.

A US administration official said the quick and pragmatic arrangement of the spy swap underlined the progress made in US-Russian relations.

'Amazing' speed

Al Jazeera's Neave Barker, reporting from Domodedovo airport, said: "We gather that onboard the flight ... there were at least two children.

In depth

  Focus: Global powers still play spy games
  Video: Confusion over Russian spy network
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  Inside Story: The Russian spy case

"We've been told that they are likely to enter schools here, that they will be educated accordingly.

"Some, if not all of the ten, will be given apartments and regular incomes as well." 

John Rodriguez, the lawyer of Vicky Pelaez, one of the 10 agents, said the Russian government had promised her $2,000 a month for life, housing and documents to allow her children to visit Russia and have all their expenses paid.

Barack Obama, the US president, who met his Russian counterpart, Dmitry Medvedev, said after talks between the two leaders last month that they had "succeeded in resetting" the sometimes difficult relationship between the two countries.

Speaking to Al Jazeera about the spy swap, Christopher Walker, a Russia specialist, said: "I think it shows very, very positively that they are both determined that this reset button wont be disturbed.

Walker said the speed of the deal was "amazing".

"In the old days it used to take months, even years sometimes, and there were trials, and there were people going across bridges, under foggy nights ... this was virtually a spy swap in Vienna airport ... for peaktime television." 

Vienna exchange

The operation in Vienna was the biggest exchange of spies since the end of the Cold War.

Special Russian and US flights which had taken the spies to the Austrian capital took off within 15 minutes of each other.

The main doors to the two planes were hidden from media gathered at the airport hoping for a sight of those involved.

Nick Spicer, Al Jazeera's correspondent in Washington, said: "We now know that ... this was negotiated by the CIA chief and his SVR [foreign intelligence service] counterpart, that is why there was no information, this was so hush, hush.

"They orchestrated a very well choreographed handover in which they set off a plane from the United States, and sent one off from Moscow precisely so that they would arrive pretty much within minutes of each other ... at Vienna airport."

Vienna, near the old Iron Curtain frontier, was a traditional venue for espionage rivalry between the two superpowers.

The Russian foreign ministry confirmed that the exchange involved the "return to Russia of 10 Russian citizens accused in the United States, along with the simultaneous transfer to the United States of  four individuals previously condemned in Russia".

Presidential pardon

Before their deportation, the Russian agents, many of them speaking in heavy Russian accents despite having spent years posing as US citizens, pleaded guilty to conspiracy in a Manhattan, New York, courtroom on Thursday.

They were sentenced to time served and ordered out of the country.

In Russia, the Kremlin said Medvedev had signed a decree pardoning four convicted foreign spies so they could be exchanged for the 10 convicted in the US.

In video


The Russian agents deported by the US could make millions selling their stories

Among those pardoned, according to the Kremlin statement carried by Russian news agencies, was Igor Sutyagin, an arms-control expert sentenced to 14 years in prison in 2004 for spying for the US.

Natalia Timakova, Medvedev's spokeswoman, said in the statement that together with Sutyagin, Alexander Zaporozhsky, Gennady Vasilenko, Sergei Skripal - all Russian citizens - had been pardoned after admitting their guilt and submitting a plea for pardon.

Sutyagin has insisted on his innocence, saying that the information he provided to a British company that investigators said was a CIA cover, came from open sources.

His family said this week that Sutyagin said he was forced to sign a confession, although he insisted he was not guilty and does not want to leave Russia.

Skripal, a former colonel in the Russian military intelligence, was found guilty of passing state secrets to Britain and sentenced to 13 years in prison in 2006.

He was accused of revealing the names of several dozen Russian agents working in Europe.

Zaporozhsky, a former colonel in the SVR, quit the service in 1997 and settled in the US, but Russia enticed him back and arrested him in 2001.

He was sentenced in 2003 to 18 years in prison for spying for the US, convicted on charges of passing secret information about Russian agents working under cover in the US and about American sources working for Russian intelligence.

The US justice department said in a letter on Thursday that some of the four prisoners were in poor health and had served lengthy prison terms.

Obama aware

Rahm Emanuel, the White House chief of staff, told broadcaster PBS that Barack Obama, the US president, was aware of the investigation, the decision to go forward with the arrests and the spy swap with Russia.

The 10 pleaded guilty to acting as unregistered agents of a foreign country [AFP] 

Eric Holder, the US attorney-general, said the "extraordinary" case took years of work, "and the agreement we reached today provides a successful resolution for the United States and its interests".

The 10 Russian agents, captured last month in suburban homes across the US, were accused of embedding themselves in ordinary American life for more than a decade while leading double lives complete with false passports, secret code words, fake names, invisible ink and encrypted radio.

The 10 pleaded guilty to conspiracy to act as an unregistered agent of a foreign country and were ordered to be deported.

Asked to describe their crimes in court on Thursday, each of the 10 acknowledged having worked for Russia secretly, sometimes under an assumed identity, without registering as a foreign agent.

An 11th defendant has been a fugitive since fleeing authorities in Cyprus following his release on bail.

 Source: Al Jazeera and agencies

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Bosnia march for Srebrenica victims


UPDATED ON:
Friday, July 09, 2010
20:25 Mecca time, 17:25 GMT


The marchers will attend a mass burial ceremony of the Srebrenica victims on Sunday [AFP]

Over 5,000 people are on a 110km-long march along mountain paths in Bosnia to commemorate the Srebrenica massacre of nearly 8,000 Muslims by Serbs.

The marchers started from the northeast Bosnian village of Nezuk on Thursday and will walk into Srebrenica on Sunday for the ceremony
marking the 15th anniversary of the killings.

The ceremony will include the burial of 775 recently identified victims at the special memorial centre and graveyard in Potocari near Srebrenica, joining the 3,749 already there.

Bosnian Muslim men and boys were systematically killed in the days following the fall of the Srebrenica enclave, designated a UN safe area, to Bosnian Serb troops on July 11, 1995.

Tens of thousands of people are expected to attend the commemoration, including Boris Tadic, the Serbian president, Ivo Josipovic, his Croatian counterpart, and Recep Tayyip Erdogan, the Turkish prime minister.

Serbian apology

This year's commemoration of the worst single atrocity on European soil since World War II comes three months after the Serbian parliament adopted a resolution condemning the massacre and apologising to the victims.

The resolution, which ended years of denials from Belgrade about the scale of the massacre, was criticised by victims' organisations because the parliament did not use the term genocide.

The presence of Tadic at the commemoration remains a sore point for many survivors.

"It's good that he's coming, whatever his reasons, but I will ask him why he has not brought Ratko Mladic with him," Munira Subasic, who heads an organisation of Srebrenica women, said.

Mladic, the wartime commander of the Bosnian Serb military, is wanted for genocide, war crimes and crimes against humanity for his role in the Srebrenica massacre. He has been on the run for nearly 15 years and is believed to be hiding in Serbia.

Bringing to justice

Radovan Karadzic, the alleged mastermind behind the Bosnian Serb campaign of
ethnic cleansing and the Srebrenica killings, was arrested in Belgrade in 2008.

He is currently on trial for genocide before the International Criminal Tribunal for the former Yugoslavia (ICTY).

The ICTY has charged 21 people over the massacre.

On June 10 two former Bosnian Serb officers were sentenced to life in prison for their part in the massacre.

In 2004 Bosnian Serb ex-general Radislav Krstic, Mladic's right hand man who led the attack on Srebrenica, was sentenced to 35 years in prison for genocide.

Since the end of the war Bosnia has consisted of two semi-autonomous entities - the Serbs' Republika Srpska and the Muslim-Croat Federation, each with its own government.

The Republika Srpska government continues to contest the scale of the massacre, saying in April it would seek the revision of a 2004 report in which it accepted that more than 7,000 people were killed.

Milorad Dodik, the Bosnian Serb prime minister, now says the report was adopted under intense international pressure and maintains that 3,500 dead is a more likely figure.

 Source: Agencies

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France debates face veil ban



Posted here on 07 July 2010 10:35
UPDATED ON:

Tuesday, July 06, 2010
23:16 Mecca time, 20:16 GMT



French politicians are debating a controversial bill that would ban face-covering veils in public, a proposal that has sparked fierce criticism and praise.

Michele Alliot-Marie, the French justice minister presenting the bill on Tuesday, said she hoped for a "consensus," insisting the law was not exclusively aimed at Muslim women.

"The law is not about the veil, but about deliberately covering the face in any way," the newspaper Liberation quoted her as saying.

"It is not a question of religion. The republic lives with its face uncovered."

But Muslim leaders fear it will stoke tensions by stigmatising France's estimated five to six million Muslims, the biggest Islamic community in Europe.

The National Assembly lower house will hold a vote on the ban on July 13 and if passed it will then go to the senate in September.

Socialist boycott

AFP, the French news agency, said that only three deputies from the Green party have said that they will vote against the bill and that the main Socialist opposition had decided to boycott the vote 

Martine Aubry, the Socialist party leader, told deputies at a meeting that while they should not vote against the bill, they should not take part in next week's vote, a Socialist party official told AFP.

In depth

 The debate for and against the face-veil
 Readers react to France veil report
 Video: Princess Hijab's 'veiling art'

"We are against the burqa but we believe that the means chosen to outlaw it are not good," said the party official.

The proposed law would make it illegal to cover the face anywhere in public and those caught wearing a full veil would face fines of $190 or be ordered to enrol in a "citizenship course".

Men who force their wives or daughters to wear the full veil face a fine of up to $37,754 and a one-year jail term, according to the draft legislation.

Nicolas Sarkozy, the French president, said earlier this year that the full veil, such as the niqab or the burqa, "hurts the dignity of women and is not acceptable in French society".

Many feminists from France's poor, multi-ethnic suburbs have spoken out in support of a ban, saying it could help young women who did not want to wear the veil but are forced to do so by their families.

According to public polls most French voters back a ban, but legal experts have warned that it could violate the constitution.

They have warned that the broad scope of the law banning the veil in all public places instead of just in state institutions could be struck down by the constitutional court.

'Hijacking Islam'

Francois Fillon, the French prime minister, attempted to defend the move last week by inaugurating a mosque in a Paris suburb, drinking mint tea and eating dates with Muslim leaders.

Fillon said Muslims who wear face coverings were "hijacking Islam" by providing a "dark and sectarian image" of the religion that is "the opposite of the French Islam that you have contributed to build".

Fewer than 2,000 women wear the full-face veil in France, according to the interior ministry.

French politicians have said the law will also apply to tourists from the Middle East and the Gulf who are often seen fully veiled in luxury shops on the Paris boulevards.

Similar laws are pending in Belgium and Spain.

 Source: Agencies

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06 July  2010


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Clinton offers support for Georgia


UPDATED ON:
Tuesday, July 06, 2010
00:47 Mecca time, 21:47 GMT



Matthew Collin reports from Tbilisi on US efforts to reassure ex-Soviet bloc states of continued support

Hillary Clinton, the US secretary of state, has reiterated Washington's support for Georgia and criticised Russia's "occupation" of two breakaway Georgian regions during a visit to Tbilisi.

Clinton also urged Moscow to abide by a ceasefire agreement that stipulates its forces must return to positions held before the 2008 Georgia-Russia war over South Ossetia and Abkhazia.

"We continue to call for Russia to abide by the August 2008 ceasefire commitment ... including by ending the occupation and withdrawing Russian troops from South Ossetia and Abkhazia to their pre-conflict positions," she said.

Clinton made the comments in a joint news conference with Mikheil Saakashvili, the Georgian president, during the final stop of a regional tour aimed at promoting democracy and strengthening US ties in the region.

Democratic reforms

Clinton also called on Saakashvili to strengthen the country's democratic institutions.

She urged further reforms in Georgia, saying a vibrant democracy and economy were vital for Georgia to regain control of the breakaway regions.

"The more vibrant, effective a democracy and economy Georgia becomes, a greater contrast there will be between South Ossetia and Abkhazia and the rest of Georgia," Clinton said.

In depth
georgia protest - image taken by Matthew Collin - AJE freelance so
 please credit if you use
 Nato ambitions irk Russia
 A thorny 'rose revolution'
 Timeline: Georgia
 People & Power: A forgotten country

US officials have repeatedly voiced support for Georgia's territorial integrity since the country's 2008 war with Russia, which saw Russian forces pour into the country to repel a Georgian military assault on Moscow-backed South Ossetia.

Saakashvili said he was encouraged that the US was continuing to stand by Georgia despite a "reset" in Washington's relations with Russia.

"With regard to reset, it's a clear-cut issue that questions were asked. There is no secret about it, of course some people were worried what it might mean," he said.

"We see it's done exactly the right way, it's a value-based policy and that's why we all love America ... ultimately if reset leads to a more modernised Russia that's only good for all of us."

After the war, Russia recognised South Ossetia and Abkhazia as independent states, a move that has been followed by only a handful of states.

Russia has since established permanent military bases and deployed hundreds of troops and border guards in the regions.

Clinton said Washington was concerned about the construction of the military bases and would not accept Russian spheres of influence.

Ex-Soviet bloc tour

Clinton began her ex-Soviet bloc tour on Thursday in Ukraine, and went on to visit Poland, Azerbaijan and Armenia.

Her visit to Azerbaijan on Sunday was seen as a fence-mending mission to ease a strained relationship with the country, which had been bereft of a US ambassador for more than a year.

She appealed to Armenia and Azerbaijan for a peaceful resolution of a long-running territorial dispute between the neighbouring ex-Soviet states, telling leaders of both countries to act quickly towards settling the dispute.

The Nagorno-Karabakh dispute has caused problems in the diplomatic relations of several countries since a 1994 ceasefire ended a three-year war that claimed up to 30,000 lives.

 Source: Agencies

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Poles to elect president in run-off


UPDATED ON:
Sunday, July 04, 2010
05:42 Mecca time, 02:42 GMT


Opinion polls have predicted a win for Komorowski, left, but Kaczynski has been narrowing the gap [EPA]

Poles are set to vote in a second round election run-off to choose a new president.

Sunday's vote will help decide the speed and scale of economic reforms and set the tone for Poland's ties with its European Union partners and with Russia.

The election, called after the death of Lech Kaczynski and many other senior officials in a plane crash in Russia on April 10, pits Kaczynski's twin brother Jaroslaw, the combative eurosceptic leader of the main right-wing opposition party, against Bronislaw Komorowski, the candidate of the ruling pro-business Civic Platform.

Polling stations open from 6am (04:00 GMT) until 8pm on Sunday and exit polls showing the final estimated results are expected as soon as voting ends.

Around 30 million Poles out of a total population of 38 million are eligible to vote.

Tight race

Turnout in the first round was 54 per cent but the Komorowski camp fears that the timing of the election, in mid-summer, combined with unusually hot weather, will play to Kaczynski's advantage as Komorowski voters, who are generally younger and wealthier, are more likely to take holidays and fail to vote.

in depth

  Profile: Bronislaw Komorowski
  Profile: Jaroslaw Kaczynski
  Poland's future hangs in the balance

Still, opinion polls have mostly predicted a Komorowski victory, though Kaczynski has been narrowing the gap in recent weeks and lagged by just five percentage points in the first round of voting on June 20.

A final slew of polls published on Friday, the last day of campaigning, showed the candidates either on level terms or Komorowski with a small lead.

Financial markets favour a Komorowski presidency, expecting him to work smoothly with the market-oriented government of Donald Tusk, the prime minister, as it tries to rein in a big budget deficit while keeping a fragile economic recovery on track.

"Only co-operation can guarantee that money will be spent rationally, only co-operation can guarantee that Poland will take the path of development," Komorowski said on Friday.

In Poland, the government led by the prime minister sets policy, but the president appoints many key officials, has a say in foreign and security policy, and can propose and veto laws.

Investors fear that Kaczynski, who opposes cuts in public spending and privatisation, would use his presidential veto to block reforms, just as his brother Lech did before his death.

However, Kaczynski, known in the past for his acerbic nationalist rhetoric, has struck a conciliatory tone on the campaign trail in an apparent bid to win over middle-of-the-road voters.

"As president I would want to convince people to co-operate for the common good, for the development of Poland," he said on Friday, on a final swing through rural Poland, heartland of his conservative supporters.

Kaczynski is opposed to joining the euro any time soon and is distrustful of the EU, Russia and Germany.

Komorowski, the speaker of parliament and the country's acting president, shares Tusk's vision of a Poland firmly anchored in the European mainstream.

He favours working closely with Germany and other EU partners and trying to improve long troubled ties with Russia.

 Source: Agencies

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Turkey bombs Kurd targets in Iraq


UPDATED ON:
Friday, July 02, 2010
13:51 Mecca time, 10:51 GMT


The conflict between Kurdish separatists and Turkish forces has claimed more than 40,000 lives [AFP]

Turkish warplanes have bombed Kurdish rebel targets in northern Iraq, a day after 17 people were killed in clashes in Turkey's southeast, the army said.

The military targeted hideouts of the separatist Kurdistan Workers' Party (PKK) in the Qandil mountains and the Hakurk region, a statement said on Friday.

It did not mention casualties but said "necessary caution was displayed so that civilian people are not adversely affected".

The bombings came after 12 separatist fighters and five members of Turkish security forces died during clashes in the Kurdish southeast of Turkey.

Surge in violence

The fighting erupted after PKK rebels, armed with rockets and assault rifles, attacked a military unit in a rural area in Siirt province.

The PKK, which has stepped up violence in recent weeks, takes refuge in bases in northern Iraq, using them as a launching pad for attacks on Turkish targets across the border.

Violence surged after Abdullah Ocalan, the jailed PKK leader, said through his lawyers in May that he was abandoning efforts to seek dialogue with Ankara for a peaceful end to the 26-year conflict.

The mounting clashes dealt a severe blow to an already faltering government initiative, announced last year, to boost Kurdish freedoms and investment in the impoverished southeast, in a bid to cajole the PKK into laying down arms.

The Turkish army has been targeting PKK hideouts in northern Iraq under a parliamentary authorisation for cross-border military action, which was first approved in 2007 and later extended until October.

The surging violence has cast a shadow also on Turkish efforts to mend fences with the Iraqi Kurds, whom Ankara had often accused in the past of tolerating the PKK in their autonomous region in northern Iraq.

The PKK, listed as a terrorist group by Ankara and much of the international community, took up arms for Kurdish self-rule in the southeast in 1984, sparking a conflict that has claimed more than 40,000 lives.

 Source: Agencies

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Deaths in Turkey clashes with Kurds


UPDATED ON:
Thursday, July 01, 2010
12:45 Mecca time, 09:45 GMT


The Kurdistan Workers' Party have been fighting for an independent state [AFP]

At least 12 Kurdish separatist fighters and five members of the Turkish security forces have been killed in clashes in the southeast of the country, the army said.

Two separate attacks by suspected members of the Kurdistan Workers' Party (PKK) in Siirt province left two soldiers and three village guards dead, an army statement said.

Twelve fighters were then killed in the ensuing operation late on Wednesday, backed by artillery fire and helicopter gunships, the statement added.

The violence is a further sign of rising tension in the troubled region, where the PKK are fighting for an independent Kurdish state.

More than 50 Turkish soldiers have been killed in recent months as the PKK has increased attacks on military installations in the primarily Kurdish southeast.

The military says 42 PKK were killed in clashes in June.

The outlawed PKK has stepped up attacks on the military after calling off its one-year truce on June 1, dissatisfied with prime minister Recep Tayyip Erdogan's concessions to Kurdish demands for reform.

The government refuses to negotiate with the group, which is considered a terrorist organisation by the United States and the European Union.

Many of the rebels stage hit-and-run attacks from bases in northern Iraq.

The violence has claimed the lives of some 40,000 since 1984.

 Source: Agencies

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'Spy suspect' disappears in Cyprus


UPDATED ON:
Thursday, July 01, 2010
07:00 Mecca time, 04:00 GMT


Metsos was reportedly last seen on at his
hotel reception on Tuesday [AFP]

A man wanted by the US authorities on suspicion of being the 11th member of a Russian spy ring has gone missing after being released on bail in Cyprus, police said.

Christopher Robert Metsos had been ordered to visit a police station in the city of Larnaca each day until an extradition hearing, but he failed to show up on Wednesday.

"The individual should have appeared between 6:00 and 8:00 pm to police. He did not appear by 8:00. Some additional time was given and until now he has not shown up," Michalis Katsounotos, a police spokesman, said.

"Police then went to check his hotel and he could not be located. After that we requested a warrant for his arrest."

The hotel's staff said Metsos was last seen at the reception on Tuesday evening and had paid for two weeks in advance with a credit card.

Metsos, who is apparently a Canadian national, was arrested at Larnaca airport on Tuesday after immigration officers discovered his name on a stop list.

Extradition hearing

He was the only one of the 11 suspects, who have been accused of acting as agents for a foreign government, to be detained outside of the US.

An extradition hearing for Metsos was scheduled for July 29.

Police told the court in Larnaca that Metsos was wanted in the United States for spying on behalf of Russia and for laundering $40,000.

Michalis Papathanasiou, his lawyer, told the Reuters news agency he had had no contact with the suspect on Wednesday.

On Monday, US authorities announced the arrest of 10 "deep-cover" suspects accused of infiltrating policymaking circles and reporting back to Russia.

The suspects were accused of seeking information on issues ranging from nuclear weapons research to the global gold market and CIA job applicants, according to US prosecutors.

Moscow appeared to soften its initially angry reponse to the allegations on Wednesday, saying it did not believe that the arrest would harm relations with Washington.

"We expect that the incident involving the arrest in the United States of a group of people suspected of spying for Russia will not negatively affect Russian-US relations," a foreign ministry official said on condition of anonymity.

Vladimir Putin, the Russian prime minister, and Sergei Lavrov, the foreign minister, both reacted angrily when the claims were originally put before them, with the latter suggesting that the timing was suspicious.

Dmitry Medvedev, the Russian president, visited Barack Obama, his US counterpart, in Washington last week as the the two nations made an effort to "reset" relations strained since Russia's war in Georgia in 2008.

 Source: Agencies

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UK court rules on soldiers' rights


UPDATED ON:
Wednesday, June 30, 2010
14:05 Mecca time, 11:05 GMT


The ministry of defence said it would be difficult to to apply the Human Rights Act to soldiers abroad [AFP]

Britain's supreme court has quashed a landmark ruling that British soldiers serving overseas are protected by human rights laws at all times.

Wednesday's ruling came after the government appealed a lower court decision that said the Human Rights Act applied to soldiers everywhere, even at war.

The ministry of defence had argued it would be difficult to give soldiers serving abroad or in battle situations the protection required by the legislation.

The case centered on the death of Jason Smith, 32, who died of heatstroke while serving in Iraq in 2003.

An inquiry in 2006 found the military had failed to recognise and take appropriate steps to address the difficulty Smith had adjusting to Iraq's climate.

'Astonishing finding'

Lord Rodger, one of the justices who allowed the appeal, said protection for soldiers could "never be complete".

"Any suggestion that the death of a soldier in combat conditions points to some breach by the United Kingdom of his Article 2 right to life is not only to mistake but - much worse - to devalue what our soldiers do," he was quoted by the Press Association.

But Jocelyn Cockburn, who represented Catherine Smith, Jason Smith's mother in her case at the Supreme Court, said Wednesday's decision was "shocking".

"If you asked British soldiers whose jurisdiction they are under, they would say the United Kingdom. They are bound by and can rely on its laws, wherever
they serve in the world," the Press Association quoted her as saying.

"Despite this, the Supreme Court has held that soldiers leave the UK jurisdiction, insofar as the Human Rights Act is concerned, when they leave a UK army base.

"It can only be hoped that the morale of soldiers who are risking their lives for us will not be severely damaged by this astonishing finding."

Cockburn said that the issue would have to be tested in the European Court of Human Rights in Strasbourg.

Special duty

James Eadie, a Queens Counsel representing the ministry of defence, had argued at an earlier hearing in March that it would never be possible to guarantee rights under the European Convention to soldiers.

He said the reasoning of the appeal judges at the time could mean that the state had a special duty to protect soldiers from all risks, including those caused by conflict.

Eadie had added it could lead to commanders becoming less effective in tactical decision-making and weaken operational effectiveness.

John Wadham, a group legal director at the Equality and Human Rights Commission, said he was disappointed by the ruling and that soldiers should be given human rights protection.

"Soldiers are often required to lay down their life for their country and in return, should be afforded human rights protection.
 
"Extending human rights protection is not about individual decisions in the heat of battle, but ensuring that when we send soldiers off to war they are
properly prepared; kitted out correctly and with equipment fit for combat," he said.

 Source: Agencies

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French strike over austerity plans



UPDATED ON:
Thursday, June 24, 2010
21:29 Mecca time, 18:29 GMT


Unions said two million people took to the streets to protest against the government's plans [Reuters]

French unions have held a nationwide strike to protest against government plans to raise the retirement age and reform state pensions, austerity measures designed to slash the public debt.

Bernard Thibault, the head of the CGT, France's largest union, said at least two million protestors had taken part in Thursday's action, which disrupted public transport and closed schools.

About 200 rallies took place across the country, with police putting the turnout at 797,000.

The government has vowed it will not revisit the centrepiece of its reforms, lifting the age of retirement to 62 from 60 by 2018, saying the move was needed to prevent the pension system from going bust and sinking state finances.

'Massive' turnout

Protesters in Paris held placards reading: "Sarkozy, Don't Touch our Pensions!" while others held a cardboard coffin marked: "Here lies Roger. He's 60, and he died before getting his retirement".

The day of action is a key test of strength between the powerful unions and Nicolas Sarkozy, the French president, who needs to cut a ballooning budget deficit and public debt to help the country maintain its AAA sovereign debt rating.

Estelle Youssouffa, Al Jazeera's correspondent in Paris, said: "The turnout has been massive today, nationwide, with 200 demonstrations taking place across various cities.

"Hundreds of thousands have been taking to the streets here in the French capital.

"Protesters are very angry at the French government's decision to push the retirement legal age to 62.

"The French feel that this reform is unfair, that it is targeting pensioners who are already suffering, and it is one major social benefit that the French don't want to lose."

Retirement row

Six out of France's seven unions joined forces for Thursday's rallies, and said the demonstrations were a foretaste of the protests they plan for September, when the national assembly will vote on changes to the retirement age.

The government has proposed raising the retirement age from 60 to 62, which although lower than in many European countries, breaks a significant taboo in a country where many saw retirement at 60, introduced by a socialist government in 1983, as a human right.

The government unveiled its planned overhaul of the pay-as-you-go pensions regime last week, saying that without major changes the system would run up annual deficits of $134.2bn by 2050.

Transport authorities said about one in two mainline trains ran in and out of Paris on Thursday morning, with three in four Paris metro trains operating.

The DGAC airport authority said 15 per cent of flights were cancelled between 0500 and 1200 GMT, while one in two teachers was expected to go on strike, the teachers' union said.

Radio stations, such as all-news France Info, played music to fill the gaps in their programming left by striking staff.

 Source: Al Jazeera and agencies

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Kurdish rebels claim Istanbul bomb, killing 5

ISTANBUL
Tue Jun 22, 2010 10:43am EDT
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ISTANBUL (Reuters) - A roadside bomb blew up a bus carrying Turkish military personnel and their families in Istanbul on Tuesday, killing five people, and a Kurdish separatist group claimed responsibility.

World

The attack -- the worst in Turkey's largest city since a double bomb blast killed 17 people in 2008 -- comes as the Turkish military boosts operations to staunch increasing separatist violence.

The remote-controlled explosive was detonated near a military housing complex in the district of Halkali. The dead included three sergeants, a lower-ranking soldier and a 17-year-old girl, the Anatolian state news agency said.

The blast wounded about a dozen people, said Istanbul's Provincial Governor Huseyin Avni Mutlu. "This is a terrorist attack, and the aim of the attack is clear -- to create divisions, tensions and despair," he told reporters.

The Kurdistan Freedom Hawks (TAK), which have carried out bombings in Turkey in the past, claimed responsibility for the blast, and said more attacks were imminent.

"This planned action of ours was completely directed against a military vehicle. Turkish security forces have used civilians as a shield in the past. The Turkish state is completely responsible for the loss of civilian (life) in this action," the group said in a statement.

The group is believed to have links with the Kurdistan Workers Party (PKK), the main separatist group operating in mainly Kurdish southeast Turkey. The PKK told Reuters separately its leadership had no information on who was behind the attack.

Kurdish separatists, based in northern Iraq, have increased attacks on military targets in the southeast in recent weeks after accusing the government of not being serious about promised reforms.

Fighting with PKK rebels has claimed the lives of more than 50 soldiers over the last two months. PKK guerrillas killed 11 soldiers at the weekend alone in one of the deadliest attacks in years, prompting Turkey to begin a major deployment of troops and elite forces along the Iraqi border on Monday.

Turkish bonds and the lira weakened on Tuesday.

"(It) looks like the terrorist organization is trying to move the battleground into large cities. If it will be the case it will hurt investors' sentiment in Turkey," said Ata Invest analyst Mehmet Ilgen in a note to clients.

Istanbul was hosting on Tuesday a meeting attended by the Croatian, Serbian and Turkish foreign ministers.

POLITICAL FALLOUT

Television channels showed the bus's shattered windows and the wounded being taken to hospital after the blast, at about 7:30 am (0430 GMT). It was not clear how many passengers were on the bus or how many were military personnel.

Investors were also watching for any political fallout, as Prime Minister Tayyip Erdogan faces growing criticism for his government's failure to stop Kurdish rebel violence.

Erdogan's AK Party government has granted more political and cultural rights to minority Kurds in a bid to end the conflict, but the reforms were met with nationalist opposition and suffered a blow when the Constitutional Court last year banned the largest Kurdish party in parliament for links to the PKK.

Opposition parties have accused the government of making political decisions that have weakened the struggle against the PKK and have increased calls for bring forward elections scheduled for 2011.

"It's impossible to wipe out terrorism all at once. What the government can do is neutralize them, erase their marks," Erdogan told AK Party members, rejecting calls from nationalist politicians for the return of emergency rule in the southeast.

Some opinion polls have shown support falling for the AK Party, which has held power since 2002.

Intelligence-sharing with the United States has helped Turkey target rebels in northern Iraq, but Ankara indicated it wanted more cooperation.

"When the subject is terrorism, all parties and neighbors should be in solidarity. They must work with us, not just in words but in deeds," Foreign Minister Ahmet Davutoglu said.

The PKK said this month it had scrapped a year-old unilateral ceasefire and resumed attacks against Turkish forces because of military operations against it.

About 40,000 people have been killed since 1984 when the PKK took up arms to carve out an ethnic homeland in the southeast.

(Additional reporting by Daren Butler and Ayla Jean Yackley in Istanbul, Writing by Thomas Grove; Editing by Mark Trevelyan)

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Deaths in Istanbul bus bombing



UPDATED ON:
Tuesday, June 22, 2010
16:52 Mecca time, 13:52 GMT


The PKK has recently stepped up its attacks on Turkish military targets [Reuters]

Five people have been killed and 12 others wounded in a bomb attack on a bus carrying military personnel and their families in Turkey's largest city, Istanbul.

The remote-controlled roadside bomb was detonated close to a military housing complex on Tuesday morning.

A Kurdish separatist group with the links to the Kurdistan Workers Party (PKK) has claimed responsibility for the bombing.

Four of those killed were army soldiers, while the fourth was a 17-year-old girl, Turkey's state news agency Anatolian reported.

Local TV showed images of the heavily damaged bus, which was part of a convoy of three buses passing through the Halkali district, a suburb on the European side of the city.

"According to initial information, it was a remote-control bomb planted at the roadside," Huseyin Avni Mutlu, Istanbul's provincial governor said.

"This is a terrorist attack, and the aim of the attack is clear - to create divisions, tensions and despair."

PKK warning

It comes as tensions between the Turkish military and Kurdish rebel fighters grows worse. In the latest clashes, troops killed seven rebels overnight.

Al Jazeera's Anita McNaught, reporting from Istanbul, said that the attack took place on an open road on the far outskirts of the city, away from any habitation.

in depth

  Inside Story: 'Crushing the PKK'
  Who are the PKK?

Our correspondent said the bombing comes as tensions between the Turkish military and Kurdish rebel fighters grows worse.

She said that the PKK had warned that it would "take the fight to the cities" after 12 of its fighters were killed in clashes with Turkish soldiers on Saturday.

At least a dozen soldiers have died in the recent upsurgeof violence.

The bombing of the bus comes a day after Turkish military forces began a major deployment along the border with Iraq.

Our correspondent said that about two weeks ago there was a similar attack on a police bus, with only minor injuries, on the western outskirts of Istanbul.

Escalating conflict

Fighting has escalated in the southeast of Turkey, which is predominantly Kurdish, in recent weeks.

It follows increased infiltration by PKK members into Turkeyfrom the mountains of northern Iraq where thousands of the fighters are based.

The increase in confrontations in recent weeks came after the PKK called off a year-old unilateral ceasefire and announced it was resuming attacks on Turkish forces.

The group accuses the military of offensive attacks and the government of impeding a political resolution of the conflict.

More than 40,000 people, mostly Kurds, have been killed in violence since the PKK launched its armed struggle against the Turkish state in 1984.

 Source: Al Jazeera and agencies

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LONDON (Reuters) - European shares ended a near two-week winning run on Tuesday, led lower by banks after Fitch Ratings' downgrade of BNP Paribas (BNPP. ...
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Dollar gains on euro as Europe recovery prospects cool
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The downgrade pushed the euro to an intraday low against the dollar late in the prior session and weighed on European bank stocks Tuesday. ...
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Italy chief blames clubs for Euro woes
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Europe's traditional big six of Germany, Spain, Italy, Netherlands, France and England have mustered only four wins between them in the first 11 days - and ...
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Asian Stocks Fall on Europe Debt Concern; Yen Gains Versus Euro
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The Stoxx Europe 600 decreased 0.6 percent to 256.62. Dubai's DFM General Index dropped 1.7 percent. Standard & Poor's 500 Index futures were little changed ...
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Trichet Must Toughen Up
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... suffused with a sense of relief that at last governments and parliaments have grasped how profound the structural flaws in Europe's monetary union are, ...
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Bond Risk Rises in Europe as Bank Funding Concerns Resurface
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By Seda Sezer June 22 (Bloomberg) -- Bank of America Merrill Lynch said markets have “overreacted” to the debt crisis in Europe and it expects a 10 percent ...
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21 June 2010

Russia Cuts Gas Deliveries to Belarus
New York Times
He then ordered Gazprom to gradually reduce supplies sent through Belarus, whose pipelines carry roughly 20 percent of Russia's experts to Europe. ...
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Gold Approaches Record as Investment Demand Surges on Europe
BusinessWeek
Spain has 24.7 billion euros of maturing debt in July and may need to use a financial lifeline from the European Union. Gold will climb to a record $1300 an ...
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GLOBAL MARKETS: European Stocks Strengthen; Confidence Rises
Wall Street Journal
By Ishaq Siddiqi & Andrea Tryphonides Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European stocks strengthened Monday, with basic resource shares leading the ...
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U.S. Open: McDowell ends European drought
ESPN
But somehow McDowell became the first European in 40 years to capture the US Open on a day when far more heralded players such as Ernie Els, Phil Mickelson ...
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Bond Risk Falls to 6-Week Low in Europe as China Ends Yuan Peg
BusinessWeek
By Abigail Moses June 21 (Bloomberg) -- The cost of insuring against losses on European corporate bonds fell to the lowest level in almost six weeks as ...
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European shares jump in early trading
MarketWatch
LONDON (MarketWatch) -- European shares jumped in early trading on Monday, after China's central bank announced over the weekend that it will loosen the ...
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Kan Says G-20 Focus Will Be on Europe Fiscal Problems
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... issue on the agenda of this week's Group of 20 and Group of Eight summits in Canada will likely be the world's debt problems, especially in Europe. ...
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Medco, Celesio Form European Venture to Cut Costs
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Medco, the largest US pharmacy benefits manager, and Germany's Celesio, Europe's biggest publicly traded drug wholesaler, will pool some of their operations ...
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EUROPE: Regional Alert Launched Over 'Smurf' Mozzarella
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Italian authorities have alerted the European Commission after finding over 70000 tainted mozzarella balls that were produced in the Bavaria region of ...
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FOREX, COMMODITIES, STOCKS OUTLOOK June 21st:Cliff's 2 Minute Drill 10:30 GMT
Benzinga
Stocks: Prior day: Asia up, Europe, down US up. Today: Asia, Europe up . The nascent reaction bounce rally gets a huge surprise boost from the Chinese ...
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Komorowski leads in Polish vote



UPDATED ON:
Monday, June 21, 2010
06:38 Mecca time, 03:38 GMT


Komorowski, who is pro-Europe and pro-reforms, is set for a runoff against Kaczynski on July 4 [AFP]

Early results from Poland's presidential election have given the country's acting president the lead, but not enough to avoid a runoff vote.

The State Electoral Commission said early on Monday that with more than 70 per cent of polling stations reporting, Bronislaw Komorowski had won 40.1 per cent of the votes, ahead of the 37.4 per cent for Jaroslaw Kaczynski, the twin brother of the late president, Lech Kaczynski.

But it appeared Komorowski would not garner enough votes for an outright win and is very likely to face Kaczynski in a runoff election on July 4, without the eight other candidates who ran in Sunday's first round.

Full results are expected later on Monday.

Political logjam

Victory would be a boon for Komorowski's Civic Platform party, unlocking a political logjam more than a year before the autumn 2011 parliamentary elections.

in depth

  Profile: Bronislaw Komorowski
  Profile: Jaroslaw Kaczynski
  Video: Poles gear up for elections

The election date was moved up after Lech Kaczynski was killed in a plane crash along with his wife and 94 others near the western Russian town of Smolensk on April 10.

Nazanine Moshiri, Al Jazeera's correspondent in Warsaw, said that there was a lot of sympathy for Kaczynski, following the death of his twin brother and as his mother is seriously ill in hospital.

"But there are other things at stake in this election, like the direction Poland is heading. Lech was very much against Poland joining the euro and withdrawing troops from Afghanistan.

"He vetoed a lot of policies the government was trying to bring in to modernise and liberalise the market. So there're a lot of things on people's minds here."

Moshiri said that Komorowski was pro-Europe and pro-reforms, going against Jaroslaw Kaczynski's support base.

"So this really is a contest between two different visions of what the future should be here in Poland," Moshiri said.

 Source: Al Jazeera and agencies

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20 June 2010

Sarkozy whirls among European powers to coordinate stance
Xinhua
After months of rifts over financial regulations in Europe and national austerity measures, Sarkozy succeeded in reachig concrete consensus with German ...
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Minsk sends delegation to Moscow for crisis gas talks
Reuters
Russia's gas price disputes with its neighbours became a worry for Europe when its supplies were halted for almost two weeks in the dead of winter in early ...
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China Think Tank: PBOC Statement To Help Exporters To Europe
Wall Street Journal
BEIJING (Dow Jones)--China's central bank statement over the weekend on increasing the yuan's flexibility, after the local unit had been pegged to the ...
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Iranian Official Says Crude Sales To Europe Increasing
Wall Street Journal
LONDON (Dow Jones)--Iranian crude oil sales to Europe have been increased in 2010, a top official at the National Iranian Oil Co., or NIOC, was quoted as ...
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Jeep to Take Global Lead as Chryslers Become Lancias in Europe
BusinessWeek
Chrysler's minivan, Sebring and 300 models will be rebadged as Lancias across most of Europe at the end of the first quarter or early in the second, ...
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Israel, Kuwait Shares Lead Middle East Gains on Europe, Oil
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By Zahra Hankir June 20 (Bloomberg) -- Israel and Kuwait shares led Middle East markets higher as Europe's efforts to contain its debt crisis bolstered ...
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U.S. stocks edge higher as Asia view brightens
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US stocks end the week with healthy gains as investors appear to look past fears of Europe's debt crisis gathering pace in Spain and other negative factors. ...
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Los Angeles Times
Turkey looks east and makes waves
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"And, practically speaking, there's no place for Turkey in Europe, at least in the short term." The crisis over the recent deadly Israeli raid on a ...
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US stocks rise for second straight week
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US stocks rose last week, capping the market's biggest two-week rally since November, after New York area manufacturing expanded and Europe's efforts to ...
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Poles head to presidential polls




UPDATED ON:
Sunday, June 20, 2010
09:37 Mecca time, 06:37 GMT


 Kaczynski, the late president's twin, is challenging Komorowski, the acting president [AFP]

Poles have started voting in a snap presidential election forced by the death of Lech Kacyzynski, the country's president, in a plane crash.

Polling stations opened at 04:00GMT on Sunday and will remain open until 18:00GMT.

Jaroslaw Kaczynski, the late president's twin brother and leader of the conservative Law and Justice party, is challenging Bronislaw Komorowski, the acting president.

Opinion polls put Komorowski, the candidate for the pro-EU Civic Platform party, as the frontrunner, with Kaczynski in second place.

Surveys published on Friday gave Komorowski a five to 18-point lead on Kaczynski.

"The Polish boat is sailing in the right direction," Komorowski said before a campaign blackout came into force at midnight on Friday.

But opinion surveys also show that Komorowski may fall short of the 50 per cent of the vote needed for an outright win in order to avoid a July 4 run-off vote.

However, surveys show he would beat Kaczynski easily in a second round.  

Polls show eight other candidates in the race stand no real chance.

Victory would be a boon for the Civic Platform, unlocking a political logjam more than a year before the autumn 2011 parliamentary elections.

The election date was moved up after Lech Kacyzynski was killed in a plane crash along with his wife and  95 others near the western Russian town of Smolensk on April 10.

 Source: Agencies
 
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19 June 2010


After the Security Council Vote
New York Times (blog)
But four years after the Security Council first ordered Iran to stop enriching uranium, Europe is still Iran's biggest trading partner. ...
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Dollar steady as European crisis worries ebb
The Associated Press
NEW YORK — The dollar was little changed Friday against major currencies after European Union leaders moved to calm fears of a financial crisis. ...
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MARKET COMMENT: European Stocks Log Eighth Session Of Gains
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By Sarah Turner LONDON (Dow Jones)--European shares ended higher Friday, just clinging onto a recent winning streak, as gains for banks worked to offset ...
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Gold Rises to Record as Shelter From US, Europe Concerns
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By Pham-Duy Nguyen June 18 (Bloomberg) -- Gold futures rose to a record $1263.70 an ounce in New York as Europe's fiscal woes and dimming prospects for the ...
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HEARD ON THE STREET: No Good Answers From Euro Stress Tests
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By SIMON NIXON European leaders may have hoped to draw a line under Europe's sovereign crisis by agreeing to publish individual bank stress-test results. ...
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US stocks rise as Caterpillar, mining stocks gain ground
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However, the Caterpillar report wasn't as upbeat about Europe. Some traders were also nervous that Group of 20 leaders scheduled to meet in Canada next ...
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Sanofi-Aventis leads Europe's drug sector losses
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The sector, which is less leveraged to economic growth than many other sectors, has outperformed the broader market so far this year in Europe, having risen ...
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Asian Stocks Have Biggest Weekly Advance This Year on US Data
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“There was a lot of pessimism about what's happening in Europe that took the market down,” said Tim Leung, who helps manage about $1.5 billion at IG ...
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Euro Gains Most Since May 2009 as European Debt Concern Eases
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“The recent news out of Europe is reassuring,” said Camilla Sutton, a Bank of Nova Scotia currency strategist in Toronto. “Europe will release the results ...
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US stocks brace for volatile week
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Some stability in debt-stricken Europe buoyed confidence. The tech-rich Nasdaq index climbed three per cent to 2309.80 and the broad-market S&P 500 index ...
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EU places further sanctions on Iran





Posted here on 18 June 2010
UPDATED ON:

Thursday, June 17, 2010
21:09 Mecca time, 18:09 GMT

Iran says its nuclear programme is purely for civilian purposes [EPA]

European leaders meeting in Brussels have decided to impose new sanctions on Iran over its nuclear programme, going further than the UN's latest punitive measures aimed at putting pressure on Tehran.

The new EU sanctions would include a unique ban on new investment, technical assistance and transfers of technologies to Iran's key gas and oil industry.

Thursday's move came a day after the US Treasury expanded its Iranian blacklist to include another of the country's state-controlled banks, a shipping line and more members of the revolutionary guard corp.

Russia, which last week approved the fourth set of sanctions to be imposed on Iran by the UN Security Council, has sharply criticised the EU and Washington for imposing the additional sanctions.

'Harmful' move

Sergei Ryabkov, Russia's deputy foreign minister, called the latest moves "harmful" and warned the West it risked losing Moscow's support for concerted efforts to rein in Tehran's nuclear activity.

"We are extremely disappointed that neither the United States nor the European Union is heeding our calls to refrain from such steps," Russia's Interfax and Itar-Tass news agencies quoted Ryabkov as saying.

In the declaration, the EU leaders expressed their "deepening concerns about Iran's nuclear programme".

Tim Friend, Al Jazeera's correspondent in Brussels, said: "The draft says that it expresses deep regrets about Iran not having taken the many opportunities to assuage international concerns about its nuclear programme.

"They particularly want to add more visa bans and asset freezes on the Islamic revolutionary guards corps which, of course, control a lot of the economy in Iran.

Tehran says its nuclear programme is purely for civilian purposes, but Israel and Western powers fear it may be trying to develop nuclear weapons.

 Source: Al Jazeera and agencies

 



Google News Alert for: Europe News


18 June 2010

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Cameron's first European summit
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David Cameron worked his European audience at his first summit. There were lots of smiles and handshakes. He used words like "positive", "engaged" and ...
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Drug stocks put Europe winning run in jeopardy
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By Sarah Turner , MarketWatch LONDON (MarketWatch) -- European shares traded flat on Friday, placing a recent winning streak in jeopardy, as losses mounted ...
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European, Asia Stocks Advance; Euro, Won Strengthen Vs. Dollar
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Bushmeat smuggling rife in Europe: report
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Europe shares edge higher; banks up, pharmas fall
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By Abigail Moses June 18 (Bloomberg) -- The cost of insuring against losses on European high-yield corporate bonds fell for an eighth day, according to ...
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17 June 2010

Europe stocks extend rally; debt auction reassures
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In spite of Thursday's gains, the STOXX Europe 600 Banks .SX7P is still down 7 percent so far this year, featuring among the biggest sectoral losers. ...
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Futures Follow Europe Higher
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By STEVE GOLDSTEIN US stocks are tipped to open higher Thursday, with futures taking cues from European markets after a strong Spanish bond auction boosted ...
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China Shares End Slightly Lower Due To Europe Concerns
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BP and banks help Europe extend gains to seven sessions
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The Stoxx Europe 600 index (STOXX:ST:SXXP) rose 0.5% to 255.70. President Barack Obama announces BP has agreed to set aside $20 billion to pay claims for ...
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Europe's Sanctions Targets in Iran
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By Stephen Fidler European Union leaders discuss today authorizing new sanctions on Iran over its nuclear program. The exact shape of the sanctions are ...
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Japan Companies Join US in Hoarding Cash on Europe
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Deadly flash floods hit France



UPDATED ON:
Thursday, June 17, 2010
07:37 Mecca time, 04:37 GMT



Flash floods have killed 19 people and left seven others missing near France's Mediterranean coast, officials say.

Firefighters and helicopters were sent to rescue hundreds of people trapped in their vehicles, houses, or on rooftops in the Draguignan area on Wednesday.

More than 350mm of rain fell on the Var department in southern France in a few hours on Tuesday.

"Draguignan was the worst-hit town, with hundreds of vehicles swept away and several neighbourhoods under water," Hugues Parant from the Var department, said.

"We haven't seen anything like this in a decade."

The death toll climbed during Wednesday as rescuers found the bodies of more victims.

"This is probably not the final toll," Parant said.

Rescue operations

"This morning, we woke up to find a city that was devastated, extremely battered with overturned cars floating in the streets, collapsed roads and gutted houses," Corinne Orzechowski, the head of the emergency operation, said.

"We are still in the rescue phase before moving on to the cleanup."

She said that makeshift shelters had been opened for families left homeless by the floods.

About 1,850 firefighters, soldiers and police officers and 11 helicopters were mobilised, officials said, saying that 1,500 calls for help had been received.

The disaster reached the popular tourist town of Frejus where more than 1,500 people were taken to safety, many in inflatable boats or by helicopter airlift to four shelters.

Up to 200,000 homes were left without electricity during the rainstorms but by Wednesday afternoon power had been restored to around half of those, officials said.

The SNCF rail authority halted all train services between Toulon and Saint-Raphael until Thursday, saying some three kilometres of tracks were under water.

In February, a ferocious storm and surging tide killed 53 people in southwestern France.

 Source: Agencies
 
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Barcelona to ban face veils



UPDATED ON:
Wednesday, June 16, 2010
15:13 Mecca time, 12:13 GMT


Barcelona is set to become the first big city in Spain to ban Islamic face veils in public buildings such as markets and libraries.

The city's municipal government released a statement on Tuesday announcing the prohibition, which is due to take effect after the summer.

"Barcelona will forbid the use of the burqa, niqab and any other item which hinders personal identification in any of the city's public installations," the statement said.

Alberto Fernandez, a city councellor and member of the conservative Popular Party, said on his website that "the use of the burqa and niqab undermines the dignity and freedom of women". 

"The mayoral decree is a half-measure, because as well as forbidding the burqa and niqab in public installations, it is necessary to forbid it on the street," he added.

Face veils are banned in all public spaces in the relatively small towns of Lerida and El Vendrell, which like Barcelona are in the northeastern region of Catalonia in Spain.

But Jordi Hereu, Barcelona's mayor, has resisted calls to impose a ban on full face veils in all public spaces in Spain's second-largest city, which is in a country home to around 1.4 million Muslims, because he said it was outside the jurisdiction of a municipal government.

The ban on face veils is not new in Europe. 

France approved a bill last month to outlaw the wearing of veils in public and Belgium's lower house has also voted in favour of prohibiting the full veil, provoking strong reaction and stoking debate across the continent.

 Source: Agencies
 
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16 June 2010


GLOBAL MARKETS: European Stocks Pare Gains; Nerves Remain
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By Ishaq Siddiqi & Michele Maatouk Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European stocks pared earlier gains Wednesday but remained mostly higher, ...
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Germany Government Approves Biggest Austerity Plan Since World War II
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Lehman's Europe creditors may get paid early: WSJ
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Bookies see Europe stocks extending rally
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Gold Holds Steady on Sovereign-Debt Fears
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By RHIANNON HOYLE LONDON—Gold held steady in Europe Wednesday and market participants said they expect prices to stay that way for the next couple of days ...
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Cost of Debt Adds to Fear About Spain
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“He is in Europe this week, and is taking this opportunity to discuss global economic developments with the prime minister, and to consult with him on ...
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Europe Inflation Accelerates on Energy, Euro's Drop
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By Simone Meier June 16 (Bloomberg) -- European inflation accelerated to the fastest pace in more than a year in May as surging energy costs and a weaker ...
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The Stoxx Europe 600 wavered between gains and losses in Europe, with Spanish funding woes and France's decision to hike its retirement age in the spotlight ...
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European Stocks Fluctuate; Irish Life Surges, Daimler Retreats
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By Adria Cimino June 16 (Bloomberg) -- European stocks fluctuated near a one-month high as gains by insurers offset a decline by auto- industry companies. ...
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Flash floods claim seven lives in southern France

10:04 AM PST | Wed, 16 Jun, 2010 | Rajab 03, 1431


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An emergency services boat helping citizens. - Photo by Reuters.

DRAGUIGNAN, France: Heavy rains triggered flash floods in the mountains above France's southern Cote d'Azur region on Tuesday, killing seven people, while at least another eight were missing, a local official said.

Water levels swiftly rose by several metres, preventing many from fleeing to higher ground and forcing some to seek shelter on the roofs of their homes.

Rescue services were focussing their efforts on helping hundreds of people trapped in the vehicles, houses or on the roofs of their homes, the secretary general for the Var region, Olivier de Mazieres told AFP.

Helicopters had already airlifted some people to safety, he added.

Three people were killed in the town of Draguignan and a woman in Luc. Her body was left to float in the water raging through the town as rescue workers deemed the currents too strong to attempt a recovery.

The other victims died in Arcs, Muy and Roquebrune-sur-Argens, the secretary general for the Var region, the sub-prefect of Draguignan, Corinne Orzechowski, told AFP. Another eight people were missing, she added.

“We haven't seen anything like this in a decade,” said the top official for the Var department, Hugues Parant, noting that 180 millimetres (seven inches) of rain had fallen within 12 hours.

“In a few minutes the water rose by 50, then 60 centimetres, said one AFP reporter caught in the flooding at Draguignan. “And it is up to two metres,” he added.

Such was the extent of the flooding that empty vehicles, cars and lorries alike, were floating down the street.

The rising water also trapped a high speed train travelling from the southern city of Nice to Lille in the north at Luc with 300 passengers on board.

More than a thousand people were involved in the rescue operations, including hundreds drafted in from other regions.

Some 175,000 homes in the region have lost power. – AFP



Tags: flash floods france rain

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UK to release Bloody Sunday report



UPDATED ON:
Tuesday, June 15, 2010
15:40 Mecca time, 12:40 GMT


Victims' relatives held a march before the release of the report that took 12 years to complete [AFP]

A long-awaited report into the "Bloody Sunday" deaths of 13 people in Northern Ireland during the country's recent violent history, is to be released after a 12-year investigation.

The 5,000 page report on the killings of Catholic demonstrators in 1972 is to be made public by the UK's bloody Sunday inquiry on Tuesday.

The deaths in Londonderry were Northern Ireland's biggest mass killing by British troops and a key point during the nation's so-called Troubles.

Tony Blair, the ex-prime minister, ordered the inquiry in 1998 under pressure from victims' families and it has been the biggest and most expensive probe in UK legal history.

'Murder'

Relatives of those killed were given copies of the report in advance of its public release.

The investigation looked into the events of January 30, 1972 when 13 men who were marching at the time were shot dead by the troops. A 14th man later died from his injuries, while another 15 people were wounded in the incident.

Troops had charged crowds massing for the illegal Catholic demonstration in Bogside, a hostile city neighbourhood. They said that they had been responding to shooting by the Irish Republican Army and were striking at armed individuals in the group. However, no soldiers suffered injuries.

"The soldier who killed my brother shot him in the back. My brother was unarmed. That's murder, plain and simple," Joe McKinney, one of the 56 people given the report amid tight security inside Londonderry's city hall, said.

In the original probe by British authorities in the same year as the deaths, those killed were found to be bombers and gunmen.

However, relatives expect the new investigation to overturn that ruling and state that the soldiers committed murder, opening the way for criminal proceedings.

Justice

Mickey McKinney, whose 27-year-old brother was killed in the events, said the British army and government must be held to account.

"We want the truth - a declaration of innocence and a recommendation that those responsible are prosecuted," he said.

"If I know justice has been done, I'll be able to move on and know I did my best."

Victims' families held a procession to Londonderry city hall before the release of the report on Tuesday, holding pictures of those killed and injured.

During Northern Ireland's four decade conflict, 1972 was to become one of the deadliest years following Bloody Sunday.

More than $275 million was spent on producing the report.

 Source: Agencies
 
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15 June 2010


McLaren Says Supercar Sales Buoyed by Europe as Austerity Fades
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Romania - Factors to Watch on June 14

BUCHAREST
Mon Jun 14, 2010 2:41am EDT

Stocks

 
JAPAN TOBACCO INC.
2914.T
¥301,500
+4,500.00+1.52%
12:00am GMT+0200

BUCHAREST June 14 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Monday.

Energy

T-BILLS TENDER

The finance ministry tenders 1 billion lei worth of six-month treasury bills.

Romania faces a tough task selling the bills just a day before an expected government no confidence vote in parliament and will probably have to swallow considerably higher yields or reject all bids. [ID:nLDE6590VQ]

POTENTIAL GOVT RESHUFFLE

Prime Minister Emil Boc may decide to replace some of his ministers after the no-confidence vote in parliament on Tuesday, senior party officials said.

Ziarul Financiar, page 2

JTI

Romania's unit of tobacco producer JTI (2914.T) will cut 20 percent of the jobs, as a rise in excise duties swayed consumers to smoke less.

Ziarul Financiar, page 16

NOTE- For a diary of forthcoming Romanian events, double

click [RO/DIARY], and a calendar of east European economic indicators, see [CONV/DIARY].

For other related news, double click on: --------------------------------------------------------------- Romania Market Debt [RO-DBT] Romanian forex [RO-FRX] Romania Market Report [ROL/] Romanian money [RO-M] Emerging Market Debt [EMRG/DBT] Emerging forex [EMRG/FRX] All Emerging Markets news [EMRG] CEE indicators [CONV/DIARY] All East Europe News [EEU] E.Europe equities [.CEE] TOP NEWS -- Emerging markets [TOP/EMRG] TOP NEWS -- Convergence watch [TOP/EAST] Romanian indicators [RO/ECI] Main page of Reuters poll <RO/POLL1> ---------------------------------------------------------------

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Opposition 'wins' Slovakia poll




UPDATED ON:
Sunday, June 13, 2010
17:08 Mecca time, 14:08 GMT


Despite an opposition majority, Fico called the
result an "absolute success" [EPA]

Slovakia's centre-right opposition has won the biggest number of seats in the country's parliamentary elections, near-final results show.

The opposition party won 79 seats while the governing left-leaning party of Prime Minister Robert Fico won 62 seats in the 150-seat parliament, the statistics office said on Sunday after votes from 5,900 of the 5,929 polling stations were counted.

The results showed Fico's party achieved a clear overall win with 35 per cent of the vote. But four of the country's opposition parties won enough parliamentary seats to form a ruling centre-right coalition.

The result is a blow for Fico, who had promised to maintain the welfare state in contrast to the budget-cutting being implemented in several other European countries.

However, he called the result an "absolute success" that gives him a right to get a chance by Ivan Gasparovic, the country's president, to form a government.

"If we fail, we will respect a right-wing government, and become a tough opposition," he said.

Fico's other current junior coalition partner, the People's Party-Movement for Democratic Slovakia (LS-HZDS), failed to enter parliament.

The major opposition Slovak Democratic and Christian Union, whose free-market reforms earned the country Nato and EU membership, won 28 seats.

Opposition coalition

Iveta Radicova, its election leader, said talks with three other parties on forming a center-right coalition will start later on Sunday. If they succeed, she has a chance to become the first woman in the post of prime minister.

"The citizens of Slovakia have voted for responsibility," Radicova said.

The opposition had pledged to improve the business environment, create new jobs, reduce the deficit and fight corruption.

Turnout was 58.8 per cent, higher than the record low of 54.7 per cent four years ago, although some parts of the country have been recovering from flooding and Slovakia has been hit by a wave of hot weather.

Despite the country's ballooning budget deficit, the campaign was dominated by debate over a new Hungarian citizenship law, not the economy.

Slovak leaders criticised a move by Hungary last month to make it easier for ethnic Hungarians in neighboring countries, including 520,000 in Slovakia, to acquire Hungarian citizenship.

Slovakia, which called dual citizenship a security risk, responded with a law allowing authorities to strip Slovak citizenship from those who become Hungarian citizens.

 Source: Agencies
 
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PM says Greece 'turning the corner'



UPDATED ON:
Saturday, June 12, 2010
06:08 Mecca time, 03:08 GMT


Papandreou says Greece is now on the right track after making tough decisions [Reuters]

Greece is "turning the corner" as steps taken to fight its debt crisis start paying dividends, the country's prime minister has said.

"Today is the first time when I can look to the future with more optimism," George Papandreou told members of the Institute for International Finance (IIF) in Austria's capital, Vienna, on Friday.

"We have taken difficult decisions, tough but necessary decisions, and we are now witnessing the first signs that we are turning the corner."

After accumulating massive public debt and overspending, Greece avoided a default last month through the first instalment of a 110 billion euro ($131bn) rescue package from its 15 euro currency partners and the International Monetary Fund.

But in the first five months of this year, the deficit was down 40 per cent compared with the same period in 2009, he told the global association of bankers.

While revenues were up, expenditures had been severely curtailed, he added.

"We are still on the very start of our three-year economic programme, yet we are very far from our initial point eight months ago," he said, adding that his goal was a "complete reorientation" of the Greek economy.

Papandreou said his government made a conscious decision against default and against leaving the euro, a decision that made "good economic sense" and repeated a pledge that the country would pay its dues.

"We will honour our contracts with the financial community and yes, we will pay our debts," Papandreou told the IIF lobby group of some 400 of the world's top financial institutions.

'No free money'

"This - let me stress again - is no free money," he said. "It is loans to be paid back with substantial interest and it is a package to support change in Greece, not to return to negative practices.

"We take our mandate for change very seriously. And I have absolutely no intention to give up or back down," he said, adding: "I do not care if this is my only term as prime minister - I have done what I thought was necessary to save Greece from disaster."

"I do not care if this is my only term as prime minister - I have done what I thought was necessary to save Greece from disaster"

George Papandreou, Greek prime minister

The audience gave the premier a standing ovation and host Josef Ackermann, the IIF chairman, announced a U-turn on earlier scepticism about Greece's ability to overcome the crisis.

Ackermann, who is also chief of Deutsche Bank, Germany's largest bank, had said last month that he doubted Greece could turn the corner.

But on Friday he said: "Based on the personal commitment by the prime minister to implement the necessary reforms, even sacrificing his own political future, I'm convinced that it will enable [Greece] to allow them to service its debt."

At a European level, Papandreou also called for a "permanent stabilisation fund, a new European Monetary Fund financed by contributions of eurozone members proportionate to the size of their wealth".

And addressing recent, sometimes violent, protests at home over tough austerity measures, Papandreou said Greeks wanted a turnaround.

"Yes, these are painful changes, and no one denies the difficulties for our people," Papandreou said. "We are a proud people. We want to see change."

He said scrutiny by ill-informed analysts, sensationalist journalists and others was undermining Greece's efforts to restore confidence in its economy.

"We are asking for the necessary respect and calm so that we can do our work under the best of conditions: when our citizens are not terrorised every single day with rumours about losing their money and returning to the drachma [currency] or being expelled from the European Union," Papandreou said. "This is obviously nonsense."

 Source: Agencies
 
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Bosnian Serbs jailed over genocide



UPDATED ON:
Thursday, June 10, 2010
16:14 Mecca time, 13:14 GMT


Drago Nikolic (left) and Ljubisa Beara (centre) were both under the command of Ratko Mladic [AFP]

Two Bosnian Serbs have been convicted of genocide by a UN war crimes court and sentenced to life imprisonment for their role in the Srebrenica massacre of around 8,000 Muslim men and boys in 1995.

The judgment, delivered on Thursday, is the harshest ever by the International Criminal Tribunal for the former Yugoslavia (ICTY) in the Hague, the Netherlands.

The court judge said the "only appropriate sentence" for Vujadin Popovic, 53, and Ljubisa Beara, 70, both officers in the Bosnian Serb army, was "life imprisonment".

Beara was described by the court as the "driving force behind the murder enterprise," while Popovic's "robust participation" in the massacre demonstrated "he not only knew of this intent to destroy, he also shared it".

'Intent on destroying'

The judges said Popovic, who was the chief of security for the Bosnian Serb Army, organised and watched the execution of prisoners.

He "knew that the intent was not just to kill those who had fallen into the hands of Bosnian Serb forces, but to kill as many as possible," the judgment said.

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It added that Beara co-ordinated the murder of Muslim prisoners and organised their mass burials, saying he "was intent on destroying a group by killing all the members of it within his reach".

The slaughter in Srebrenica, a UN-protected enclave overrun by Bosnian Serb forces, was the worst massacre on European soil since World War Two.

Tens of thousands of civilians were evicted from their homes, in what the UN court has called a deliberate attempt to wipe out the Muslim community from that area.

Four other military officers and a police official found guilty of related offences were also given jail sentences for between five and 35 years by the UN court on Thursday.

Ljubomir Borovcanin, 50, deputy commander of a special Bosnian Serb police unit, was sentenced to 17 years, Vinko Pandurevic, 50, commander of the brigade that led the Srebrenica attack, got 13 years and Drago Nikolic, 52, the brigade's chief of security, was given 35 years in jail.

Nikolic, Popovic and Beara were all in the chain of command under General Ratko Mladic, the Bosnian Serb commander who remains a fugitive 15 years after his indictment.

Radivoje Miletic, 61, and Milan Gvero, 71, generals in the Bosnian Serb Army high command, were jailed for 19 and five years respectively for crimes against humanity.

All seven had pleaded not guilty.

Karadzic trial

It was the largest trial conducted at the ICTY to date, with 315 people testifying in court proceedings that began in August 2006.

The verdict could have an indirect bearing on the trial of Radovan Karadzic, the former Bosnian Serb leader, which began last year following his capture in Belgrade in 2008.

Karadzic, 64, is on trial for 11 counts of war crimes, crimes against humanity and genocide charges including the Srebrenica massacre.

In recent months, Serbia has stepped up its efforts to arrest Ratko Mladic, accused by the ICTY of masterminding the 44-month siege of Sarajevo and the
Srebrenica massacre.

 Source: Agencies
 
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Spain trade unions set to strike


UPDATED ON:
Tuesday, June 08, 2010
08:26 Mecca time, 05:26 GMT


Zapatero's government plans to reduce defict by
$19bn in 2010 and 2011 [REUTERS]

Spanish public sector trade unions are preparing to hold strikes around the country in protest against government austerity measures.

Rallies are also planned for Tuesday following government plans last month to cut public sector workers' wages by five per cent to reduce the country's large state deficit.

"We think quite a lot of people will follow the strike and this strike is not going to be the last protest," Juan Antonio Olmos, secretary general of the public sector union Comisiones Obreras (CCOO), said on Monday.

There are fears that Spain will fall into a similar situation to that of Greece, which in the face of a crippling debt crisis has been forced to take large bailout loans from the EU and International Monetary Fund (IMF).

Unions in Spain have said that Jose Luis Rodriguez Zapatero's government should attempt to cut its deficit by raising revenue.

The planned cuts aim to reduce the deficit by $19bn in 2010 and 2011.

It is hoped that the moves will bring the deficit down from 11.2 per cent of gross domestic product in 2009 to 9.3 per cent in 2010 and 3 per cent in 2013.

The measures will also see a cut in overseas aid, state investment, salaries for some senior government members, some tax-breaks for couples with babies, and automatic inflation-adjustments for pensions.

Spain has an unemployment rate of more than 20 per cent, the highest in Europe.

The country emerged tentatively from recession in the first quarter of 2010 with growth of 0.1 per cent.

 Source: Agencies
 
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Google News Alert for: Europe News


07 June 2010


Worries About Europe Rattle Asian Stocks
New York Times (blog)
The combination of worrying news from both the United States and Europe sent already deeply nervous investors around the globe heading for the exits: Wall ...
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Global air industry sees profit, warns on Europe
Reuters
But Europe, mired in bad debts and bad feelings from flight cancellations during the ash crisis, is expected to lag the turnaround -- particularly if a ...
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Talend Selected as Red Herring Top 100 Europe Winner
MarketWatch (press release)
The Red Herring Top 100 award recognizes the leading private companies from Europe, celebrating the startups' innovations and technologies across their ...
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Staples, Inc. Appoints Pete Howard Senior Vice President of Staples Southern ...
MarketWatch (press release)
Howard will report to Rob Vale, president of Staples Europe. "As a 10-year Staples veteran, Pete has a great track record in driving Web and catalog sales ...
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Singapore Dollar Falls On Europe Debt Woes, Weak US Jobs Data
Wall Street Journal
SINGAPORE (Dow Jones)--The Singapore dollar fell to its lowest in four months against the greenback because of fresh sovereign debt troubles in Europe ...
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Hoarding Treasuries Helps Dealers as Europe Woes Rise
BusinessWeek
The combination of growing concern about potential defaults in Europe and the lowest inflation rate in four decades is boosting demand for US fixed-income ...
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US Rebound Seen Slowing Most Since 2002 on Europe Debt Woes
BusinessWeek
He singled out Europe's debt problems and US state-government budget cuts as among the forces restraining growth and endangering the economic rebound. ...
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Yuan Forwards Weaken on US Payrolls, Europe's Debt Concerns
BusinessWeek
By Bob Chen June 7 (Bloomberg) -- Yuan forwards dropped the most in two weeks as US payrolls data fell short of economists' estimates and Europe's debt ...
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BP, Chloride, Endesa, Roche, Telefonica: Europe Equity Preview
BusinessWeek
The Stoxx Europe 600 Index fell 1.8 percent to 244.53. The Stoxx 50 Index slid 1.8 percent to 2375.56. The Euro Stoxx 50 Index, a benchmark for nations ...
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Google News Alert for: Europe News



06 June 2010


Debtors' Prism: Who Has Europe's Loans?
New York Times
By JACK EWING Europe's banks have a pile of debt from Greece, Spain and Portugal. Few have disclosed details. Greece's national railway received financing ...
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Ha'aretz
Thousands of anti-Israel protesters take to streets across Europe
Ha'aretz
'We want justice for our comrades killed!' says Berlin protester. 'We insist on an end to the insane blockade of Gaza and freedom for our brother ...
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Europe Crisis Shows More Reserve Currencies Needed, VTB Says
BusinessWeek
By Jason Folkmanis and Van Nguyen June 6 (Bloomberg) -- Exchange-rate swings stemming from Europe's debt crisis have highlighted the risks of holding ...
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US credit cards sometimes don't work in Europe
Seattle Times
Most will, but not having a chip-and-pin card can cause problems when travelers try to use their credit cards at some places in Europe, including at some ...
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D-Day led to victory in Europe
Jackson Sun
Yes, May 8 is officially designated Victory in Europe Day. But the actual surrender documents were signed at 7:41 pm CST on Sunday, May 6, in the United ...
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The river boom: Cruising through the heart of Europe
MiamiHerald.com
And when we docked at a river city, we could step off the ship and walk right into the center of things -- quick entry to Europe's main cities, ...
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Reuters
Analysis: G20 doesn't even try to put brave face on debt mess
Reuters
The two days of talks were remarkable for ministers' candor about the extent of the Europe's debt crisis and the imperative of appeasing the bond market, ...
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Medvedev says Europe must stabilise currency
Buenos Aires News
German Chancellor Angela Merkel and Russian President Dmitri Medvedev have spoken to the media on their thoughts about the European currency crisis and ...
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U.S. stock market to start week with worry list
MarketWatch
Undermining confidence further was a fresh round of credit jitters in Europe that came as Hungary's new government added to sovereign-debt worries, ...
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Google News Alert for: Europe News


05 June 2010


Canada: Substantial G-20 Concern Over Europe-Crisis Risks
Wall Street Journal
"The reality is there is substantial concern over what's occurring in Europe" and the risks associated with it, Flaherty said at a news conference after the ...
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Geithner Says Best Way for Europe to Help Is Implement Rescue
BusinessWeek
By Timothy Homan June 5 (Bloomberg) -- Europe's top priority should be the implementation of its plan to resolve the region's debt crisis and people “want ...
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Treasuries Rise on US Labor Market, Europe's Debt Turmoil
BusinessWeek
“The sovereign-risk picture in Europe seems to be lingering, and US fundamentals are not as strong as the market thought, sustaining a flight-to-quality bid ...
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FSB's Draghi Urges Europe to Publish Bank Stress-Test Results
BusinessWeek
By Mark Deen June 5 (Bloomberg) -- Financial Stability Board chief Mario Draghi urged European authorities to publish the results of stress tests on banks, ...
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Hungary rekindles investor fears over emerging Europe
Moneycontrol.com
Dire warnings by Hungary's new government have reignited market concern about the fiscal health of countries in eastern Europe, but many analysts believe ...
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WHAT ABOUT HUNGARY? NEW ATTACK ON EUROPE'S FINANCIAL SITUATION?
Emerginvest
Europe's struggles are more or less known by now. On the one hand we saw that EU leaders worked out a large bailout package (USD 900 billion) for weak ...
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Bank stocks hit by employment report, Europe
MarketWatch
Read more on Europe's sovereign debt fears. US financial stocks were facing across-the-board pressure Friday -- the heaviest decliners included Prudential ...
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NYMEX-Crude ends down on jobs data, Europe's woes
Reuters
NEW YORK, June 4 (Reuters) - US crude oil futures ended 4 percent lower on Friday as disappointing US employment data and fresh fear about Europe's bank ...
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Treasury Chief Economist: Europe Won't Derail US Job Growth
Wall Street Journal
By Meena Thiruvengadam Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Europe's financial woes likely won't lead to an erosion of US job gains, ...
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Europe and jobs keep stocks' anxiety high
Reuters
NEW YORK (Reuters) - US stocks could face further pressure next week unless investors get some relief from worries about Europe, jobs and the toll they ...
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Google News Alert for: Europe News


04 June 2010


Euro-damage: How the union made Europe's weaklings even weaker
CNNMoney
"There will be no single currency in Europe," intoned Uncle Miltie. "The US is an appropriate zone for a single currency. Europe is not, because its ...
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CANADA FX DEBT-C$ falls on Europe woes, shrugs off strong jobs
Reuters
... which looks like more woes for the debt situation in Europe," said Steve Butler, director of foreign exchange trading at Scotia Capital. ...
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MARKET COMMENT: Commodity-Sector Firms Lead Gains In Europe
Wall Street Journal
Of regional benchmarks in Europe, the UK FTSE 100 index added 1.2% to 5211.18, the German DAX index climbed 1.2% to 6054.63 and the French CAC-40 index ...
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US STOCKS-Futures fall, tracking Europe, ahead of jobs data
Reuters
... the country's budget was in "much worse" condition than the previous government had stated, raising new fears about sovereign debt burdens in Europe. ...
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Asia stocks mixed before jobs report; Europe gains
The Associated Press
Evidence the US economic recovery is taking deeper root would give markets some respite from worries about Europe's debt crisis and the prospect of slowing ...
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Europe Default Insurance Jumps
Wall Street Journal
But if it does just that, worries about the future of Europe's market may keep investors away by increasing uncertainty. The result: Odd bond-market ...
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Hildebrand Says Europe Will Do What's Needed to Fight Crisis
BusinessWeek
“I'm totally convinced that Europe will take all the necessary measures to stabilize the situation and in the long- term implement necessary reforms in ...
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FTSE falls as banks hit by Europe debt fears
Reuters
LONDON (Reuters) - Britain's top shares reversed early gains by midday on Friday, as euro zone debt concerns resurfaced with the focus on French bank ...
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Europe needs further action on debt crisis-Chrysler CEO
Reuters
By Soyoung Kim DETROIT, June 3 (Reuters) - The European bailout of Greece may have prevented "catastrophic" results but Europe needs to take further action ...
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United Airlines plans fuel-saving flight to Europe
The Associated Press
MINNEAPOLIS — United Airlines says it will demonstrate new fuel-saving methods on two flights between Europe and the US on Saturday. ...
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Google News Alert for: Europe News


03 June 2010


Resource Stocks Lead Rally in Europe
Wall Street Journal
The Stoxx Europe 600 Index was up 1.9% at 250.04. London's FTSE 100 Index was up 1.8% at 5244.01, Frankfurt's DAX was 1.7% higher at 6083.51 and the CAC-40 ...
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Europe Manufacturing, Services Growth Slowed in May
BusinessWeek
By Simone Meier June 3 (Bloomberg) -- Growth in Europe's services and manufacturing industries slowed less than initially estimated in May. ...
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Airline finances improve in 1st qtr except in Europe
Reuters
Strong improvements were recorded in all regions except Europe, where net losses deepened, with airlines in the sample from Latin America and the ...
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Commodity firms, autos lead broad Europe gains
MarketWatch
The Stoxx Europe 600 index (STOXX:ST:SXXP) rose 1.9% to 250.06, the fourth straight day of gains for the index. BP hits another engineering snag and ...
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CNN International
World Bank chief: Asia has lessons for Europe
CNN International
(CNN) -- The head of the World Bank says that in the current crisis in Europe, lessons can be learned from Asia. "What I saw at the end of last year was ...
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Oil Slips as Stocks Slide in Europe
Wall Street Journal
... helped by positive US economic data, but held down by lingering worries about Europe's debt situation and an oversupplied crude market. ...
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Reuters
Financo sees debt woes weighing on Europe retail
Reuters
NEW YORK (Reuters) - Europe's brewing debt crisis will likely spread to countries such as France and Britain and deeply hurt consumer demand there over the ...
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Mayer cancels Europe shows
Straits Times
LOS ANGELES - ILLNESS has forced singer John Mayer to cancel his shows in Amsterdam, Madrid and Manchester, a statement on his website said on Thursday. ...
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Reuters
Gold eases as data improves risk appetite
Reuters
LONDON (Reuters) - Gold fell on Thursday as risk aversion receded due to robust economic data in Europe and the United States, but brisk physical demand ...
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Google News Alert for: Europe News


02 June 2010


Equity Indexes Decline in Europe and Asia
New York Times
By DAVID JOLLY and BETTINA WASSENER Stocks fell Wednesday in Europe and Asia, as BP led oil and gas shares lower. The Japanese market sagged after Prime ...
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Oil Stocks Weigh on Europe's Markets
Wall Street Journal
The Stoxx Europe 600 index was down 1.3% at 242.23. London's FTSE 100 lost 1.5% to 5084.49. Frankfurt's DAX declined 1.6% to 5883.81 and Paris's CAC-40 was ...
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Brazil Stocks Close Lower On Europe Woes, Wall Street
Wall Street Journal
SAO PAULO (Dow Jones)--Brazilian share prices closed sharply lower Tuesday on continued worries about sovereign risk in Europe and persistent declines in ...
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US Two-Year Note Yield Near One-Week Low on Europe Concern
BusinessWeek
By Matthew Brown June 2 (Bloomberg) -- US two-year Treasury note yields held near the lowest in a week on concern that Europe's fiscal crisis will be a drag ...
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Argentina Stocks Sink On Europe Worries; Bond Swap Extended
Wall Street Journal
... weeks due to the turmoil in Europe has taken some of the shine out of the deal and made some hesitant to accept the two-thirds discount being offered. ...
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Copper Drops a Third Day on China, Europe Concerns: LME Preview
BusinessWeek
... June 2 (Bloomberg) -- Copper dropped for a third day in London on concern that demand will fall as manufacturing growth slows in China and Europe. ...
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BEFORE THE BELL:US Stock Futures Drop On China, Europe And BP
Wall Street Journal
Overseas, the Nikkei 225 slipped 0.6% in Tokyo, while the European losses were more steep, with the Stoxx Europe 600 retreating 1.5% in early afternoon ...
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HK Shares End Lower On China Fall; Europe Problems Still Weigh
Wall Street Journal
HONG KONG (Dow Jones)--Hong Kong shares ended lower Tuesday, tracking declines on mainland China's stock market amid lingering concerns over the euro zone's ...
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Deal watch: Costa Cruises marks down summer voyages in Europe
USA Today
The line Tuesday announced it was marking down peak-season summer voyages in Europe to $699 per person, based on double occupancy. ...
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Harrah's, Hard Rock Gamble $8 Billion on East Europe
BusinessWeek
By James M. Gomez and Radoslav Tomek June 2 (Bloomberg) -- On the verdant pastureland where razor wire used to divide Europe, Americans are placing an $8 ...
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Turkey condemns flotilla 'massacre'



UPDATED ON:
Tuesday, June 01, 2010
22:14 Mecca time, 19:14 GMT


Erdogan said Israel's attack was an attack 'on international law' [Reuters]

Recep Tayyip Erdogan, Turkey's prime minister, has said that Israel should be "punished" for its "bloody massacre" of activists following its attack on a humanitarian aid convoy that was heading to the Gaza Strip.

Monday's attack left at least 10 passengers on board the Freedom Flotilla dead and dozens more injured.

Erdogan warned that no one should test Turkey's patience and said the Israeli action was an attack "on international law, the conscience of humanity and world peace".

The raid has led to condemnation from around the world, with the United Nations calling for an inquiry.

'Extraordinarily strong'

Of the 682 people from 42 countries aboard the six ships that were raided, 380 are believed to be Turkish.

LATEST COVERAGE

  Live updates: Aftermath of Israel's flotilla raid
  Recounting the mid-sea horror
  Flotilla takes media centre-stage
  Gallery: Protests around the world

At least four of those killed in the attack were Turkish nationals.

In a speech to legislatorson Tuesday, Erdogan said: "It is no longer possible to cover up or ignore Israel's lawlessness.

"The international community must from now on say 'enough is enough'.

"Dry statements of condemnation are not enough ... there should be results."

Anita McNaught, Al Jazeera's correspondent in Istanbul, said Erdogan's speech was "extraordinarily strong".

She said he "mentioned the unmentionable, saying that Israel acts because it has powerful friends".

Turkey called for a strong international response to the raid, with Erdogan saying he would be speaking to Barack Obama, the US president, later in the day.

Nato demand

The ships were carrying 10,000 tonnes of humanitarian aid for Gaza when they were boarded by Israeli commandos.

Israel says its troops, who took the ships to the port of Ashdod after seizing them, acted in self-defence after being attacked by those on board.

Activists who were injured are being treated in hospitals while 480 others have been detained and subjected to interrogations.

Another 48 activists have been deported to their respective countries.

The Israeli government said on Tuesday that it would hand over 124 activists to Jordan later in the day.

Anders Fogh Rasmussen, the Nato secretary general, called on Israel on Tuesday to immediately release those people and boats still held after the raid.

Rasmussen, speaking after an emergency meeting of the military alliance requested by Turkey, said: "As a matter of urgency, I ... request the immediate release of the detained civilians and ships held by Israel."

France also demanded the immediate release of the activists.

"France demands the immediate release of the boats and of all the civilians who were on board," said Francois Fillon, the prime minister, noting that nine French nationals were among those held.

UN probe

Earlier on Tuesday, the UN Security Council condemned the deaths caused by Israel's attack.

IN DEPTH

 

  Blog: Israel defending the indefensible
  Twitter: Sherine Tadros
  Pictures: Protests around the world
  Outrage over Israeli attack
  Previous activists killed by Israel
  Focus: On board the Freedom Flotilla
  Focus: Gaza's real humanitarian crisis
  Video: Israel's Gaza PR offensive
  Programmes: Born in Gaza

In a formal statement adopted after more than 10 hours of closed-door negotiations, the council requested the immediate release of ships and civilians held by Israel and called for an impartial investigation.

France, Russia, China and the UK also called for the blockade of Gaza to be lifted.

"It is clearer than ever that Israel's restrictions on access to Gaza must be lifted in line with Security Council Resolution 1860," Mark Lyall Grant, the British ambassador, said on Tuesday.

"The current closure is unacceptable and counterproductive."

The United States, Israel's traditional ally, did not request specifically that Israel end its blockade on of Gaza but it hinted that the measure should at least be eased.

Alejandro Wolff, US deputy permanent representative, said that Washington was "deeply disturbed by recent violence and regrets tragic loss of life and injuries".

White flag

The statements reflected the international community's strong disapproval of Monday's events in the high seas, when Israeli soldiers stormed the six ships in international waters about 65km off the Gaza coast.

Al Jazeera's Jamal Elshayyal, on board the lead ship Mavi Marmara, said troops opened fire even after passengers had raised a white flag.

Elshayyal is reportedly being held at a detention facility at Tel Aviv's Ben Gurion airport, together with two of his colleagues.

Ayman Mohyeldin, Al Jazeera's correspondent in Ashdod, said: "We are still trying to get information in terms of the condition of the passengers.

"An identification and interrogation process has gotten under way, to identify the individuals and then provide them with the option of being deported immediately or sent to prison here."

 Source: Al Jazeera and agencies
 
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Eurozone unemployment rate rises




UPDATED ON:
Tuesday, June 01, 2010
19:49 Mecca time, 16:49 GMT


The euro has sunk to a four-year low amid concerns over deficit problems in the region [AFP]

The unemployment rate in the countries that share the euro has hit its highest level in almost 12 years, statistics have shown.

Eurostat said on Tuesday that the jobless rate in the 16-nation eurozone had climbed to 10.1 per cent, or 15.8 million people, in April, from 10 per cent a month earlier.

Some 25,000 more people were seeking work in April compared to March and 1.27 million jobs have disappeared over the past year.

The figures come as the euro sank to a new four-year low of $1.2115 on concerns about the European financial sector's ability to weather the region's debt and deficit crisis.

Signs of stability

However a drop in the number of jobless people in Germany could signal that the labour market may be stabilising.

"Despite the uptick in the euro area unemployment rate, we view these latest data as being relatively positive," James Ashley, an economist at Barclays Capital, told the Reuters news agency.
 
"The level of unemployment increased by a mere 25,000 month-on-month in April as increases in France, Italy, and Spain were largely counterbalanced by a decline in Germany."

"Although there is widespread divergence in labour market dynamics within the euro area, we continue to expect the overall figures to stabilise over the next few months," he said.

The latest German data showed it also fell the 11th month running in May, by a seasonally adjusted 45,000 month-on-month, far more than expected as labour reforms paid dividends and a weaker euro boosted exports.

But some analysts have said a turnaround in the labour market was still some way off, forecasting unemployment would remain a drag on the economy.

 Source: Agencies
 
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Google News Alert for: Europe News


01 June 2010


Stocks Down in Europe Over Job Concerns
New York Times
By DAVID JOLLY PARIS — Stocks fell Tuesday in Europe after an employment report raised new concerns about the health of the euro-zone economy, and shares ...
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Futures Track European Selloff
Wall Street Journal
A warning by the European Central Bank that European banks could suffer a further €195 billion ($240 million) in write-downs "is putting a question mark ...
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Europe Banks Face Bond Sales Risk, Higher Loan Losses
BusinessWeek
By Christian Vits and Christopher Anstey June 1 (Bloomberg) -- Europe's banks will have to write off 195 billion euros ($237 billion) of bad debts by 2011 ...
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World markets fall amid China, Europe jitters
BusinessWeek
In Europe, investors continued to fret over whether austerity measures to address Europe's debt mountain will send the region back into recession. ...
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Fitch Downgrades Spain's Credit Rating
New York Times (blog)
If the American markets ever needed a reminder of how volatile Europe has made them this month, they got it on Friday. Right after lunch, the Fitch ratings ...
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Ryanair to Pay Dividend as It Swings to a Profit
Wall Street Journal
In the first dividend payment since the company went public in 1997, Europe's largest budget airline will pay out €500 million ($615.2 million), ...
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Price of crude-oil futures fall as dollar gains
MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures declined Tuesday, lately off nearly $2 a barrel, as worries about Europe's debt troubles had investors flocking ...
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Washington Post
Bernanke says global recovery depends on emerging markets, central banks
Washington Post
But now, with rising concerns about the impact of Europe's debt crisis on the recovering US economy, more economists are expecting the Fed to sit tight ...
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Asian Currencies Weaken as China, European Manufacturing Slows
BusinessWeek
“This could be the first sign of China feeling the slowdown in Europe, and that's going to affect the rest of Asia as well,” said Wan Suhaimi Saidi, ...
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Corn, Wheat Fall on Concern Europe Debt Crisis May Curb Demand
BusinessWeek
By Sungwoo Park June 1 (Bloomberg) -- Corn, wheat and soybeans declined in Chicago, falling for a second day on speculation that Europe's debt crisis will ...
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Google News Alert for: Europe News



31 May 2010


European Shares Edge Up
Wall Street Journal
By BARBARA KOLLMEYER European stocks pushed higher Monday in subdued trading, despite a ratings downgrade for Spain late last week. The pan-European Stoxx ...
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New York Times
Fears Rise in Europe Over Potential for Deflation
New York Times
By JACK EWING FRANKFURT — If the European Central Bank has one monetary dragon it considers essential to slay, it is inflation. Thierry Charlier/Associated ...
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European economic sentiment dips in May
MarketWatch
By Steve Goldstein, MarketWatch LONDON (MarketWatch) -- European economic sentiment that had been steadily improving from the lows of 2009 took a dip ...
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China Yuan Forwards Decline as Europe's Debt Woes Deter Change
BusinessWeek
Chinese Premier Wen Jiabao said today in Tokyo his government will maintain the value of the yuan at “a rational level,” adding that Europe's crisis may ...
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Fed's Evans Signals Europe's Crisis May Delay Fed Rate Rise
BusinessWeek
By Aki Ito May 31 (Bloomberg) -- Federal Reserve Bank of Chicago President Charles Evans indicated that the European sovereign debt crisis will prompt the ...
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Germans to the front in Europe
MarketWatch
For the first time, problems in the periphery of Europe are striking home in the center of the euro area. Germany's reaction to what Chancellor Angela ...
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Japan's Bonds May Rise on Concern Europe's Crisis Will Worsen
Bloomberg
By Yoshiaki Nohara May 31 (Bloomberg) -- Japan's bonds may rise for the first time in four days as concern Europe's credit crisis will worsen boosts demand ...
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Oil Prices Inch Higher
Wall Street Journal
... rating agency downgraded Spain's debt rating to double-A-plus from triple-A late Friday revived negative sentiments across financial markets in Europe. ...
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Will worries over Europe curb consumer spending?
The Associated Press
NEW YORK — Europe has spooked stock investors. Will it spook shoppers, too? Lately Americans have started spending a bit more, giving a lift to the economy ...
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For Europe's Banks, M&A Of Necessity And Opportunity
Wall Street Journal
European banks face a perfect storm of higher interbank lending rates, rising prices for credit default swaps, sovereign-debt uncertainty and a squeeze on ...
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Google News Alert for: Europe News


30 May 2010



New York Times
How Far Will Europe's Economic Tremors Reach?
New York Times
From one financial angle, troubles in Greece and elsewhere in Europe may have little effect on America's economy. By PAUL J. LIM THE debt crisis in Europe ...
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The Transatlantic Crisis: Europe's Endangered Banks
New York Times
So far, Europe's troubles have not hurt American banks, which own little debt from beleaguered Greece, Portugal or Spain. But the American and European ...
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AFP
Merkel feels the heat from Europe's financial fires
AFP
BERLIN — Barely half a year into her second term at the head of Europe's biggest economy, German Chancellor Angela Merkel has found herself under fire at ...
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Silver lining in Europe's debt crisis
Philadelphia Inquirer
This time the financial turmoil emanates from Europe. It began in Greece, whose economy never emerged from recession and whose fiscal problems are the most ...
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The Voice of Russia
Europe loath to appreciate Russian
The Voice of Russia
Given that the Crystal Microphone ultimately went to Lena Meyer-Landrut of Germany, good music is something Europe dislikes, according to Nalitch. ...
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Vanguard Europe acts on bond index funds
Financial Times
By Sophia Grene Vanguard Europe has decided to make changes to nine bond index funds to reflect concerns that market structure may change as central banks ...
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The Guardian
Europe pressures Westminster on votes for prisoners
The Guardian
"We understand from their statements that the committee of ministers at the Council of Europe takes this matter of protracted non-compliance very seriously ...
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Qatar Shares Rise on Optimism Drop Overdone; Orascom Soars
BusinessWeek
European stocks posted a weekly gain as the Stoxx Europe 600 Index rebounded from an eight-month low on speculation the economy is strong enough to weather ...
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Travel Q&A: More insight into foreign currency conversion
San Jose Mercury News
By Ann Tatko-Peterson Q: My mom and I are headed for Europe in July. Would you recommend we use euros for all our cash transactions? ...
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Europe Ahead: Dominate sectors in Europe for release alongside euro zone GDP
ecPulse
The key sectors that fuel economic growth in Europe are due for release this week, as the United Kingdom and the euro zone are releasing their manufacturing ...
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Google News Alert for: Europe News


29 May 2010


A weaker euro also could give Europe a needed boost
Philadelphia Inquirer
Many economists think the 16-country currency is headed for a further significant decline because of Europe's debt crisis. Some are even predicting that by ...
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France to host Europe's 2016 finals
San Francisco Chronicle
The result was announced by UEFA's French President Michel Platini, who captained his country to the European title in 1984 on home soil. ...
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Treasury 10-Year Yield Falls Most in 17 Months on Europe Crisis
BusinessWeek
Investors sought the safety of government bonds as European leaders set austerity measures after agreeing on an almost $1 trillion rescue plan. ...
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UEFA aim to level the playing field - Opinion
ESPN
Those who fail to comply could ultimately be barred from entering European competition but this depends on the amount of losses and is a last resort. ...
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US stocks end worst May in years
Washington Post
In Europe, debt contagion is worsening. Fitch's downgrade of Spain (which was downgraded by Standard & Poor's in April) follows similar ratings cuts for ...
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European Stocks Post Weekly Advance, Led by Mining Companies
BusinessWeek
By Maud van Gaal May 29 (Bloomberg) -- European stocks posted a weekly gain as the Stoxx Europe 600 Index rebounded from an eight-month low on speculation ...
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Europe's unions caught between members and markets
Reuters
LONDON (Reuters) - European trade unions are facing up to a difficult choice: acquiesce to austerity measures and infuriate members, or fight them with ...
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Spain's credit rating ends dismal month, fuels fears over Europe debt crisis
CNN (blog)
Oil prices ended lower Friday after Fitch downgraded Spain's credit rating, renewing investors' fears that Europe's debt crisis could cut global demand for ...
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US profits to outweigh Europe crisis: Barclays
Reuters
NEW YORK (Reuters) - US corporate profits are rising more than 30 percent year over year, which may help boost US growth in the midst of Europe's debt ...
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Oil moves above $75 amid improving economic mood
BusinessWeek
By early afternoon in Europe, benchmark crude for December delivery was up 66 cents to $75.21 a barrel in electronic trading on the New York Mercantile ...
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Google News Alert for: Europe News


28 May 2010


European stocks climb after big Wall Street gains
The Associated Press
European stock markets rose Friday after big gains on Wall Street as China's expression of confidence in Europe's ability to restore its financial stability ...
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Oil Set for Weekly Gain After China Affirms Support for Europe
BusinessWeek
By Ben Sharples May 28 (Bloomberg) -- Oil is poised for its first weekly gain in four weeks, after China affirmed its commitment to investing in Europe and ...
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Europe stocks turn flat as relief rally loses steam
Reuters
Live Coverage PARIS May 28 (Reuters) - European stocks pared early gains and briefly turned flat in morning trade on Friday, as a recovery rally following a ...
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European shares up for third straight session
MarketWatch
By Sarah Turner, MarketWatch LONDON (MarketWatch) -- European shares advanced Friday for the third day in a row although gains weren't as strong as in ...
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China Stocks Rise on Europe Support for Best Week Since January
BusinessWeek
“It looks like Europe's debt crisis has been contained for the moment and that will help lift market sentiment,” said Zhang Kun, a strategist at Guotai ...
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Treasuries Rise, Set for Monthly Gain, on Europe Fiscal Concern
BusinessWeek
By Paul Dobson and Theresa Barraclough May 28 (Bloomberg) -- Treasuries rose, heading for their biggest monthly gain since January, as concern the European ...
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Emerging-Market Stocks Gain Third Day on Easing Europe Concerns
BusinessWeek
Improved earnings “are encouraging while fears of a spreading debt crisis in Europe have bottomed out.” China's Shanghai Composite Index gained 0.5 percent, ...
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Euro Rises for Second Day on Speculation Short Traders Exiting
BusinessWeek
The 16-nation currency pared its sixth straight monthly drop against the dollar as the Stoxx Europe 600 Index climbed for a third straight day. ...
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Futures Post Slight Gains, Oil Climbs
FOXBusiness
By Ken Sweet Stock futures were posting modest gains Friday as US markets followed Europe and Asia higher while waiting several economic reports later this ...
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30-year fixed mortgage rate falls to near record lows
Los Angeles Times
By E. Scott Reckard, Los Angeles Times The debt crisis in Europe that has unhinged global stock markets also has helped push US mortgage rates back toward ...
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Google News Alert for: Europe News


27 May 2010


GLOBAL MARKETS: European Stocks, Euro Rise On China Denial
Wall Street Journal
By Michele Maatouk & Ishaq Siddiqi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European stocks rose Thursday, along with the euro, as investors took heart ...
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China Support for Europe Bolsters Markets
New York Times
By DAVID JOLLY and BETTINA WASSENER PARIS — Equity markets rose Thursday in Europe and Asia after the Chinese authorities said Europe would remain one of ...
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Schaeuble: US, Europe Financial Rules Will Differ
Wall Street Journal
By Patrick McGroarty BERLIN (Dow Jones)--Europe and the US need to work more closely to tighten financial regulation, but their solutions won't necessarily ...
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WSJIDEBATE: Has Europe Benefited from a Common Currency?
Wall Street Journal (blog)
The Greek crisis has led to similar accusations against the European Monetary Union in general and the euro in particular. No-one really cared to find out ...
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Oil rises above $72 as traders mull Europe impact
The Associated Press
SINGAPORE — Oil prices rose to above $72 a barrel Thursday in Asia as investors mulled the impact slower European economic growth could have on global ...
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Fed's Bullard: contagion from Europe to US unlikely
Reuters
Live Coverage STOCKHOLM, May 27 (Reuters) - A top Federal Reserve official said on Thursday that he did not expect contagion from Europe's fiscal problems ...
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Europe Warns Search Companies Over Data Retention
PC World
In a news release, the working party singled out Google, saying that company's 95 percent market share in some European countries means it "has a ...
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Yuan Forwards Weaken as Europe Crisis Deters Appreciation Bets
BusinessWeek
By Patricia Lui May 27 (Bloomberg) -- Yuan forwards declined, nearing a nine-month low, on concern Europe's debt crisis will keep policy makers from ...
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On verge of another crisis, Geithner seeks economic stability in Europe
Washington Post
By Howard Schneider and Anthony Faiola FRANKFURT -- US Treasury Secretary Timothy F. Geithner dined on Wednesday night with European Central Bank President ...
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World stocks rise on Asian, US growth hopes
The Associated Press
LONDON — World stocks rose Thursday as investors put Europe's debt problems behind them — for now — and instead concentrated on strong Asian economic ...
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Google News Alert for: Europe News


26 May 2010


European Shares Rebound
Wall Street Journal
By ISHAQ SIDDIQI European stock markets jumped Wednesday, as Wall Street's late-session rebound overnight boosted confidence despite continuing worries ...
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OECD Sees Risks to Recovery From Europe and Asia
New York Times
By MATTHEW SALTMARSH PARIS — Just as economic growth is gathering steam globally, the threat of overheating in parts of Asia and Europe's budget deficit ...
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US Treasury Sec arrives in Europe for crisis talks
Reuters
The US treasury secretary will later travel to Frankfurt for a dinner meeting with European Central Bank President Jean-Claude Trichet. ...
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World stocks up, but traders wary on Europe, Korea
The Associated Press
LONDON — World stock markets rebounded Wednesday following steep losses the previous day, but sentiment remained fragile amid fears Europe's debt crisis ...
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Most Japanese Stocks Retreat on European Concern; Toyota Falls
BusinessWeek
By Norie Kuboyama and Toshiro Hasegawa May 26 (Bloomberg) -- Most Japanese stocks fell amid concerns the European debt crisis will worsen. ...
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PRECIOUS-Gold gets lift as Europe, Korea tensions persist
Reuters
By James Regan SYDNEY, May 26 (Reuters) - Gold made modest gains on Wednesday as safe-haven buying intensified over European debt worries and mounting ...
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AFP
Europe unveils plans for insolvency tax on banks
AFP
BRUSSELS — Europe on Wednesday unveiled plans to levy a new insolvency tax on banks but insisted the proceeds will remain within national borders and will ...
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Markets hit pothole on fears over Europe
Calgary Herald
By Dina O'Meara, Calgary Herald May 26, 2010 2:09 AM C anadian markets opened the week shaken by investor jitters on Europe's deepening financial crisis and ...
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The Greek Bailout's Two Secret Exit Clauses: Why Europe Is Now Cheering For ...
Prison Planet.com
When all of Europe rushed into its rescue package two weeks ago (first half a trillion, market red, then a full trillion, market green), the one thing that ...
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Fed's Bullard: Europe Woes Unlikely to Trigger Another Recession
Wall Street Journal (blog)
By Michael S. Derby European financial troubles are unlikely to send the world back into recession, and the US may actually benefit from unsettled markets ...
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Cyprus re-unification talks begin




UPDATED ON:
Wednesday, May 26, 2010
12:00 Mecca time, 09:00 GMT


Cyprus has been a major source of conflict between Greece and Turkey  [AFP]

Re-unification talks between the Turkish-held Northern Cyprus and the Greek-dominated Republic of Cyprus in the south have recommenced after a two month hiatus.

Demetris Christofias, the Greek Cypriot leader, and Dervis Eroglu, the recently elected Turkish Cypriot leader, met on Wednesday at a United Nations compound in Nicosia which straddles the buffer zone between the island's two populations.

"There is no doubt that a Cyprus solution is doable," Alexander Downer, the UN envoy for Cyprus who facilites negotiations, said.

Turkish troops invaded Cyprus's north in 1974 after a brief Greek Cypriot coup engineered by Greece's former military government.

Currently, the two populations each govern a portion of the island. The goal of peace talks is to re-link the island as a federation.

"To achieve an agreement will require a great deal of political strength, courage and will by both sides," Downer said. 

A deal "is not beyond their grasp, it is within their reach."

Crucial talks
 
Jacky Rowland, Al Jazeera's correspondent reporting from the meeting, was less optimistic.

"In the past, the Greek Cypriot leader held 71 meetings with the Turkish Cypriot leader and they were unable to clinch a deal," Rowland said at the beginning of the latest talks.

A deal in Cyprus is crucial for Turkish efforts to join the European Union.

"The Greek Cypriot side is already a member of the EU and current members can veto new members," our correspondent said.

Greek Cypriots say Turkey cannot join the EU without a re-unification deal on the island.

Presently, Turkey is the only country to recognise the Turkish enclave on the island's north as a seperate state.

There are still around 30,000 Turkish troops on the island.

Property issue

The issue of property will be crucial in negotiations.

"Before the Turkish invasion 90 per cent of property belonged to Greek Cypriots," Rowland said.

"Should homes go back to their original owners? Or do people who have been living in them have a claim?"

The election of Eroglu, unseating Mehmet Ali Talat as Turkish Cypriot leader who was seen as a moderate, unnerved some Greek Cypriots.

Eroglu, a nationalist Turkish Cypriot leader, advocates greater independence for his community. Greek Cypriots want a single state with two self-administering areas.

 Source: Al Jazeera and agencies
 
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Germany eyes wider short-selling ban

BERLIN/ROME
Tue May 25, 2010 9:22am EDT

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BERLIN/ROME (Reuters) - Germany may widen its ban on speculative financial trades to cover all shares, a leaked government document showed on Tuesday, as fears about the euro zone's debt crisis sent stocks and the euro plunging further.

Germany

The Finance Ministry draft said planned measures aimed at stabilizing financial markets would include a "ban on naked short selling of shares, including derivatives referring thereto."

Berlin stunned markets last week, drawing widespread criticism from its global partners, by unilaterally suspending naked short selling in euro sovereign bonds and credit default swaps as well as stocks in some financial companies.

Investor worries that the euro zone debt crisis may turn into a banking crisis drove European stocks and the euro sharply down on Tuesday while safe-haven German bonds hit a record high.

Highly indebted Italy was the latest euro zone country set to announce a two-year austerity plan worth 26 billion euros ($32 billion) despite concern that Europe-wide retrenchment may harm global economic growth.

The Italian cuts will hit public sector pay and recruitment, health spending and road building, and mean later retirement for some state workers and less funding for local government.

The pan-European stock index fell by as much as 3.4 percent at one point to a nine-month low, with banking stocks hardest hit on jitters over the Bank of Spain's weekend takeover of a small savings bank, CajaSur, after a failed merger with another regional lender.

U.S. stock futures pointed to a sharply lower open on Wall Street.

Spanish analysts said savings bank consolidation has been long planned as part of efforts to rationalize the sector.

However, markets worry that more troubles in southern Europe will have knock-on effects for larger euro zone banks, which are owed billions by public and private borrowers in the region. There are also worries about a lack of resolution for banks' bad debts in the euro zone.

"The big challenge is to prevent the vicious circle, that means for example the crisis of the public sector turning into a banking crisis," European Central Bank governing council member Ewald Nowotny told a Brussels conference.

The dollar, seen as a safe haven from Europe's debt worries, gained 1 percent against euro and sterling. The euro briefly traded below $1.22, erasing most of the recovery from last week's four-year low.

The global financial system is showing signs of increased stress, though still well short of the panic that followed the collapse of investment bank Lehman Brothers in September 2008.

The two-year U.S. bond-swap spread, a key gauge of financial system stress, rose to fresh one year highs near 60 basis points, up from 51 bps on Monday. It reached 160 bps in the weeks after the Lehman crash.

CUT TOO FAST

Shares in Europe and Asia were dragged lower by fears that austerity measures being announced by European governments that piled up debt and deficits during the financial crisis will shackle a global economic recovery.

"There is indeed a risk that, under market pressure, some countries overdo austerity," Olivier Blanchard, chief economist of the International Monetary Fund, said in a newspaper interview. "That would be a mistake."

European Union officials played down the risk of public spending cuts and revenue increases damaging economic recovery.

European Council President Herman Van Rompuy told a Brussels Economic Forum: "In the short term, the acceleration of fiscal consolidation will hamper growth in the euro zone as a whole only marginally."

European Economic and Monetary Affairs Commissioner Olli Rehn urged EU governments to combine "smart" budget cuts with structural reforms such as freeing up labor markets to return the euro zone's medium-term growth potential to 2.0 percent.

"The critical question is whether the real economic recovery can sustain the renewed financial turbulence," Rehn told the same conference.

A month-long selloff has routed global stocks as even a $1 trillion pledge from European leaders was not enough to calm fears that Greece's debt woes would spread to other deeply indebted nations, particularly in southern Europe.

ASIAN SLIDE

Concern at increasingly fierce rhetoric between North and South Korea over the sinking of a South Korean warship added to stock market nerves in Asia.

White House economic adviser Lawrence Summers also listed Europe's struggle to contain Greece's debt crisis as one several potential troubles facing the U.S. economy.

Banking sources said some of Europe's banks are looking at using government guarantees again to help raise money from the corporate bond markets which have been shut for more than a month by the sovereign debt crisis.

If markets stabilize, strong banks from France, Germany and Scandinavia -- Europe's core -- are expected to try to start issuing bonds again, but banks from southern Europe are likely to need support because of mounting investor concerns over sovereign risk.

"Government guarantees are under consideration from a number of quarters more actively now than a few months ago," said a senior debt capital markets banker from a U.S. bank.

(additional reporting by Jan Strupczewski and Marcin Grajewski in Brussels, Tetsushi Kajimoto in Japan, Jane Merriman, Tamawa Desai, Ian Chua, William James and Carolyn Cohn in London; writing by Paul Taylor, Editing by Ruth Pitchford)

 


Many killed in Turkey bus crash



UPDATED ON:
Tuesday, May 25, 2010
12:20 Mecca time, 09:20 GMT


Local government officials say rescue workers are pulling injured passengers from the wreckage [AFP]

At least 16 Russian tourists have been killed in a bus crash in southern Turkey, according to local government officials.

The bus was carrying more than 40 people when it drove into a river around 5am local time. It was traveling from the seaside resort of Alanya to Pamukkale, a town 375km to the northwest.

Mehmet Seyman, the deputy governor of Antalya province, said rescue workers are working to pull more than two dozen injured people from the wreckage.

Mirdzhalol Khusanov, Russia's consul general in Turkey, said employees from the consulate are visiting hospitals where the injured passengers were taken.

Alanya is a popular holiday destination along Turkey's Mediterranean coast.

Long-distance buses are a common mode of transport for locals and tourists alike, with hundreds of companies operating services throughout Turkey.

High-profile accidents are not uncommon: In 2008, for example, a bus veered off a roadin eastern Turkey's Agri province, killing 16 Iranian tourists.

And a 2006 crash killed more than a dozen passengers when a bus drove into a riverin the central Tokat province.

 Source: Agencies
 
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Google News Alert for: Europe News


25 May 2010


Europe Crisis Makes China Stocks Attractive, Henderson Says
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By Jonathan Burgos May 25 (Bloomberg) -- Europe's debt crisis may prompt China's government to delay further curbs on the country's property industry, ...
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Stocks Plunge in Europe, Asia on Spain, North Korea Concerns
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The benchmark Stoxx Europe 600 Index sank 3 percent to 230.82 at 10:46 am in London, on course for the lowest close since September. ...
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Italy joins Europe's austerity club with deep cuts
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Indian Shares Slump On Korea, Europe Concerns
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... down by sharply lower Asian shares on heightened risk aversion in the wake of Europe's debt troubles and political turmoil on the Korean peninsula. ...
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Scenarios: Europe's debt woes could weigh on US recovery
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WASHINGTON (Reuters) - At best, Europe's debt troubles are a fleeting concern for the US economy, dulling demand for exports and perhaps pinching consumer ...
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HK Shares End Sharply Lower; Below 19000 On Europe Concerns
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HONG KONG (Dow Jones)--Hong Kong shares dropped sharply Tuesday, ending below the psychologically important 19000 level and at a more than 10-month low ...
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Japan Bonds Gain Most in 7 Weeks on Stock Slide, Europe Concern
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Will Europe cast shadow over IT spending?
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Corn, Wheat and Soybeans Drop as Dollar Gains on Europe Concern
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Company Bond Risk Soars to 10-Month High in Europe, Swaps Show
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Google News Alert for: Europe News


24 May 2010


Frankness Would Serve Europe Well
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By JOHN VINOCUR PARIS — In talking about how to approach problems like Europe's new prospects of misery, Dominique Strauss-Kahn, the head of the ...
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Forget Europe, eye China: I see fast-growing companies selling cheaply
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Oil drops below $70 as European shares take a hit
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LONDON — Oil prices dropped below $70 a barrel Monday after an short-lived morning rally in Asia was stopped by declining European stock markets. ...
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Europe shares snap last week's sell-off; banks up
Reuters
LONDON, May 24 (Reuters) - European shares rose on Monday, snapping last week's sharp falls, led by banking shares after a bounce on Wall Street on Friday ...
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European Stocks, US Futures Tumble; Treasuries Advance
BusinessWeek
By David Merritt May 24 (Bloomberg) -- European stocks and US index futures dropped while copper and oil retreated on concern that the turmoil from Europe's ...
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Carry Trade Has Euro in Its Grips
Wall Street Journal (blog)
Europe's economic growth remains sluggish and will likely lag that of Britain and the US next year. Europe's debt crisis and efforts to pare back debts via ...
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Japan Says Economy Picking Up, Keeps Assessment
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“Attention should be given to the risks that the economy is depressed by a possible slowdown in overseas economies, especially in Europe,” today's report ...
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Fiscal crises threaten Europe's generous benefits
The Associated Press
The system known as the European welfare state was built after World War II as the keystone of a shared prosperity meant to prevent future conflict. ...
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Economists See Solid U.S. Growth
Wall Street Journal
Learn More "Although risks involving Europe have recently escalated, the outlook in this country has improved in most respects," said NABE President Lynn ...
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Google News Alert for: Europe News


23 May 2010


US Says Geithner to Discuss Europe, Economy in China Talks
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By Rebecca Christie May 23 (Bloomberg) -- Treasury Secretary Timothy F. Geithner will tell his Chinese counterparts that Europe's battle with a ...
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Lifting the veil on Europe
Aljazeera.net (blog)
The wearing of headscarves and face veils has generated much controversy in Europe in recent years. Here in France, the government this week approved a ...
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As Europe falters, China balks at revaluing yuan
The Associated Press
SHANGHAI — Saleswoman Li Li stood in a booth at the Canton trade fair, surrounded by luggage decorated with floral, leopard and news headline prints like ...
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We commend Angela Merkel for her leadership in Europe
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The German chancellor's leadership in shoring up Europe's finances is commendable. Her anger is also wholly justified.
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Christian Science Monitor
What's behind Dow's fall? More than Europe.
Christian Science Monitor
The fall in the Dow average reflects an ongoing de-leveraging in Europe and the US. Trader Albert Young, center, works on the floor of the New York Stock ...
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Market Pulse: Flee Europe? Au contraire
Seattle Times
European stocks have fallen enough that some contrarians are suggesting it may be time to reconsider them. European stocks have fallen enough that some ...
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Europe gets 'Lost'
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Tomorrow's "Lost" finale on ABC will air si multaneously in Europe -- regardless of international time differences. The move is designed to minimize online ...
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S.Korea econ policy bodies meet on N.Korea, Europe
Interactive Investor
SEOUL, May 23 (Reuters) - South Korea's key economic and financial authorities on Sunday held emergency meetings to check financial markets and discuss ...
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DS chief economist warns of widening Europe crisis
Globes
DS Apex Holdings Ltd. today warned that the crisis in Europe will continue to pressure the markets, and that the crisis will not pass quickly, ...
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Why soccer is more popular in Europe than US
Oneindia
Also, in Europe especially, soccer teams enjoy incredibly loyal local support. "Soccer in Europe has almost a religious following," Schindler said. ...
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Google News Alert for: Europe News


22 May 2010


Lawmakers in Germany Back Rescue for Europe
New York Times
Chancellor Angela Merkel of Germany, right, and other politicians cast their votes on the European debt rescue package in Berlin on Friday. ...
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Geithner: Global Economy Can Handle Europe Strains
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"You see some of the challenges in Europe now. But I think we are in a much stronger position to manage those challenges," he told Xinhua in an interview in ...
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U.S. stock market mulls implications of correction
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Growth concerns from China to Europe have fueled a drop in global equities since the middle of the past month. The decline reached its crescendo on Thursday ...
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It Takes a Crisis to Make a Continent
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Europe's movement toward unification has always been the product of crises. The catastrophes of World War I and World War II convinced the continent's ...
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Dollar pares gains as Europe discusses rules
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NEW YORK — The dollar pared its gains against the euro on Friday as European Union financial officials backed tougher budget rules aimed at limiting future ...
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Asian Stocks Have Biggest Weekly Drop in 15 Months on Europe
BusinessWeek
Esprit Holdings Ltd., a clothier that earns 85 percent of its revenue in Europe, slid 8.9 percent in Hong Kong. Rio Tinto Group, the world's third-largest ...
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Treasury Yield Gap Narrowest Since October on Europe Concern
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At the same time, they said, Europe's debt crisis has lowered inflation expectations, increasing the attractiveness of longer-term securities. ...
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Oil falls to $70
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Wider European Scrutiny of Google on Privacy
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Google News Alert for: Europe News


21 May 2010


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European Stocks Decline Amid Debt Worries
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Fed Governor Says US Could Feel Europe's Pain
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A top Federal Reserve official warned Thursday that Europe's debt problems could amount to a “significant external shock” to the United States economy, ...
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US 30-Year Yields Drop to Year's Low on European Debt Crisis
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By Cordell Eddings and Susanne Walker May 21 (Bloomberg) -- Treasury 30-year bond yields dropped to the lowest level this year as Europe's debt crisis ...
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Shirakawa Backs ECB Bond Buying, Sees Europe Turmoil Persisting
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Trichet Faces Criticism in Europe Debt Crisis
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Officials in the US and Europe concerned about the euro's decline are cautiously talking about a policy tool they haven't used in a decade: intervening in ...
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Turkey 'bombs Kurd targets' in Iraq



UPDATED ON:
Thursday, May 20, 2010
23:22 Mecca time, 20:22 GMT


 

Turkish fighter jets have bombed dozens of Kurdish separatist targets in northern Iraq, la ocal television has reported.

Some 20 warplanes hit around 50 positions of the Kurdistan Workers' Party (PKK), in the ZAP-Khakurk region on Thursday, Turkish broadcaster NTV said.

The army has not yet confirmed the raid and there was no immediate news of casualties.

Anita Mcnaught, Al Jazeera's correspondent in the Turkish capital Ankara, said: "We understand that the Turkish armed forces were made aware of the movements of a significant number of rebels and decided to launch the strikes to pre-empt their arrival in Turkey.

"What is known about these sorts of attacks is that since the end of 2007 they have been made with the assistance with the US military, as part of a deal at the end of President Bush's [of the US] adminsitration."

Big strike

Experts believe that the US shares military intelligence with Turkey about PKK movements.

The PKK, which is seeking autonomy for Kurds living in southeast Turkey, has led an armed struggle against the Turkish government for more than two decades.

About 40,000 people have died in the conflict since it began 25 years ago.

Turkish troops have previosuly entered northern Iraq at the end of 2007 and stepped up intermittant air stikes against PKK fighters based in northern Iraq since then.

Mcnaught said: "This is one of the biggest strikes in the last two years.

"This was a very much larger strike than usual - almost 50 locations. And a day long attack involving all these fighter jets.

"It is hard to ascertain the damage given the difficult territory."

Kurdish groups have been able to benefit from instability in Iraq to find safehaven in northern Iraq from where they could launch attacks in Turkey.

 Source: Al Jazeera and agencies
 
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UK hacker wins more time to fight U.S. extradition

LONDON
Thu May 20, 2010 8:03am EDT

LONDON (Reuters) - A British computer hacker accused by the United States of breaking into military and government networks has won more time to fight against extradition, his lawyer said on Thursday.

Gary McKinnon, 44, who says he was trawling the networks for evidence of aliens and secret technology, could be jailed for up to 70 years if he is convicted of what U.S. officials have described as the "biggest military computer hack of all time."

His lawyer Karen Todner said she had successfully lobbied Britain's new Home Secretary (interior minister) Theresa May to reconsider the U.S. extradition request.

"(The minister) wishes to have appropriate time fully to consider the issues in the case," Todner said in a statement.

Todner says McKinnon, who suffers from Asperger's syndrome, a form of autism, is too ill to be sent for trial in the United States. She has asked senior judges to review a ruling by former interior minister Alan Johnson that McKinnon is fit to be extradited and that it would not breach his human rights.

The government has agreed to delay that review, due to be held next week at the High Court in London, and McKinnon will stay in Britain for the time being.

A Home Office spokesman said: "The home secretary has considered the proposal from Gary McKinnon's legal team and has agreed an adjournment should be sought. An application to the court is being made today (Thursday)."

McKinnon was arrested in 2002 after U.S. prosecutors charged him with illegally accessing computers, including systems at the Pentagon and NASA, and causing $900,000 worth of damage.

They say he deleted files, copied passwords and forced the closure of a government computer network in Washington, leaving 2,000 workers without internet and email access for three days.

McKinnon told Reuters in an interview that he just wanted to find out whether aliens really existed. He became obsessed with looking through large military data networks for evidence.

The new British Prime Minister David Cameron has said the case raises "serious questions" about the extradition treaty between Britain and the United States. His deputy Nick Clegg has campaigned for McKinnon to be tried in a British court.

(Reporting by Peter Griffiths; editing by Andrew Roche)

 


Google News Alert for: Europe News


20 May 2010


Europe shares extend fall on short-selling worries
Reuters
LONDON (Reuters) - European shares were sharply lower at midday on Thursday, extending the previous session's steep fall, on persistent concern other euro ...
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GLOBAL MARKETS: European Stocks Higher; Euro Steadies
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French police arrest 'Eta leader'



UPDATED ON:
Thursday, May 20, 2010
11:16 Mecca time, 08:16 GMT


Co-operation between Madrid and Paris is said to have led to the recent arrest of senior Eta leaders [AFP]

The suspected military leader of Eta, the armed Basque separatist movement, has been arrested, French police say.

Two other suspected Eta members - also Spanish nationals -  were arrested along with Mikel Kabikoitz Karrera Sarobe, the man thought to be Eta's current military chief.

The arrest took place during dawn raids on Thursday in the southwestern French city of Bayonne.

According to reports, all three were picked up in the southern town of Bayonne and the fourth in a nearby village.

Five Eta leaders have been arrested in France in the last two years.

Security forces believe Eta has killed more than 850 people in its campaign for independence for the Basque Country in northwestern Spain.

But in recent years the movement has been severely weakened by hundreds of arrests.

The increase in the number of arrestsis said to be due to improved co-ordination between the authorities in Spain and France, which Eta has long used as a hideout.

Eta, whose initials stand for Euskadi ta Askatasuna, or Basque Homeland and Freedom in the Basque language, is considered a "terrorist" group by Spain, the European Union and the US.

For four decades the group has waged a bloody campaign for independence for the seven regions in northern Spain and southwest France that Basque separatists claim as their own.

 Source: Agencies
 
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French cabinet approves veil ban



UPDATED ON:
Thursday, May 20, 2010
00:04 Mecca time, 21:04 GMT



Al Jazeera's Estelle Youssouffa reports on how many Muslims in France feel alienated by the ban

The French cabinet has approved a draft law to ban the wearing of full-face veils in public spaces, opening the way for the text to go before parliament in July.

The bill calls for $185 fines and, in some cases, citizenship classes for women do not comply with the ban.

Addressing the cabinet meeting on Wednesday, Nicolas Sarkozy, the French president, said: "Citizenship should be experienced with an uncovered face.

"There can be no other solution but a ban in all public places."

The bill includes a new offence - inciting to hide the face - with anyone convicted of forcing a woman to wear such a veil risking a year in prison and a $18,555 fine.

The interior ministry estimates that only 1,900 women cover their faces with veils in France out of an estimated five million Muslims, the largest such population in western Europe.

'Increasing harassment'

Some veil wearers in France say they have been increasingly harassed since debate over the planned law began nearly a year ago.

The bill is set to go before parliament in July and is widely expected to become law.

Sarkozy said last June that such veils are "not welcome" in France and that he wants a law banning them on the books as soon as possible.

However, the text, which could be amended in the process, foresees a six-month delay in its application to explain the law and mediate with those women affected, which means it wouldn't take effect until early in 2011.

In depth

 The debate for and against the face-veil
 Readers react to France veil report

Last month, Belgian politicians voted overwhelmingly to ban the wearing of full face veils in public.

The vote in the lower house of the federal parliament saw 136 deputies back a nationwide ban on clothes or veils that do not allow the wearer to be fully identified.

Taj Hargey, chairman of the Muslim Educational Centre in Oxford, UK, told Al Jazeera: "Muslims needs to adjust and adapt to Western society. There is no reason why women should cover their faces because it is not an Islamic requirement.

"If we enter a public domain, we need to follow the public rules and that means showing our faces."

France banned headscarves and other "ostentatious" religious symbols, from classrooms in 2004.

Some wearers of the veil in France say if the law is passed and they are arrested they will take their case to the European Court of Human Rights.

Draft law risks

The French government risks running up against the constitution following a warning in March from the Council of State, France's highest administrative body.

The council said such a ban was likely to violate the French constitution and the European Convention for the Protection of Human Rights and Fundamental Freedoms.
"There appears ... to be no legally unchallengeable justification for carrying out such a ban," it said.

Muslim leaders have said the face-covering veil is not required by Islam, but have also warned that a ban on the full veil risks stigmatising all Muslims.

Critics of the veil say such dress is an affront to gender equality and undermines the nation's secular foundations by bringing religion into the streets.

 Source: Al Jazeera and agencies
 
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19 May 2010


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Greece receives EU funds but faces huge task ahead

ATHENS

Tue May 18, 2010 9:14am EDT

Related Video

A woman waves a Greek flag in front of parliament during a protest
 against the government's austerity measures in Athens May 3, 2010. 
REUTERS/John Kolesidis

ATHENS (Reuters) - Greece received a 14.5 billion euro ($18 billion) loan from the European Union on Tuesday and can now repay its immediate debt, but still faces a mammoth task to claw its way out of recession.

World  |  Greece

Concerns that other EU countries such as Portugal and Spain could follow Greece and need aid from the bloc have hit the euro, while investors are still watching Athens to see whether its austerity plan will stave off the prospect of default.

The EU and IMF agreed at the beginning of the month to lend Greece 110 billion euros ($137 billion) over three years to help it pay billions in expiring debt after being shut out of financial markets by the high cost of borrowing.

With 5.5 billion euros already delivered by the IMF, Greece has now received the first 20-billion euro tranche of the loans, the Greek Finance Ministry said in a statement.

Athens now can and will repay an 8.5 billion 10-year euro bond which matures on Wednesday, a government official said.

"Greece no longer has the liquidity anxiety, it will not need to go to markets to borrow to pay salaries and pensions," EFG Eurobank economist Gikas Hardouvelis told Reuters.

Greece will be paying interest of around 5 percent, far below current market yields of well over 7 percent for Greece's 3-year bonds.

Though it has gained a breathing space, Greece must now convince markets it can rein in its deficits so that it can eventually start borrowing again.

"The programme has been designed so that Greece is able to stay away from the financial markets through the end of 2011 and the first quarter of 2012. We don't expect that to be the case, we want to come back to markets much sooner," Finance Minister George Papaconstantinou said in Brussels.

"NO MAGIC WAND"

Socialist Prime Minister George Papandreou's government has already implemented sizeable public sector wage cuts and raised taxes in return for the EU/IMF bailout.

In response, large and sometimes violent protests have swept the Greek capital, and a general strike and another mass demonstration have been called for Thursday.

But the government still has more painful measures in the pipeline such as pension reform, and cuts in spending and red tape to boost competitiveness.

Investors are closely watching whether Greeks will swallow the bitter austerity pill, or whether the wave of public anger continues to rise, and if it does, how well Papandreou stands up to the pressure to transform the consumer-driven economy.

Greece aims to cut its deficit from nearly 14 percent of GDP to 3 percent by 2014, a task the like of which almost no government has achieved before. An economy deep in recession, with GDP projected to contract by 4 percent this year, makes the job even harder.

"There is no magic wand, no other way out but for Greece to deliver on the spending and revenue front and not miss targets, while also making headway in improving the economy's competitiveness," said an economist who declined to be named.

"The numbers are merciless."

(Writing by Jon Hemming; Editing by Kevin Liffey)

($1=.8054 Euro)

 


France releases Iranian 'assassin'



UPDATED ON:
Tuesday, May 18, 2010
15:00 Mecca time, 12:00 GMT


Ali Vakili Rad was convicted in 1994 of the murder of prime minister Shahpour Bakhtiar [AFP]

An Iranian agent convicted of the assassination of an exiled prime minister has been released from prison in France and will be allowed to return home.

Ali Vakili Rad was given a life sentence for stabbing and strangling to death Shahpour Bakhtiar, the last prime minister under the Shah of Iran, in Paris in 1991.

French prosecutors said Vakili Rad, who became eligible for parole last year, was allowed to be released early under the country's laws.

He is expected to return later on Tuesday to Iran, where he is regarded by leaders as a hero for killing someone they considered a counterrevolutionary,.

Ramin Mehmanparast, Iran's foreign ministry spokesman, welcomed Vakili Rad's expected return.

"To see him in Iran after years, we are pleased," he said.

However, controversy has raged in France over whether the decision to release Vakili Rad was tied to Iran's release of Clotile Reiss, a French academic.

Deal denied

Opposition Socialists have suggested that France secured the release of Reiss in exchange for sending Vakili Rad home along with a second man, Majid Kakavand, who is wanted in the US for trial.

But French officials have denied any dealmaking over Reiss, who was sentenced to 10 years in prison by Iran for allegedly spying during the post-election violence in the country last year.

Bernard Kouchner, the French foreign minister, insisted that there had been no "payoff" and no "horse-trading" between Paris and Tehran.

"We were never in a logic of the slightest bargaining," a ministry spokesman said.

Sorin Margulis, Vakili Rad's lawyer, also denied speculation of a deal, saying: "This must not be seen as an exchange. The Reiss affair did nothing but complicate and delay my client's release."

Convicted of murder

Vakili Rad was convicted in 1994 of murdering the 76-year-old Bakhtiar at his home on August 6, 1991. He served his jail term in Poissy, west of Paris.

The last prime minister under Shah Mohammad Reza Pahlavi, Bakhtiar fled to France in 1980 after the Islamic revolution. His home in Suresnes, west of Paris, had been under round-the-clock police surveillance.

Vakili Rad and an accomplice were allowed inside the villa by an aide to Bakhtiar, who was murdered along with Fouroush Katibeh, his secretary.

Arrested in Switzerland, he was extradited to face trial in France but the other two accomplices escaped.

Decision delayed

A French appeals court ruled on July 2 last year that Vakili Rad could be given conditional freedom, but the decision was delayed twice.

French law allows expulsion for foreigners with no ties to France once they are released.

The French prosecutor's office said Tuesday that it was able to order Vakili Rad's release because he had requested that he be sent back to Iran if he were freed.

The only issues that could delay a Tuesday departure are whether Vakili Rad has received an up-to-date passport and whether formalities are concluded
in time to catch a flight home.

 Source: Agencies
 
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UK eases air-safety rules over ash



UPDATED ON:
Tuesday, May 18, 2010
13:41 Mecca time, 10:41 GMT


Airlines have complained about what they have described as arbitrary closures [EPA]

Aviation authorities in Britain have introduced relaxed flight safety rules to minimise more disruptions caused by last month's volcano eruption in Iceland.

The Civil Aviation Authority said it had agreed with airlines, regulators and engine manufacturers on new rules that would let aircraft fly for a limited time through higher ash densities than currently allowed.

The rules, which go into effect at 1100 GMT on Tuesday, are subject to airlines getting a guarantee from their engine makers that their aircraft can safely tolerate the ash.

The body said that so far only Flybe, the British budget carrier, satisfied those conditions, but it expected other airlines to follow soon and European authorities to introduce similar rules.

'Mounting evidence'

The UK's National Air Traffic Services said the new rules meant that restrictions on British airspace could now be eased.

"There is mounting evidence that aircraft can fly safely through areas of medium density, provided some additional precautions are taken. This is now what has been agreed,'' Richard Deakin, the company's chief executive, said.

"As a result of this change, there are no predicted restrictions on UK airspace in the immediate future."

Special report
Volcano chaos

London's Heathrow and Gatwick airports and Amsterdam's Schiphol airport reopened on Monday after they closed over the weekend because of worries over volcanic ash which can clog plane engines.

All three warned travellers it would take time for airlines to clear the backlog of delayed flights and advised them to contact their airlines before going to the airport.

The Icelandic civil protection agency said the ash cloud was now drifting to the north.

'Gross overreaction'

The April 14 eruption at Iceland's Eyjafjallajokul volcano forced most countries in northern Europe to shut their airspace between April 15 to April 20, grounding more than 100,000 flights and an estimated 10 million travellers worldwide.

The shutdown cost airlines more than $2bn and carriers complained about what they described as arbitrary closures.

Willie Walsh, the chief executive of BA, called the latest disruptions "a gross overreaction to a very minor risk".

"I am very concerned that we have decisions on opening and closing of airports based on a theoretical model," he said.

Andrew Haines, the Civil Aviation Authority's chief executive, denied that the previous blanket ban on European airspace was an overreaction.

But he acknowledged that making aircraft avoid ash completely was impractical because of Europe's congested airspace.

 Source: Agencies
 
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Court stops BA cabin crew strike



UPDATED ON:
Tuesday, May 18, 2010
07:45 Mecca time, 04:45 GMT


This is the second time in less than six months that BA has successfully averted a strike by Unite union [AFP]

Britain's high court has ruled that a planned strike by British Airways cabin crews is unlawful.

Monday's decision stopped the planned lengthy walkout just hours before it was due to begin.

It is the second time in less than six months that BA has successfully averted a strike by Unite by claiming voting irregularities in a high court claim.

A planned Christmas and New Year walkout was halted the same way.

BA said that flights over the next few days will still be disrupted because it is too late to unwind contingency plans already put in place to cope with the planned 20-day walkout by members of the Unite union.

But it said it aims to restore a full flying programme at London's Heathrow airport by the weekend, as long as the volcanic ash cloud that has shut airspace in recent days does not cause further problems.

The high court granted the last-minute injunction because of irregularities in Unite's ballot of workers for the action.

Negotiations urged

The strike had been due to begin at midnight and run in four blocks of five days each through early June.

BA has urged Unite - which can take the case to the court of appeal - to negotiate an end to the increasingly acrimonious dispute over pay and working conditions that had led to the planned walkout.

Before the court ruling, BA had said it planned to fly more than 70 per cent of its customers over the strike period, using leased aircraft and crew as well as BA cabin crew who decide not to take part in the walkout and staff reassigned from other jobs at the carrier.

The proposed strike dates - May 18-22, May 24-28, May 30-June 3 and June 5-9 - fell over a busy British school summer vacation period, a long weekend and the run-up to the football World Cup in South Africa, which begins on June 11.

 Source: Agencies
 
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Ash disrupts Europe air traffic




UPDATED ON:
Monday, May 17, 2010
12:57 Mecca time, 09:57 GMT


Thousands of passengers were re-routed to buses and trains following the airport closures [AFP]

Ash from Iceland's Eyjafjallajokull volcano has caused widespread disruption to airports across northern Europe, leaving passengers facing long delays and cancellations.

The ash forced Britain's Heathrow airport, Europe's busiest air hub, to close overnight.

The airport reopened on Monday morning, but disruption is set to continue throughout the day. 

Ash clouds also forced the closure of Amsterdam's Schiphol and Rotterdam airports from 6am (04:00 GMT) to 2pm (12:00 GMT) on Monday, Dutch aviation officials said.

The latest disruption to European air travel came after a no-fly zone was imposed earlier across the skies above northern England, Northern Ireland and Scotland.

Britain's National Air Traffic Service said the UK airports were closed as the high density of the ash cloud drifted further south in the early hours of Monday. 

Al Jazeera's Jonah Hull, reporting from Heathrow, said that ash cloud was disrupting landing aircraft, but most air traffic was returning to normal. "London's airports are operating relatively normally, albeit with some restrictions," he said.

Special report
Volcano chaos

European airspace was almost entirely shut down for nearly a week last month, after the Eyjafjallajokull volcano erupted and threw up an ash cloud over most of the continent.

The move led to the cancellation of some 100,000 flights, left millions of passengers stranded and cost airlines an estimated $1.7bn in losses, according to the International Air Transport Association.

The authorities reopened some airspace and airports after emergency talks between European governments, airlines and regulators resulted in a plan that divided the continent into safe and unsafe areas.

Move criticised

Airlines have criticised the latest restrictions, saying they are overly cautious.

"The closing of Manchester airspace once again is beyond a joke," Richard Branson, the president of Virgin Atlantic, said in a statement.

The ash cloud has been wreaking havoc on European air travel since last month [AFP]

He said test flights have "shown no evidence that airlines could not continue to fly completely safely".

British Airways said that the approach was "overly restrictive and not justified on safety grounds".

Jonathan Nicholson, a spokesman for Britain's civil aviation authority, called Branson's remarks "surprising" after a meeting last week in which airline representatives and engine manufacturers agreed to find a way to ensure planes could fly safely in the volcanic ash.

"We as an organisation can't just say, 'Oh, I'm sure it's all right, go fly', without evidence it's safe," he said.

Areas in the latest no-fly zone include Heathrow, Gatwick and London City, as well as all airfields in Northern Ireland and airports in parts of Scotland, Nats said.

Still closed

Teeside, Leeds-Bradford, Blackpool, Sheffield, Manchester, Liverpool, Doncaster, Carlisle, Humberside and East Midlands airports were already within the no-fly zone, Nats said, and airports in the Isle of Man were also affected.

The Irish Aviation Authority said three northwestern airports were closed from early Sunday and Dublin would be shut until 11:00 GMT on Wednesday.

Train operators Eurostar and Virgin Trains said they were adding more than 10,000 seats to their services in view of the air-travel disruption.
 
The volcano under the Eyjafjallajokull glacier in Iceland is continuing to erupt with no signs that the activity will end anytime soon.

 Source: Al Jazeera and agencies
 
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17 May 2010


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French spy suspect 'leaving Iran'




UPDATED ON:
Sunday, May 16, 2010
15:36 Mecca time, 12:36 GMT


Reiss had been accused of role in Western 
plot to destabilise Iran [AFP]

A French woman who has been held on espionage charges in Iran since July has been released and is on the way home, the French president's office says.

Sunday's announcement, reported by the news agency AFP, comes a day after Clotilde Reiss' lawyer said she would be acquitted.

"The president of the republic will receive her and her family
at the Elysee Palace as soon as she arrives in Paris" at around 1pm (11:00 GMT), the statement said.

Mohammad Ali Mahdavi-Sabet said on Saturday that Clotilde Reiss faced a cash fine for minor charges, but did not elaborate on what the charges were.

A $285,000 payment for the fine had been made, he said.

Reiss was arrested three weeks after Mahmoud Ahmadinejad was re-elected as president in a disputed June 12 vote.

Reiss was released on bail after a month and a half in custody but only on condition that she remained at the French Embassy in Tehran until her trial was over.

She was accused of taking part in a Western plot to destabilise the Iranian government and was put on trial in August charged with acting against national security.

Four court appearances

A judgement in the case had been expected in January, after Reiss had made four court appearances, but the verdict was put off.

Her case has raised tensions between France and Iran, with Paris saying that Reiss was innocent and demanding her immediate release.

Reiss was arrested in Tehran in July as she prepared to leave Iran after working at the University of Isfahan for five months.

She was among thousands of people detained over widespread post-election unrest, which was sparked after defeated presidential candidates said that the polls had been rigged.

The government has denied the claims.

 Source: Agencies
 
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Libya crash survivor returns home



UPDATED ON:
Saturday, May 15, 2010
17:17 Mecca time, 14:17 GMT


The Airbus A330-200 crashed last Wednesday, killing 103 people onboard [AFP]

The only survivor of the Libyan plane crash has arrived in the Netherlands, after he was told his parents and his brother were among the 103 people killed in the disaster.

Nine-year-old Ruben Van Assouw arrived on Saturday at the southern airport of Eindhoven onboard a Libyan ambulance plane, a Reuters witness said.

He was accompanied by his aunt, uncle and a Libyan doctor.

"His situation is good now. He talked. He is progressing very well," Libyan orthopaedic specialist Sadig Bendala, who led the doctors treating Van Assouw for multiple bone fractures, said before he left Tripoli's airport with the boy.

Van Assouw survived miraculously but all others on board the Airbus A330-200 died when the plane flying from Johannesburg to the Libyan capital crashed just short of the runway early on Wednesday.

Terrible loss

Van Assouw's family misfortune has attracted an outpouring of condolences in the Netherlands, which lost 70 nationals in the crash, including the boy's parents and 11-year old brother.

His family thanked officials and doctors but also asked for the media to respect their privacy.

"We have two kinds of sorrow to deal with, because Ruben is in a terrible situation, but we have also lost family members, our brother and sister and our nephew Enzo. The future will be difficult for us," the family said in the statement.

None of the bodies have been repatriated so far outside Libya as authorities said they were waiting for the relatives of the dead to provide details of distinguishing marks such as tattoos and scars, or DNA and medical records to help identify them.

 Source: Agencies
 
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Euro falls over debt fears



UPDATED ON:
Saturday, May 15, 2010
14:58 Mecca time, 11:58 GMT



Some analysts are forecasting further falls for the euro in the coming months [File: Gallo/Getty]

The euro currency has slipped to an 18-month low against the US dollar amid fears that European spending cuts and tax rises could derail economic recovery. 

The euro slid as low $1.2358 on electronic trading platform EBS on Friday, its lowest position since October 2008, while the concerns also pushed down markets and the price of oil.

European countries are battling to stop Greece's debt crisis, which has required the EU and International Monetary Fund to provide a $136bn bailout and Athens to announce sweeping cuts, spreading to other nations. 

"It's clear that the chief responsibility of Europeans is to take appropriate measures to counteract the current tensions in Europe," Jean-Claude Trichet, the European Central Bank president, said in an interview with Germany's Der Spiegel on Saturday.

Trichet called for better monitoring of euro zone government budgets, which under the zone's stability and growth pact should run deficits of no more than three per cent of GDP.

"What we need is a quantum leap in mutual surveillance of economic policies in Europe. We need improved mechanisms to prevent and punish misconduct."

"We need an effective implementation of the mutual control, we need effective sanctions for breaches of the stability and growth Pact. The ECB calls here for profound changes."

Euro warning

Angela Merkel, the German Chancellor, warned on Saturday that the were the European monetary union to collapse it would "shake the whole European project" to its foundations.

"If the euro fails, a lot more will also fail," she told the Sueddeutsche Zeitung newspaper.

Stocks has rallied after last week's announcement that EU finance ministers had agreed to a $1 trillion package of loans and loan guarantees to prevent contagion.

But the optimism was short-lived, with the euro continuing to fall and stocks down three days this week.

"The euro hasn't derived any benefits from any budget cuts from Spain and Portugal," Chris Turner, the head of FX strategy at ING, told the Reuters news agency.

"People are either concluding that these cuts will be unsuccessful and debt sustainability remains a key issue, or they will be successful in aggressive fiscal tightening and that these economies would slow aggressively and the European Central Bank has to keep interest rates low."

ING forecasts that the euro will fall as far as $1.15 within six months.

The International Monetary Fund that budget deficits must be reined in to prevent economies contracting.

"As economies gradually recover, it is now urgent to start putting in place measures to ensure that the increase in deficits and debts resulting from the crisis ... does not lead to fiscal sustainability problems," it warned in a report on Friday.

"If public debt is not lowered to precrisis levels, potential growth in advanced economies could decline by over half a per cent annually, a very sizable effect when cumulated over several years."

The IMF said current policies could result in average debt ratios of 110 per cent of gross domestic product by 2015 for advanced economies

 Source: Al Jazeera and agencies
 
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15 May 2010


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France's burqa debate stokes passion in North Africa

Friday, 14 May, 2010

07:28 PM PST | Fri, 14 May, 2010 | Jumadi-ul-Awwal 29, 1431


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People in North Africa are split between those who see the proposed ban - a version of which has already been approved by Belgium's lower house of parliament - as an attack on Islam, and those who applaud Europe for defending secular values. –AFP File Photo

ALGIERS/RABAT: French proposal to ban full face veils has stoked debate in Europe and also provoked strong reactions across the Mediterranean in North Africa, where many of France's Muslims trace their origins.

Former French colonies Algeria, Morocco and Tunisia are still tied to France by history, language and migration, so their views on the “burqa” issue could have a direct influence on how Muslims inside France react to a ban.

People in North Africa are split between those who see the proposed ban - a version of which has already been approved by Belgium's lower house of parliament - as an attack on Islam, and those who applaud Europe for defending secular values.

What is shared though by at least some people on each side of the argument is a concern that talk of a ban could be exploited by unscrupulous politicians and ratchet up tension between the authorities in Europe and Muslim communities.

“I am against this form of dress ... but we should not enact laws against it,” Khadija Riyadi, president of Morocco's leading independent human rights group, AMDH, told Reuters.

“The right wing in France will take advantage of this law during elections when they should be addressing the situation of Muslims in France and trying to help them shrug off joblessness, poverty and racism,” she said.

The “burqa” issue has, in France and other countries, become the focus for a debate about Islam and European society.

Belgium's lower house of parliament last month approved a bill to ban wearing the full Islamic face veil in public, though it still needs to pass the upper house.

France, home to the European Union's largest Muslim minority, is planning to debate a draft law to ban all face veils in public. Influential politicians in Austria and the Netherlands have also advocated a ban.

“War against Muslims”

For some people in North Africa, those discussions are evidence of a racist push to evict Muslims from Europe.

“It is not just a campaign but a war against our people in Europe,” said Sheikh Abdelfetah Zeraoui, a cleric in Algeria who belongs to the traditionalist Salafist strain of Islam.

“We will urge our decision makers to apply reciprocity for European women entering into Algeria. They should be wearing the Muslim veil. Otherwise we won't let them come to Algeria.”

Just as in Europe, women in North Africa who wear full face veils - known as the niqab or burqa - are a small minority.

Many women wear the hijab, which covers the head but leaves the face exposed, while a sizeable minority go uncovered.

Fatima Bougttaya, 32, comes from the working class neighbourhood of Sale, near Rabat, and wears a full burqa that covers her from head to toe, with only her hands exposed.

“It is just a racist decision to destroy Islam,” she said, when asked about the proposed French ban. “Why do they not make a law against women who exhibit their bodies in public and in front of cameras?”

Secular Values

North Africa plays a role in helping form Muslim opinion in Europe because many people of North African origin regularly travel back to the region and the mosques they attend abroad are often run by clerics trained in Algeria, Morocco or Tunisia.

Secular-minded people in North Africa sympathise with European moves to ban the face veil, seeing an echo of their own concerns that hardline Islamists in their countries are becoming too powerful.

“The West has the right to preserve its secularism,” said Abdelrhani Moundib, a professor of sociology and anthropology at Mohammed V University in the Moroccan capital, Rabat.

“As a Moroccan Muslim, I am against the burqa. I see nothing in it that relates to Islam or chastity,” he said.

Radhia Nasraoui is a lawyer and opposition activist in the Tunisian capital who does not cover her head.

“I am against any kind of limits on personal freedom, but in this case I think the Western explanations (for banning the face veil) are logical,” she said. “How can you know who the person is who is wearing a niqab?”



Tags: Burqa France Belgium North Africa

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Turkey and Greek PMs hail 'new era'



UPDATED ON:
Friday, May 14, 2010
17:16 Mecca time, 14:16 GMT


Papandreou, left, and Erdogan are hoping for a 'new era' in relations [AFP]

The prime ministers of Greece and Turkey have met in a bid to ease tensions between their nations and open a "new era" in relations.

Recep Tayyip Erdogan arrived in Athens, the Greek capital, on Friday, marking the first official visit by a Turkish prime minister in six years.

He and George Papandreou are discussed economic ties and cuts in defence spending, a crucial step for Greece as it struggles with a debt crisis that has threatened the euro.

"Both countries have huge defence expenses and they will achieve a lot of a savings in this way," Erdogan said, adding that his two-day visit was of "historic importance".

"I believe ... the 21 accords and co-operation protocols that we will sign with our neighbour and friend Greece will mark the beginning of a new era in our relations," he said.

Brink of war

The meeting came as the two nations signed a deal on illegal immigrants, which would allow those coming from Turkey to Greece to be sent back.

"A bilateral agreement was signed to readmit illegal migrants to Turkey," the Greek citizens protection ministry said in a statement.

"The Turkish side has agreed to accept at least 1,000  readmission requests (by Greece) a year," it said.

The issue of illegal migrants has been a major source of discord between the two countries.

Greece and Turkey have been regional rivals for decades, recently divided over issues such as sovereignty in the Aegean Sea and the status of Cyprus.

The two nations came to the brink of war in 1996, and relations were strained again in 2006 when a Greek pilot was killed in a collision with a Turkish plane during a mock dogfight.

Both countries have a high military spend, with Greece paying out a higher proprortion of gross domestic product on military weapons than any other European Union nation.

Western officials, who have put together a $146bn rescue package for Athens, have pushed for moves adopted by Greece to cut its spend - as high as 5.6 per cent of GDP in recent years - to below three per cent.

"This year we've decided to cut the defence budget from 6.8 billion euros to six billion, that's to say 2.8 per cent of GDP," Panos Beglitis, the Greek deputy defence minister, told French daily Le Monde.

On average, the Nato allies each spend around 1.7 per cent of their GDPs on defence.

'Political condition'

But Beglitis told Greek radio that arms reductions would come in accordance with a "political condition" with Ankara - "that Turkey undertakes specific action and practices in relation to respecting international law on Aegean and east Mediterranean issues".

Turkey has less reason to make defence cuts, with its economy forecast to grow faster than any other in the EU this year.

Erdogan and Papandreou are also expected to chair a joint cabinet meeting with seven Greek ministers on issues including foreign affairs, transport and infrastructure, tourism and culture, education, police and emergency services, energy and the environment.

Papandreou, who helped build stronger ties with Turkey during his stint as foreign minister in a previous government, invited Erdogan in January in a bid to relaunch relations.

 Source: Agencies
 
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Spanish judge Garzon suspended



UPDATED ON:
Friday, May 14, 2010
17:08 Mecca time, 14:08 GMT


If convicted Garzon would avoid prison but could be suspended for up to 20 years [EPA]

Baltasar Garzon, one of Spain's highest ranking judges, has been suspended from his post ahead of his trial for overreaching his authority in a probe linked to Franco-era crimes.

The General Council of the Judiciary (CGPJ), the body that oversees the judiciary, decided unanimously to suspend Garzon on Friday, two days after the country's supreme court cleared the way for his trial.

Garzon is accused of abuse of power for opening an investigation in 2008 into the disappearance of tens of thousands of people during Spain's 1936 to 1939 civil war and General Francisco Franco's subsequent dictatorship.

The case follows a complaint by far-right groups that the probe ignored an amnesty law passed in 1977, two years after Franco's  death, for crimes committed under the general's rule.

'Sad day'

On Wednesday, the supreme court removed the last obstacle to Garzon's trial over the case, although no date has been set.

If convicted he would avoid prison but could be suspended for up to 20 years, which would effectively end the career of the 54-year-old.

Garzon has argued that the disappearances constituted crimes against humanity and were therefore not covered by the amnesty.

Human Rights Watch condemned the CGPJ's decision to suspend Garzon who is famous for going after international figures like Osama Bin Laden and Augusto Pinochet, the former Chilean dictator.

"This is a sad day for the cause of human rights. Garzon was instrumental in delivering justice for victims of atrocities abroad and now he is being punished for trying to do the same at home," Reed Brody, the rights group's legal counsel, said in a statement.

"Garzon's decision not to apply Spain's amnesty, for which he is being prosecuted, is supported by international law, which impose on states a duty to investigate the worst international crimes, including crimes against humanity.

"Thanks to Garzon, Spain became a symbol of justice for atrocity victims around the world. Now justice itself has become the victim in Spain."

ICC offer

On Tuesday, Garzon asked Spanish authorities to be allowed to work as a consultant for the International Criminal Court (ICC), following an offer from The Hague-based tribunal.

The ICC posting, scheduled to last seven months, had been seen as an attempt by Garzon to avoid the humiliation of a formal suspension over the charges against him.

The judge is also involved in two other cases, one regarding wiretaps he ordered as part of a probe into a corruption scandal  involving members of the main opposition party, and another over suspected bribery over payments he allegedly received for seminars  in New York.

He first made world headlines in October 1998 when he ordered the arrest of Pinochet in London under the principle of "universal jurisdiction".

Universal jurisdiction holds that heinous crimes like torture or terrorism can be tried in Spain even if they had no link to the country.

Garzon also indicted Bin Laden in 2003 over the September 11, 2001 attacks in the United States and looked into the deaths of Spaniards in Argentina during the military regime of 1976 to 1983.

But critics like to point out that both his high-profile cases against Pinochet and Bin Laden went nowhere.

Conservative politicians and media in Spain have accused him of opening old wounds with some of his probes.

Garzon has also been active in Spain's crackdown on the Basque separatist group Eta and is reported to be on the organisation's list of assassination targets. 

 Source: Agencies
 
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14 May 2010


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13 May 2010


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Turkey PM eyes better Greece ties


UPDATED ON:
Thursday, May 13, 2010
08:55 Mecca time, 05:55 GMT


The Turkish prime minister's last visit to
Athens was in 2004 [AFP]

Recep Tayyip Erdogan, the Turkish prime minister, is set to visit Greece for improving historically tense bilateral relations.

Erdogan, accompanied by almost a dozen cabinet ministers and more than 100 Turkish businessmen, arrives in Athens on Friday for a two-day visit.

Dimitris Droutsas, Greece's alternate foreign minister, said the visit would allow Greek officials to discuss investments and business opportunities.

"Business activity in Turkey has displayed impressive growth, and I think this is a very good opportunity, particularly in the economic situation Greece is going through," he said.

George Papandreou, the Greek prime minister, says his talks with Erdogan will include discussion of Turkey's bid to join the European Union. Greece supports Turkish accession, which has been delayed for years.

Turkey went through a banking crisis in 2001, so Erdogan may offer advice to his Greek counterpart, currently implementing a series of tough austerity measures to address a debt crisis.

Education will be another issue on the agenda: Turkish officials have reportedly promised to change passages in textbooks which portray Greece as a threat to Turkish sovereignty.

Tense relations

Turkey and Greece are both Nato member states, but they have been rivals for decades, particularly over Cyprus. The island has been split since Turkey occupied its northern third in 1974, a response to an Athens-engineered Greek Cypriot coup aimed at uniting the island with Greece.

Athens and Ankara also disagree on sovereignty in some areas of the Aegean. Turkish fighter planes routinely fly in airspace claimed by Athens, leading to regular mock dogfights with Greek jets.

Though the dogfights are usually bloodless, a Greek pilot died in 2006 in a mid-air collision.

Erdogan's last official visit to Athens came in 2004. He cancelled a scheduled trip last year for health reasons.

 Source: Agencies
 
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12 May 2010


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Pope: Scandal due to church's sin




UPDATED ON:
Wednesday, May 12, 2010
06:33 Mecca time, 03:33 GMT


Critics say 'strong comments' by the pope have not been backed up by 'strong action' [GALLO/GETTY]

In his most thorough admission of the Roman Catholic church's guilt in the clerical sex abuse scandal, Pope Benedict XVI has said that the greatest persecution "is born from the sins within the church", not from a campaign by outsiders.

The pontiff said on Tuesday that the church had always been tormented by problems of its own making, something being witnessed now "in a truly terrifying way".

"The church needs to profoundly relearn penitence, accept purification, learn forgiveness but also justice," he said. "Forgiveness cannot substitute justice," he said.

Benedict was responding to journalists' questions, submitted in advance, aboard the papal plane as he flew to Portugal for a four-day visit.

In depth

  Q&A: Church abuse scandal
  Pope Benedict's letter in full
  Inside Story: Suing the pope 
  Video: Abuse scandal mars pope celebration
  Video: Apology 'not enough'
  Video: Pope responds to child abuse row
  Blog: Ireland's legacy of abuse
  'Scandal hidden in secret vaults'

In a shift from the Vatican's initial claim that the church was the victim of a campaign by the media and abortion rights and pro-gay marriage groups, Benedict said: "The greatest persecution of the church doesn't come from enemies on the outside but is born from the sins within the church."

Previously, he had taken to task the abusers themselves and, in the case of Ireland, the bishops who failed to stop them.

Benedict has promised that the church would take action to protect children and make abusive priests face justice.

He has started cleaning house, accepting the resignations of a few bishops who either admitted they molested youngsters or covered up for priests who did.

Critics are demanding more. They recall that while Benedict has scolded his church and accepted some bishops' resignations, none of them has been actively punished or defrocked, even those who admitted molesting children.

David Clohessy, director of the main US victims' group, the Survivors Network of those Abused by Priests, said "many are tiring of hearing about his 'strong comments'. They want to see strong action".

 Source: Agencies
 
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Cameron made British prime minister




UPDATED ON:
Wednesday, May 12, 2010
06:33 Mecca time, 03:33 GMT



Clegg gets the deputy PM's post after his Lib Dems formed a coalition with the Conservatives [AFP]

David Cameron has become Britain's new prime minister after the Conservative leader secured a power-sharing agreement with the Liberal Democrats.

Nick Clegg, the Lib Dem leader who was thrust into the position of kingmaker after Thursday's inconclusive election, was appointed deputy prime minister on Tuesday, just hours after Cameron took office.

Earlier in the day, Gordon Brown resigned as prime minister after his centre-left Labour party – in power for the last 13 years – failed to clinch a deal with the Lib Dems.

The Conservatives won the most seats in last week's parliamentary election but fell short of a majority. Labour came second and the third-placed Liberal Democrats found themselves courted by both sides to form a coalition government.

Giving his first speech as prime minister on Tuesday, Cameron, at 43 the country's youngest leader in nearly 200 years, admitted running Britain's first coalition government since 1945 would be tough.

'Difficult work'

"This is going to be hard and difficult work. A coalition will throw up all sorts of challenges. But I believe together we can provide that strong and stable government that our country needs," Cameron said, his pregnant wife Samantha by his side in front of the prime minister's residence at 10 Downing Street.

special report



Final results
Conservative: 306
Labour: 258
Liberal Democrat: 57
Other: 28

Al Jazeera's Alan Fisher, reporting from London, said the power-sharing agreement was the work of five days of intense negotiations.

"But now Britain has a new government. The Liberal Democrats will be full partners in the coalition with seats in the cabinet, and more power than the election results perhaps suggested," he said.

Cabinet positions were still being finalised but Cameron's Conservatives said former party leader William Hague will serve as foreign minister, senior legislator George Osborne, a close friend of Cameron's, will become the new finance minister, known as the chancellor of the exchequer, and legislator Liam Fox will be the defence minister.

The prime minister's office announced late in the evening that the Liberal Democrats will have five positions - including Clegg's - in the cabinet.

First among the new government's challenges will be how to reduce Britain's record budget deficit, which is running at more than 11 per cent of national output and has raised fears that the country could lose its triple-A credit rating.

"We have some deep and pressing problems - a huge deficit, deep social problems, a political system in need of reform," Cameron said on Tuesday. "For those reasons, I aim to form a proper and full coalition between the Conservatives and the Liberal Democrats."

Cameron said the UK has some 'deep and pressing problems' [EPA]

"Nick Clegg and I are both political leaders who want to put aside party differences and work hard for the common good and for the national interest," he said.

Markets had been impatient to see an end to the uncertainty thrown up by last week's election and Britain's sterling currency rose against the dollar and the euro as Cameron spoke.

But some in the finance industry have expressed doubts about Osborne being finance minister because he is untested and takes over an economy emerging from the worst recession since the second world war.

A Conservative source said the two parties had agreed to significantly accelerate deficit reduction plans, with the focus more on cutting public spending than on raising taxes.

US affirms 'special relationship'

The leaders of Germany and France congratulated Cameron soon after he took office, and Barack Obama, the US president, invited the new prime minister to visit Washington DC in July.

Obama and Cameron discussed by phone Afghanistan, Iran, and the Middle East, according to Cameron's office.

Cameron and Clegg have expressed doubts over the Afghanistan mission, but Cameron has pledged not to withdraw British troops for at least five years.

Obama said he looked forward to meeting Cameron at an international economic summit in late June, in Canada.

"I reiterated my deep and personal commitment to the special relationship between our two countries," he said in a statement.

Obama also thanked Brown for his friendship and said Brown "provided strong leadership during challenging times, and I have been grateful for his partnership".

Brown goodbye

Standing outside the prime minister's residence on Tuesday, alongside his wife Sarah, Brown wished "the next prime minister well as he makes the important choices for the future".

Brown wished Cameron well as he left office on Tuesday [EPA]

"Only those who have held the office of prime minister can understand the full weight of its responsibilities and its great capacity for good," he said.

Brown said he had "loved the job, not for its prestige, its titles and its ceremony, which I do not love at all", but "for its potential to make this country I love fairer, more tolerant, more green, more democratic, more prosperous, more just - truly a greater Britain".

After his farewell remarks, he went to Buckingham Palace where Queen Elizabeth II accepted his resignation.

He then went to Labour's headquarters, where he told staff that his deputy, Harriet Harman, would serve as interim Labour leader until the party formally chooses a new leader.

 Source: Al Jazeera and agencies
 
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France moves closer to veil ban



UPDATED ON:
Wednesday, May 12, 2010
06:14 Mecca time, 03:14 GMT


Michele Alliot-Marie, the justice minister, says the veil 'stigmatises Islam' [AFP]

French legislators have passed a resolution asserting that face-covering Muslim veils are contrary to the principles of liberty, equality and fraternity on which France is founded.

The non-binding resolution which passed 434 to 0 on Tuesday, lays the groundwork for a planned law forbidding face-covering veils in public, including in the streets.

Legislators in the 577-seat house who opposed the resolution abstained from voting.

The bill calling for the ban goes before parliament in July and a draft text is to be reviewed by the cabinet on May 19.

Tuesday's resolution, sponsored by the conservative party led by Nicolas Sarkozy, the French president, had been widely expected to win approval in the National Assembly with opposition Socialists backing it despite concerns about the wording of an eventual law.

France's neighbour, Belgium, is also planning a similar veil ban.

Criticism

In depth

 The debate for and against the face-veil
 Readers react to France veil report

Sharp criticism has accompanied France's nearly year-long debate on banning the face veils, with those opposed saying, among other things, that the entire process has stigmatised the nation's estimated 5 million Muslims - the largest Muslim population in western Europe.

They also say it is a political ploy because only an estimated 1,900 women wear veils that hide the face.

Michele Alliot-Marie, the justice minister who is writing the draft law, said it is the veil that "stigmatises Islam" and "harms the liberty of women on whom it is imposed".

France banned Muslim headscarves and other "ostentatious" religious symbols in classrooms in 2004 after a bitter debate.

Muslim headscarves and 'ostentatious' religious symbols are banned in French schools [EPA]

The road from a resolution to a bill then a law fully banning face-covering veils is likely to be rocky, too.

Sarkozy's government has been warned by the Council of State, the nation's highest administrative body, that such legislation may not pass constitutional muster, in France or in European forums.

Earlier on Tuesday, a Council of Europe commission opposed a blanket ban on face coverings, saying such a ban would rob women of their freedom of expression and could violate their religious freedoms.

The Strasbourg-based commission also urged Switzerland to end its ban on the construction of mosque minarets as soon as possible.

The Council of Europe, a 47-nation human rights institution, is to discuss the veil issue next month. Its rulings are binding on all Council of Europe member states.

 Source: Agencies
 
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11 May 2010


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Debt Package for Europe Took US Nudge
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Now, Mr. Obama told Mrs. Merkel that the Europeans needed an overwhelming financial rescue to end speculation that the euro — and European unity — could ...
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Europe's Finance Firms Hold $78 Billion Greek, Portuguese Bonds
Bloomberg
By Elena Logutenkova May 11 (Bloomberg) -- European financial companies hold more than 61 billion euros ($78 billion) in Greek and Portuguese sovereign debt ...
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Detroit Free Press
AP NEW YORK -- Stocks rocketed to their biggest gain in a year and bond prices fell Monday after a nearly $1-trillion plan to contain Europe's debt crisis ...
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By Christian Schmollinger May 11 (Bloomberg) -- Crude oil traded below $77 a barrel, paring earlier gains, on concerns that Europe's almost $1 trillion ...
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... reversing earlier gains, on concern a proposed bailout for Europe's indebted nations will fail avert a slowdown in the recovery from a global recession. ...
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Hopes fade in Russia mine rescue




UPDATED ON:
Tuesday, May 11, 2010
12:42 Mecca time, 09:42 GMT


Vladimir Putin visited the site of the coal mine disaster on Tuesday [AFP]

Hopes are fading for dozens of people still trapped in a maze of tunnels after an explosion at a coal mine in Siberia, Russia, that has so far left 47 dead.

Emergency officials on Tuesday said they feared for 43 people stuck inside the Raspadskaya mine, saying that time was running out to get to those who were in areas where anti-flooding systems had failed.

Vladimir Putin, Russia's prime minister, met grieving relatives and injured survivors from the weekend's disaster, and ordered a detailed investigation into the causes of the accident.

"We need to know what led to such a large number of casualties - to a tragedy of such scale," he said.

Valery Korchagin, the emergencies ministry spokesman in the region, said 19 of the dead were rescuers who went into the sprawling mine after the initial blast.

Sudden burst

The first blast occurred late on Saturday as about 350 people were working underground in the mine in Siberia's Kemerovo region.

Just hours later - after rescuers had entered the mine - a second explosion occurred, trapping both the remaining miners and the rescue workers.

Local news agencies cited Sergei Shoigu, Russia's emergencies minister, saying that a sudden burst of methane and coal dust could have caused the blasts.

Earlier in the week, Shoigu said rising water levels in the deep mine gave rescuers a maximum of 48 hours to reach about 13 people trapped in two locations.

The Raspadskaya mine, which is 500 metres deep and has 370km of underground tunnels, produces about eight million tonnes of coal a year, according to the company's website.

Mine explosions and other industrial accidents are relatively common in Russia and other former Soviet republics, and are often blamed on inadequate implementation of safety precautions by companies or by workers.

In December, nine people were killed in an explosion at an iron-ore mine in the Urals Mountains region that was blamed on faulty transportation of explosives.

In 2007, a blast at the Ulankovskaya coal mine, also in Kemerovo, left more than 100 people dead.

The authorities had announced in the aftermath of that blast that all surrounding mines would be checked for safety.

 Source: Agencies
 
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Brown to resign as Labour leader



UPDATED ON:
Tuesday, May 11, 2010
06:29 Mecca time, 03:29 GMT


Brown said 'as leader of my party I must accept that that [the election result] is a judgment on me' [EPA]

Gordon Brown, the British prime minister, has said he will step aside this year in order to try to give his Labour party a chance of forming a government with the smaller Liberal Democrats following the country's inconclusive election.

The Conservative party, which took the most seats in Thursday's poll but failed to secure a majority, has been talking to the Liberal Democrats in order to try to form a government, but Brown said that the Liberal Democrats now wanted to talk to Labour.

"Mr Clegg has just informed me that while he intends to continue his dialogue that he has begun with the Conservatives, he now wishes also to take forward formal discussions with the Labour party," Brown said.

"I have no desire to stay in my position longer than is needed to ensure the path to economic growth is assured and the process of political reform we have agreed moves forward quickly."

"I think it [Brown's departure] makes it much more possible for the Lib Dems to do a deal with Labour," said Julia Margo, director of research at the left-leaning Demos think-tank.

"It throws a massive spanner in the works for the Conservatives. It's going to be a very messy government whichever way you play it.

"Another election in October is what I've got my money on."

Final offer

The Conservative party said on Monday that it had made a final offer to the Liberal Democrats, a referendum on the alternative vote electoral system, as part of talks between the parties on forming a new government.

special report



Final results
Conservative: 306
Labour: 258
Liberal Democrat: 57
Other: 28

"We have agreed that we are going to offer the Liberal Democrats, as a final offer, a referendum on the alternative vote system," George Osborne, one of the party's negotiators said.

"It would be completely undemocratic to introduce a change to the voting system without a referendum."

The Conservatives won 306 of the 649 constituencies in the May 6 election, leaving the party short of the 326 MPs needed for an outright majority.

Labour finished with 258 MPs, down 91, the Lib Dems 57, down five, and other parties 28.

"As leader of my party I must accept that that [the election result] is a judgment on me," said Brown.

"I therefore intend to ask the Labour party to set in train the processes needed for its own leadership election."

The prime miniser did not give a precise timeframe for his departure, but said he hoped it would be done by the time of the Labour party conference, which is scheduled for late September.

Britain's sterling currency fell and government bond futures hit a session low after Brown's comments.

Markets had been hoping for a quick deal between the Conservatives and Liberal Democrats and will not relish the prospect of further delays as parallel talks take place between the Liberal Democrats and Brown's party.

 Source: Agencies
 
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10 May 2010


Who is Europe really bailing out?
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The fundamental cause of the financial crisis has been people and institutions thinking they are wealthy than they are; this spread to Europe as well and ...
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New York Times (blog)
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Forbes
Markets also barreled higher in Europe. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.55 percent from 3.43 ...
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Turkish CHP leader quits over video



UPDATED ON:
Monday, May 10, 2010
16:21 Mecca time, 13:21 GMT


Deniz Baykal said the tape was part of a 'political conspiracy' [Reuters]

The leader of Turkey's main opposition party has resigned following the release of a "sex scandal" videotape circulating on the internet.

The tape, released on Youtube last week, is said to have shown Deniz Baykal, chairman of the Republic People's Party (CHP) allegedly having an affair with a female politician.

But the 71-year-old, an ardent critic of Islamic-oriented policies of the Turkish government, described the incident as a "political act" saying there was a conspiracy against him.

"This is not a sex tape, this is a conspiracy ... Those who were behind this conspiracy did it for political aims,"  Baykal told a televised news conference.

He added that the ruling AK party must have had knowledge of the videotape.

"If this has a price, and that price is the resignation from CHP leadership, I am ready to pay it. My resignation does not mean running away, or giving in," he said.

"On the contrary, it means that I'm fighting it."

'Unprecedented'

Anita McNaught, Al Jazeera's correspondent in Istanbul, said the case was "unprecedented event in Turkish politics.

"There has never been a sex scandal that's toppled a political leader of this seniority. Turkish politics historically has been full of dirty tricks on all sides, but this seems to be a dirtier trick than most."

She said a high level of sophistication was involved in making the video - using a camera planted in a wardrobe in a private house.

"There is absolutlely no indication of who might have been responsible for that.

"In fact the prime minister has asked the head of military intelligence to start looking into how it might have happened.

Baykal said the video was aimed at weakening his party's efforts to prevent the ruling party from implementing its alleged Islamist agenda.

"The target of this conspiracy is not just one person, but the struggle of the CHP...to uphold the republic, democracy and the rule of law," he said.

The CHP has been fighting a constitutional reform package that the government is preparing to send to a national referendum.

Baykal's party had tried to block the reforms through the Constitutional Court.

His resignation, which ended a four-decade political career, also came two weeks before a party congress when he was expected to seek a fresh mandate as the CHP leader.

 Source: Al Jazeera and agencies
 
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Serbia uncovers 'Kosovo mass grave'




UPDATED ON:
Monday, May 10, 2010
12:26 Mecca time, 09:26 GMT

Mass graves, including one containing more than 800 bodies, have previously been found in Serbia [AFP]

A mass grave believed to contain the bodies of 250 ethnic Albanians killed in the 1998-99 Kosovo conflict has been uncovered, Serbian officials have said.

Serbia's war crimes prosecutor said the grave had been found in a pond at a quarry in the country's southwestern region of Raska, with the help of the European Union's law and order mission in Kosovo (Eulex).

"This is more proof that Serbia does not shy away from its dark past and is ready to bring to justice all those who have committed crimes," Vladimir Vukcevic told the AFP news agency.

He said exhumation of the site was expected to begin soon.

Thousands of ethnic Albanians were killed in the Kosovo conflict, while more than 1,000 are still missing.

Alleged cover-up

It is believed that security forces controlled by Slobodan Milosevic, the former Yugoslav president, transported the remains of hundreds of ethnic Albanians to several locations in Serbia, in a bid to cover up mass killings and war crimes.

In 2001, the bodies of more than 800 Kosovo Albanians were found in pits on a police training ground as outside Belgrade and in eastern Serbia.

At least 700 bodies were uncovered in a mass grave located within a special anti-terrorist police unit's compound in the Belgrade suburb of Batajnica suburb.

Another 77 bodies were found in the same police unit's training centre in the eastern Serbian town of Petrovo Selo, and 50 bodies were uncovered nearby the western Serbian town of Perucac.

Vlastimir Djordjevic, a former senior police official and Serbian deputy interior minister during the Kosovo conflict, is believed to have ordered the cover-up operation.

He is currently on trial before the UN war crimes tribunal for the former Yugoslavia (ICTY) in the Hague, the Netherlands, on charges of deportation, forcible transfer, murder and persecution of Kosovo Albanians.

War broke out in the province in 1998 after Serbian forces were sent into crush an independence campaign by ethnic Albanians, who make up 90 per cent of the area's population.

It ended after a Nato bombing campaign in 1999 ousted Serb armed forces from the province, which was then put under UN administration.

Kosovo declared independence in February 2008, and is recognised by about 67, mostly Western, nations.

 Source: Agencies
 
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Stocks rally on EU rescue package




UPDATED ON:
Monday, May 10, 2010
15:08 Mecca time, 12:08 GMT


Additional protests are expected in Greece this week over state austerity measures [AFP]

Stock markets and the euro currency have rallied following the announcement of a $960bn joint European Union-International Monetary Fund package to prevent Greece's debt problems from spreading across the euro zone.

Bourses across Asia rose during trading on Monday, while the UK's FTSE 100 index grew 4.1 per cent in early trading, the Paris CAC grew 7.0 per cent and Germany's DAC made a 4.0 per cent gain.

Under the three-year aid plan, announced after 11 hours of talks in Brussels, the European Commission will make about $77bn available, while countries from the 16-nation euro zone promised loans and loan guarantees of $570 billion.

The International Monetary Fund (IMF) is to match at least half of the EU's total contribution, or about $324bn.

Greece's borrowing costs fell sharply after the deal and stocks rallied.

The difference between yields on Greek 10-year bonds and their benchmark German equivalents was at 5.21 percentage points, down massively from a record 10.25 points on Friday.

The general share index on the Athens stock exchange gained 9.68 per cent in midday trading, reaching 1,788.32 points.

'Huge dimension'

"It was a rescue package of huge dimension. Nobody expected this amount of money to be put on the table," Vassilus Vlastarakis, the head of research at Beta securities, said.

in depth
  Pictures: Greece protests
  Q&A: Greek economic crisis
  Blogs
  The Greeks are angry
  Sacrifice and suffocation for Greece
  The humiliation of Greece
  People & Power: The bankrupt state
  Inside Story: A financial bailout for Greece?
  Counting the Cost: Greece is the word
  Videos:
  Greek protests turn deadly
  Greece hit by anti-austerity rally
  Wake-up call for Greek economy
  Fears grow over debt crisis

"Of course the market reacted very positively. It started around eight-nine percent in the plus side. And we expect it to last."

The EU's slow response to the crisis and its failure to keep Greece from reaching the brink of bankruptcy triggered the slides in the euro and global stocks last week, and intensified fears the crisis would spread.

The euro had sunk to a 14-month low against the dollar last week, but on Monday it recovered to $1.3.

Al Jazeera's Jonah Hull, reporting from the London Stock Exchange, said that investors had welcomed the stability package.

"It is being called a relief rally here. A response to the deal concluded in Europe and a reflection of the importance of the euro zone to business prospects," he said. 

But Hull said that with the UK, which is not in the euro zone, still undergoing a political deadlock after inconclusive elections last week the rally may quickly relapse there.

He quoted one senior broker as saying: "The UK is on thin ice and we can hear it creaking."

The two main opposition political parties in the UK are currently wrangling over the terms for forming a possible coalition government.

UK markets shed $50bn on Friday due to concerns over stability in the euro zone and the political situation at home.

Buying bonds

European central banks began buying government bonds from those countries with most uncertainty on Monday as their part of the agreement.

The German and Finnish central banks confirmed that they had started buying the bonds, with all euro zone central banks to follow suit.

The safety net was meant to fend off dealers on the financial markets from speculating on countries with bloated budgets, such as Portugal, Spain and Ireland.

Greece has committed to significant austerity measures - tax increases and spending cuts - to receive separate emergency loans of $140bn from the EU and IMF to solve its problems.

George Papaconstantinou, Greece's finance minister, said on Monday that his country would now be able to pay off creditors.

"Over the next few days, payment will start of the first section of the loans from the European Union and the International Monetary Fund, so that the country has no problems whatsoever with its borrowing needs and servicing its debt this month, and for months to come," he said.

'Deep recession'

Barnaby Phillips, Al Jazeera's correspondent in the Greek capital Athens, said once Athens starts to receive the funds there would be little chance that it could meet public calls back down on the austerity measures.

"It is almost inconceivable in fact," he said.

"The result is that Greece is probably doomed to deep recession that may last years and it is doomed to profound social changes and indeed social tensions.

"The up side, if you like, is that assuming that Greece is eligable for all these new funds that are being pledged on top of the $140bn Greece was already granted last week it is harder to see how Greece will default on its debt further down the road."

However, Phillips said that the Greek public remained acutely uncertain about its future.

"We will have to see in the weeks and months ahead which way public opinion goes. There are no big protests planned in Athens today but we are hearing there will be more later in the week." 

 Source: Al Jazeera and agencies
 
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EU agrees $960bn 'stability' deal




UPDATED ON:
Monday, May 10, 2010
11:51 Mecca time, 08:51 GMT


Finance ministers reached agreement on the 'stability' package after 11 hours of talks in Brussels [EPA]

European Union finance ministers have announced a nearly $1 trillion emergency package to safeguard the euro currency and protect vulnerable economies from falling into the same debt crisis as Greece.

Under the three-year aid plan, announced early on Monday after 11 hours of talks in Brussels, the European Commission will make about $77bn available, while countries from the 16-nation euro zone promised loans and loan guarantees of $570 billion.

The International Monetary Fund (IMF) is to match at least half of the EU's total contribution, or about $324bn, Elena Salgado, the Spanish finance minister, said.

"We are placing considerable sums in the interest of stability in Europe," she said.

Olli Rehn, the EU's monetary affairs commissioner, said the agreement "proves that we shall defend the euro whatever it takes".

Market 'wolf pack'

The safety net was meant to fend off what Anders Borg, the Swedish finance minister, called the "wolf pack" of financial markets from preying on countries with bloated budgets, such as Portugal, Spain and Ireland.

in depth
  Pictures: Greece protests
  Q&A: Greek economic crisis
  Blogs
  The Greeks are angry
  Sacrifice and suffocation for Greece
  The humiliation of Greece
  People & Power: The bankrupt state
  Inside Story: A financial bailout for Greece?
  Counting the Cost: Greece is the word
  Videos:
  Greek protests turn deadly
  Greece hit by anti-austerity rally
  Wake-up call for Greek economy
  Fears grow over debt crisis

Asian stock markets rose on Monday following the EU announcement, with major benchmarks such as Japan's Nikkei and Hong Kong's Hang Seng leading the advance.

The euro, which last week sank to a 14-month low against the dollar, rose in early trade in Asia while prices of gold, considered a safe haven investment, fell after touching near record highs last week.

The EU's slow response to the crisis and its failure to keep Greece from reaching the brink of bankruptcy triggered slides in the euro and global stocks last week, and intensified fears the crisis would spread.

Jan Friederich, a senior economist with The Economist Intelligence Unit, a management and advisory firm in Hong Kong, said the EU emergency package was likely to lead to a lot of support for European markets in the short term.

"But the long-term issue of whether restructuring will be needed after the programme fades out in three years will remain a serious issue of concern," he told Al Jazeera.

"The big concern is that now more and more governments are instituting consolidation programmes that will undermine the GDP growth in these countries.

"That of course has a very serious impact on public finances. That in a way is also undermining the capacity of these governments to pay back their debts in the long term."

Consolidation measures

Ministers from Spain and Germany said on Monday that euro zone countries would speed up their efforts to tackle their fiscal problems, with Spain and Portugal committing to "take significant additional consolidation measures in 2010 and 2011" and present them to the EU's finance ministers on May 18.

The IMF welcomed the EU's announcement, saying it would help restore confidence and financial stability in euro zone countries.

"These are strong measures that will help to secure global economic and financial stability, and preserve the global economic recovery," Dominique Strauss-Kahn, the IMF chief, said.

"Implementation of actions to put public finances on a sustainable footing is key to restoring economic health in Europe."

The G20 group of developed and developing nations said that the measures would address "severe tensions in financial markets".
  
"The G20 will continue to monitor closely the development of global markets, and remains strongly committed to continue to work together to maintain global financial stability and ensure strong, sustainable and balanced growth," it said in a statement from South Korea.

Financial speculation

The actions of financial speculators have been criticised for exacerbating the crisis and threatening contagion into other weak euro zone economies.

But some euro zone nations blamed fragile government and a lack of European co-operation for the crisis.

The euro sank to a 14-month low against the
US dollar last week [Reuters]

Josef Proell, the Austrian finance minister, said he was "against putting all the blame on speculation".

"Speculation is only successful against countries that have mismanaged their finances for years," he said.

Policymakers around the globe are worried the crisis in Greece could spread to other countries, fears compounded by the unexplained shock plunge in US stocks that shook up already nervous markets.

In a sign of the global concerns about the euro zone's crisis, Barack Obama, the US president, spoke by phone with Angela Merkel, the German chancellor, about the importance of EU members acting to build confidence in markets.

And the US Federal Reserve, or central bank, on Sunday opened a programme to ship US dollars to Europe in a move to head off a broader financial crisis on the continent.

Other central banks, including the Bank of Canada, the Bank of England, the European Central Bank and the Swiss National Bank, are also involved in the effort.

The Bank of Japan on Monday offered $21.6bn in liquidity, the second financial injection since Sunday, in an attempt to calm the markets.  

 Source: Al Jazeera and agencies
 
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Google News Alert for: Europe News


09 May 2010


AFP
Ash cloud grounds flights in southern Europe
AFP
In France, the airspace remained open but at least 70 flights bound for southern Europe were grounded at airports in Paris, Lyon, and Nice, ...
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Israeli Stocks Slump, Bonds Gain on Europe Debt Crisis Concerns
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Those last two qualities, among his other defence and foreign policy credentials, made him the perfect Obama administration emissary to Europe last week at ...
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Regional poll tests Merkel alliance




UPDATED ON:
Sunday, May 09, 2010
09:34 Mecca time, 06:34 GMT


Polls state that Merkel's alliance will not gain a majority in Sunday's regional election [AFP]

Germans are voting in a regional election in North Rhine-Westphalia, the country's most populous state, in a test of the conservative government's popularity.

The government of Angela Merkel, the chancellor, is hoping that it will not face a backlash to committing billions of dollars to bailing out Greece's failing economy in Sunday's vote .

Merkel's Christian Democrats (CDU) are in a federal alliance with the Free Democrat Party (FDP) and the poll is set to be a referendum on their rule, which is about six-months-old.

The pairing needs to keep hold of the state to maintain its majority in the upper house of parliament.

Voting stations opened at 06:00 GMT and will close at 16:00 GMT.

The poll comes just two days after Germany's parliament approved about $28bn in emergency loans over three years to Greece as part of a EU-International Monetary Fund rescue package.

in depth
  Pictures: Greece protests
  Q&A: Greek economic crisis
  Blogs
  The Greeks are angry
  Sacrifice and suffocation for Greece
  The humiliation of Greece
  People & Power: The bankrupt state
  Inside Story: A financial bailout for Greece?
  Counting the Cost: Greece is the word
  Videos:
  Greek protests turn deadly
  Greece hit by anti-austerity rally
  Wake-up call for Greek economy
  Fears grow over debt crisis

A YouGov poll on Saturday said that 21 per cent of state voters would change their vote due to the Greek bailout.

"The issue has electrified people as seldom before and is going to play a determining role" in the election, Klaus-Peter Schoeppner, head of the polling institute Emnid, said.

Merkel has made more than 15 visits to the region recently and made frequent media announcements this week on why the aid to Greece, that is opposed by most Germans, is needed.

Many Germans believe the Greek loan money should be used to ease fiscal tightening at home.

"The election is extremely important because it is the first vote after the federal election and the poll in this big German state is being seen as a test for her," Gerd Langguth, a political scientist at Bonn University and biographer of Merkel, said.

An ending of the CDU and FDP majority in the Bundersrat, the upper house, would cause delays in policy enactment approved after last September's elections, including tax cuts.

Polls show that the alliance will not get a majority in the vote, in which 13.5 million citizens are eligable cast ballots.

However, Langguth said that if the CDU-FDP majority was lost, as expected, "it would not be a catastrophe but it would certainly make things more complicated and difficult for the chancellor".

 Source: Agencies
 
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Ash set to halt more Europe flights




UPDATED ON:
Sunday, May 09, 2010
05:45 Mecca time, 02:45 GMT


Eurocontrol fears that 'if the winds change, there will be very significant closures in Europe' [EPA]

Disruption of flights across the Atlantic and parts of Europe are expected to continue on Sunday with the spread of potentially dangerous ash from Iceland's Eyjafjallajokull volcano.

The forecast chart of volcanic activity for early Sunday by Eurocontrol showed a solid line of cloud extending from Greenland to the Azores and Madeira islands in the mid-Atlantic, at altitudes up to 35,000 feet - right in the path of most trans-Atlantic flights.

Italy became the latest country to announce restrictions, with the civil aviation authority ENAC said no flights would be allowed over a large swath of the north from 8am to 2pm (06:00 GMT to 12:00 GMT) on Sunday because of the volcanic cloud.

Eurocontrol, the agency that co-ordinates aviation safety in Europe, said airports were also expected to close in northern Portugal and parts of southern France.

The agency warned on Saturday of a rise in emissions from the volcano, saying: "The area of potential ash contamination is expanding in particular between the ground and 20,000 feet."

Spanish shutdown

Spain closed 19 airports on Saturday, with the government saying more than 400 flights would be cancelled, leaving almost 40,000 people stuck in airports stretching from La Coruna in the northwest to international hub Barcelona in the northeast.

Special report
Volcano chaos

Air traffic was expected to be affected until 00:00 GMT on Sunday morning, at which time flights were expected to gradually resume.

However, the government said there was a chance the cloud could still be affecting Spain next week.

Most flights between Europe and North America were being diverted because of the ash cloud's latest drifting, officials at Eurocontrol said.

Flights are being rerouted north and south of the 2,000km long cloud.

Airspace across Europe was almost completely shut down for around a week last month after Eyjafjallajokull erupted and threw up an ash cloud over most of the continent.