 | | | | | | | Newsletter | 15.10.2008, 16:15 UTC | | | Newsline | | | World news: international | | | | | | | | | News | | | | | Current Article | | | | EU leaders discuss credit crisis, climate change
The European Commission has introduced a proposal to increase minimum state guarantees on bank deposits of €100,000, from the current €20,000. European Union governments have already agreed in principle to raise the minimum guarantee to €50,000. Some EU countries have already unilaterally raised their deposit guarantees above that level. The proposal came at an EU summit in Brussels, where the leaders of the bloc's 27 member states have been discussing ways of tackling the global financial crisis. This comes just days after an emergency eurozone summit in Paris, where leaders agreed on a set of guidelines for national governments to implement concrete steps to ease the credit crunch. The EU leaders were also to use the Brussels talks to discuss a common approach to combating global warming. |  | | Merkel defends aid to troubled German banks
Chancellor Angela Merkel has used a speech to the lower house of parliament in Berlin to defend her government's decision to use €500 billion of taxpayers' money to rescue troubled German banks. The chancellor said the global economy was facing its most difficult challenge since the Great Depression of the 1930s. She also said that the funds were being used not to save individual private banks, but instead to safeguard the interests of the country's citizens. Merkel also said Germany would push for new regulations for the global financial system, reiterating her demand that the International Monetary Fund take on a stronger supervisory role. The government is hoping to put the bailout package to a vote in parliament on Friday. | | | World Stocks slip after two-day rally
European stock markets have fallen sharply after a two-day rally amid concerns that global efforts to restore confidence in the battered financial system won't be enough to stave off a recession. Frankfurt's DAX, London's FTSE 100 and the Paris CAC 40 were down over six percent in afternoon trading. Meanwhile US stocks have also taken a beating in morning trading with the Dow Jones down by more than three percent. This comes after economic data raised the possibility that the US was either in a recession or moving toward one. | | | Russian, Georgian talks appear to break down
Talks in Geneva between Russia and Georgia on the future of the Georgian breakaway regions of South Ossetia and Abkhazia have been suspended. A spokesman for the European Union said the meeting had run into what he described as "procedural difficulties," and that both sides had agreed to meet again in mid-November. The talks were being mediated by the EU, the United Nations, and the Organisation for Security and Co-operation in Europe. The meeting had been expected to tackle sensitive military and humanitarian issues as refugees return to Georgian villages following a Russian troop withdrawal. Georgia and Russia fought a brief war over South Ossetia back in August. Moscow has since recognised both Georgian breakaway regions as independent states. | | | Polls close in Azerbaijan presidential election
Polling stations have closed in the ex-Soviet state of Azerbaijan. The presidential election is almost certain to return incumbent Ilham Aliyev for a second five-year term. Leading opponents were boycotting the vote, accusing Azerbaijani authorities of persecuting the opposition, muzzling the media and fixing previous polls. The Central Elections Commission said about 64 percent of the country's almost 5 million voters cast their ballot despite the opposition's boycott. Election results are expected later this evening. The oil-rich country lies at a strategic crossroads between East and West straddling a region that is becoming increasingly important as a major energy transit route from Central Asia to Europe. | | | Lebanese, Syrian foreign ministers launch diplomatic ties
Syria and Lebanon have established diplomatic ties for the first time since the two countries gained their independence from France 60 years ago. A joint statement signed by the two countries' foreign ministers at a ceremony in the Syrian capital, Damascus, said they would set up embassies in each other's capitals by the end of this year. Syria had a major military presence in Lebanon for almost 30 years. It pulled its troops out of the country under the international and domestic pressure that followed the 2005 assassination of former Lebanese Prime Minister Rafiq al-Hariri. Damascus has denied international accusations that it was behind the killing. | | | Cambodian, Thai troops in border clash
At least two Cambodian soldiers have been killed in fighting with Thai troops in a disputed border region. Speaking in Phnom Penh, Cambodian Foreign Minister Hor Namhong added that at least 10 Thai troops had been captured in the brief gun battle and that they would be returned to Thailand if Bangkok requested. The two countries have been at loggerheads over land near an ancient Hindu temple since July, and tensions soared this week after talks on Monday failed and about 80 Thai troops entered the area. The clash came a day after Cambodia's prime minister issued an ultimatum to Thailand to pull back its soldiers from the disputed territory. | | | US forces kill top terrorist in Iraq
US forces say they have killed the second-in-command of al Qaeda in Iraq. Army officials said they had identified the militant, named Abu Qaswarah, this week after he was killed in a raid in the northern Iraqi city of Mosul on October 5. A US military spokesman said Abu Qaswarah, a native of Morocco, had trained with al Qaeda in Afghanistan and been in contact with insurgent leaders in Pakistan. He allegedly oversaw foreign militants in northern Iraq and had ties with Abu Musab al-Zarqawi, a senior al Qaeda leader, who was killed in a US air strike in June 2006. | | | | | |  | | |  Up-to-date news at DW-WORLD.DE | | | | | | |  | | | Note
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Merkel Rallies for Germany's Bank Bailout Plan
