 | | | | | | | Newsletter | 16.10.2008, 16:30 UTC | | | Newsline | | | World news: international | | | | | | | | | News | | | | | Current Article | | | | Sarkozy calls for EU economic stimulus package
The European Union summit in Brussels has wrapped up with a call from French President Nicolas Sarkozy for EU nations to consider adopting an economic stimulus package. Sarkozy, whose country holds the EU presidency, said France and EU officials would make specific proposals in the next couple of months. He said the leaders had also agreed to create a crisis cell, to co-ordinate response to the turmoil on the world's financial markets. Earlier, German Chancellor Angela Merkel said that the EU leaders had agreed to stick to a December deadline for agreeing ambitious measures to combat climate change. She left the summit early to return to Berlin for negotiations with the premiers of Germany's 16 states over the federal government's €500 billion bank bailout. Some premiers have expressed scepticsm about the deal, which was agreed last weekend as part of a joint EU strategy to combat the global credit crunch. The states would have to pay for more than 30 percent of the bailout. |  | | European markets slump after Asian sell-off
The global financial crisis continues to plague international stock markets. In New York, the Dow Jones shed over two percent in early trading. In Europe, Frankfurt's DAX is down by about four percent. The CAC 40 in Paris and London's FTSE 100 are both more than five percent off their opening values. This follows severe slumps in Asian trading. Tokyo's Nikkei index closed 11 percent down and South Korea's main index slid by over nine percent. | | | Top Swiss banks get capital injection
Switzerland's two largest banks say they are set to receive emergency funding from the government and other investors to shore them up against the financial crisis. UBS said it was getting a recapitalisation worth about 4 billion euros from the Swiss government. The country's second-largest bank Credit Suisse said it had raised about 6.5 billion euros worth of new capital from a small group of global investors, including a subsidiary of the Qatar Investment Authority. The news came even as Credit Suisse posted a loss of over 850 million euros for the third quarter. | | | Germany downgrades growth forecast for 2009
Germany's Economics Minister, Michael Glos, says his country is likely to teeter on the brink of recession next year. The economics ministry has slashed next year's growth forecast from 1.2 percent to 0.2 percent. Glos said there were clear signs of an approaching slowdown for Europe's largest economy, but added that he still expected the economy to grow by around 1.7 percent this year. | | | Bundestag to vote on Bundeswehr mission in Afghanistan
The German parliament is set to vote on whether to extend the mandate of the Bundeswehr's mission in Afghanistan by another 14 months. This means it wouldn't be up for renewal until after next year's parliamentary elections. The new mandate would allow for an increase in the German contingent in the NATO-led International Security Assistance Force by 1,000 soldiers. Germany already has around 3,500 troops stationed in northern Afghanistan. Earlier this month, the cabinet agreed to extend the Bundeswehr mission and the Bundestag is expected to endorse the decision. | | | Madrid court to question three Spanair mechanics
A Spanish judge is set to question three mechanics in connection with a plane crash that killed 154 people two months ago on suspicion of manslaughter. A spokesman for the Madrid superior court said Judge Juan Javier Perez had also ordered the creation of a second investigation commission to deal with the crash. Earlier this month the first official report into the passenger jet crash said investigators were focusing on a problem with the plane's wing flaps and the failure of a cockpit alarm to sound. It said no conclusions had been reached as to why the plane went down August 20.
| | | Spain stages pre-dawn raids on suspected terrorists
Spanish police have arrested at least eight Moroccan men accused of harbouring terrorists, and helping them flee the country. Police made the arrests in pre-dawn raids in three north-eastern towns near Barcelona. The suspects allegedly belonged to a cell that helped raise funds and recruits for al-Qaeda linked terrorists. Spanish authorities also believe the suspects sheltered five people connected to the Madrid train bombings of 2004, and then helped them flee the county. | | | OSCE sees progress in Azerbaijan vote, shortcomings remain
Monitors from the Organisation for Security and Cooperation in Europe (OSCE) say Azerbaijan's presidential election marked progress but that shortcomings were observed in particular during the crucial phase of the vote count and tabulation. The OSCE emphasised that Wednesday's election lacked competition after the top five opposition parties boycotted the vote, citing concerns about fraud and curbs on democracy. At a joint news conference in Baku, opposition leaders accused the authorities of manipulating figures which put turnout at 77 percent and gave the incumbent Ilham Aliyev almost 90 percent of the vote. The oil-rich Central Asian country has been ruled by the Aliyev family for more than 30 years. | | | Thailand, Cambodia agree to joint border patrols to reduce tensions
The Thai military says it has agreed to joint patrols with Cambodia at a disputed section of their border. A Thai army spokesman said the agreement came during talks between the countries' military commanders, a day after clashes left two Cambodian soldiers killed and 10 soldiers from both sides wounded. Cambodia's army commander said the two militaries had agreed to prevent further clashes, but that talks would continue over a section of land near an ancient temple that both countries claim as their territory.
| | | German national broadcasters pull out of Tour de France
German national broadcasters ARD and ZDF say they are dropping live coverage of the Tour de France after recent doping cases. The ARD radio and television network said the doping cases had greatly reduced the sporting value of cycling's premier event. Shortly after the announcement was made, organisers of Germany's Tour said they would be cancelling next year's cycling event due to doping-related issues. Cycling in Germany has lost a great deal of credibility with the spate of doping cases in the last two years, many involving German riders. | | | | | |  | | |  Up-to-date news at DW-WORLD.DE | | | | | | |  | | | Note
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German Parliament Approves Extra Troops for Afghanistan
