Eurozone crisis prompts global sell-off as Greek deal is delayed
US now in bear market territory amid fears banks
face bigger losses in Greece
By Ben Chu, Economics Editor
Wednesday, 5 October 2011
Stock markets across the world plunged yesterday as European finance ministers announced they would delay a decision on releasing €8 billion (£7bn) in emergency payments to Greece until November.
The Eurogroup also announced its intention to impose greater haircuts on the holders of Greek sovereign bonds, reopening a deal agreed in July that would see banks accept a 21 per cent write-down on the value of their holdings of Greek debt.
Libyan forces plan 'final' attack
irishtimes.com - Last Updated: Wednesday, October 5, 2011
Libyan interim government forces have pledged to mount a final decisive attack on Muammar Gadafy's hometown and one of his former lieutenants says he believes the deposed leader is ready to fight to the end.
"I think Gadafy ... has not left the country. I strongly believe, based on my knowledge of him, that he is fighting with his weapons and alongside his men," Col Gadafy's former prime minister Al-Baghdadi Ali al-Mahmoudi, who is in prison in Tunisia, said in comments issued by his lawyer.
"He will not give up and he will not lay down his weapons until the end," Mr Mahmoudi said yesterday.
Motlanthe: SA would have granted Dalai Lama a visa
JOHANNESBURG, SOUTH AFRICA - Oct 05 2011
The Star newspaper said it had asked Motlanthe if the government would have granted the Tibetan spiritual leader a visa if he had not cancelled his trip to attend Archbishop Emeritus Desmond Tutu's 80th birthday celebrations at the weekend.
Motlanthe replied, according to the Star: "Of course, he has been here before. I don't see why it should be an issue at all."
Motlanthe, who recently concluded a trip to China, denied that there had been pressure from Beijing not to grant the Dalai Lama the visa.
Motlanthe replied, according to the Star: "Of course, he has been here before. I don't see why it should be an issue at all."
Motlanthe, who recently concluded a trip to China, denied that there had been pressure from Beijing not to grant the Dalai Lama the visa.
Hitachi workers continue to face hot spots at Fukushima plant
2011/10/05
HIRONO, Fukushima Prefecture -- They survived the Great East Japan Earthquake and tsunami, narrowly escaped hydrogen explosions and are now braving radiation levels that force them to leave after only a few minutes.
But Hideo Kawai and Ikuzo Tomioka, who have continued working at the crippled Fukushima No. 1 nuclear power plant since the disaster struck on March 11, have no plans to leave.
"We are responsible for giving it our all as a manufacturer," Kawai said.
When is a golf tournament not just a tournament? When it's in North Korea.
Mao Zedong's 'ping-pong diplomacy' thawed Chinese-US ties. Could Kim Jong-il's 'golf club diplomacy' do the same for North Korean-US relations?
By Bryan Kay, Correspondent
Call it "golf club diplomacy." North Korean leader Kim Jong-il’s latest charm offensive involves a golf tournament, open to one of his country’s rarest sights: outsiders.
Mr. Kim may well be taking a page from 1971. That's when Mao Zedong, then leader of Communist China, famously invited American table tennis players to his country for a series of matches against local stars of the game. The move, later labeled “ping-pong diplomacy,” led to a thaw in Chinese-US relations.
North Korea's latest attempt at detente – the use of golf to entice a new branch of tourists – represents a departure from decades in the shadows as a notorious recluse.
Iraq, Afghanistan wars not worth fighting, many vets say
Pew report examines attitudes on conflicts, terrorism and burdens and rewards of military
msnbc.com staff and news service reports
As the United States marks 10 years of war, only a third of the veterans of the post-9/11 era say that the conflicts in Afghanistan and Iraq have both been worth fighting, according to a new Pew Research Center report.
While a majority of veterans are proud of their military service, about half say that relying too much on military might to defeat terrorist organizations fuels hatred and that only begets more terrorism.
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