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Keyword: italy

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  • EU: [Italian premier Mario] Monti plans 'Greek-style' takeover of Sicily to avert default

    07/19/2012 2:38:10 PM PDT · by bruinbirdman · 3 replies
    The Telegraph ^ | 7/18/2012 | Ambrose Evans-Pritchard
    Italian premier Mario Monti is mulling emergency action to take direct control of Sicily’s regional government before the island spirals into a full-blown financial crisis, fearing contagion to the rest of Italy. A woman begging in the street in Sicily. Regional councillor Andrea Vecchio has warned the island has run out of money Mr Monti held an “urgent” meeting with the country’s president Giorgio Napolitano on Wednesday to grapple with the constitutional issue after it emerged that the region faces a deficit of up to €7bn (£5.49bn) this year and is in danger of default without sweeping cuts. Sicily’s regional...
  • Italy's Monti says serious worry Sicily region may default

    07/17/2012 11:11:26 AM PDT · by mojito · 5 replies
    Reuters ^ | 7/17/2012 | Unattributed
    Italian Prime Minister Mario Monti said on Tuesday he expected the governor of Sicily to resign following a growing financial crisis that has pushed the autonomous region close to default. Monti said in a statement there were "grave concerns" that the island could default and he said he had written to the governor Raffaele Lombardo seeking confirmation that he would resign by the end of the month.
  • New cars in Europe may have to cut carbon emissions by one-third

    07/12/2012 4:53:07 PM PDT · by Olog-hai · 16 replies
    EurActiv ^ | 12 July 2012 | Fiona Harvey for the Guardian, part of the Guardian Environment Network
    New cars and vans in the European Union will produce one-third less carbon dioxide within eight years, under proposed new rules set out on Wednesday (11 July) in Brussels. By 2020, the average emissions from new cars will have to be no more than 95 grams of carbon dioxide per kilometer driven (5.4 oz/mile), a cut of more than 40 grams from today's levels and of 35 grams per kilometer compared with the 2015 target, if the proposed new regulations are accepted. Connie Hedegaard, climate chief of the European commission, said the goals were "ambitious but achievable" and would benefit...
  • The British, at Least, Are Getting Tough (Barclays rigging of LIBOR)

    07/08/2012 1:42:13 PM PDT · by neverdem · 12 replies
    NY Times ^ | July 7, 2012 | Gretchen Morgenson
    THE unfolding story of how Barclays — and, in all likelihood, other big banks — rigged interest rates is full of telling tidbits about the way Wall Street works. It also represents yet another teachable moment. By now the world knows that Barclays manipulated the most widely used benchmark rate, the London interbank offered rate. But Barclays is just one member of the cozy club that sets the Libor, which is supposed to be based on the average rate at which large banks can borrow money overnight. It’s not based on actual transactions, however — and that leaves room for...
  • Tuscan village on sale on Ebay for 2.5 million euros

    07/05/2012 3:34:27 AM PDT · by SunkenCiv · 22 replies ^ | June 28, 2012 | unattributed
    A medieval village, set in the Tuscan hills of Italy among castles and monasteries, can be yours for €2.5 million. Pratariccia, which is situated about 25 miles east of Florence, has now been put on sale through ebay, the popular online shopping website. The village consists of 25 homes and eight hectares of land. The village has been abandoned for over fifty years, so many of the buildings are in a ruined state and electricity lines would need to be established. Also, no roads exist that lead to the village. Local estate agent Carlo Magni said in an interview, "It's...
  • We Will Regret Having Qatar as an Ally Qatar a U.S. Ally? Think Again

    02/27/2012 2:36:20 PM PST · by bayouranger · 11 replies · 2+ views
    After 9/11, it became commonplace to ridicule the status of Saudi Arabia as an “ally.” For decades, American leaders cuddled up to the Saudi Royal Family as it spent billions of dollars to export radical Islam around the globe. Today, the U.S. is eager to have our “ally,” Qatar, take a leading role in the region while it does the exact same thing. Qatar is home to Sheikh Yousef al-Qaradawi, the most influential Sunni theologian and top Muslim Brotherhood cleric. He uses his popular show on Al-Jazeera, also based in Qatar, to rally support for Hamas, the Muslim Brotherhood and...
  • Euro debt crisis: is complete pessimism justified?

    07/02/2012 10:29:31 PM PDT · by bruinbirdman · 7 replies
    The Telegraph ^ | 7/1/2012 | Roger Bootle
    <p>It isn’t only that the immediate outlook looks grim but also that they can apparently see no way out. Yet throughout the post-war period, economists have tended to think that there is always a way out – and they have been trained to try to find it. Is the current abject pessimism justified?</p>
  • EU: German Dominance in Doubt after Summit Defeat

    07/02/2012 11:30:44 PM PDT · by bruinbirdman · 9 replies
    Spiegelonline ^ | 7/2/2012 | SPIEGEL Staff
    Outfoxed by Club Med Chancellor Merkel suffered a bruising defeat at last week's Brussels summit after leaders of Italy, Spain and France ganged up on her. Europe's power relations have shifted as a result. It looks like Germany will no longer be calling the shots in the EU. It was Monti, of all people, "Super Mario," as he's called in Berlin. The affable economics professor from Lombardy, the man the German Chancellery felt was the best thing that could have happened to Italy. The man who could "save Europe," at least according to Time magazine. It was Monti, of all...
  • Stunning Rise in Anti-Euro Sentiment in Italy

    06/30/2012 8:44:48 AM PDT · by Kaslin · 7 replies ^ | June 30, 2012 | Mike Shedlock
    The rise of the Five Star Movement in Italy is the number one happening in Europe right now and mainstream media has not even begun to cover it in any depth. The movement is led by an Italian comedian, Beppe Grillo. Main Rules for the Five Star Movement Not be an elected politician prior to 5 Stelle Commit to stay in charge for no longer than 2 termsCommit to take a minimum salary and give the rest back to the communityPost a public platform on the internet Be willing to hold a public debate on the platform Beppe Grillo's personal...
  • Mafia writer gets asteroid named after him

    07/01/2012 1:19:38 AM PDT · by JoeProBono · 9 replies
    upi. ^ | June 30, 2012
    ROME, - An Italian journalist and author known for exposing the Naples mafia was honored by having an asteroid named after him, officials said. Roberto Saviano had asteroid No. 278447 named after him Friday, Italy's ANSA news agency reported. Saviano was given the honor by the International Astronomical Union for exposing "the Camorra's organized-crime activities in his 2006 best-seller 'Gomorrah.'" Saviano received death threats for his novel and was placed under round-the-clock police protection after its publication. "Gomorrah" was later turned into a film and won second prize at Cannes and five European Film Awards in 2008. "Thank you Dr....
  • Berlusconi Ratchets Up Pressure on Monti [Is Bunga Bunga Back?]

    06/28/2012 6:23:06 PM PDT · by bruinbirdman · 2 replies
    Spiegelonline ^ | 6/28/2012
    By commenting that Germany should perhaps leave the euro and exerting significant pressure on Prime Minister Mario Monti, former Italian premier Berlusconi is back in the headlines. Are his political escapades those of a senile billionaire or is he seriously thinking of returning to power? On Tuesday afternoon in Rome, Italian Prime Minister Mario Monti and his predecessor Silvio Berlusconi were sitting at a table with a few close associates. Monti, alarmed by Berlusconi's recent statements, which were sometimes threatening and sometimes confused, was seeking clarity. Monti said that in such a sensitive and decisive moment, Italy's parliament must stand...
  • Euro 2012 SF: Italy 2 Germany 1

    06/28/2012 7:48:50 PM PDT · by aquila48 · 10 replies
    The Daily Star ^ | June 29, 2012 | Kenny Laurie
    Italy took advantage of some woeful German defending to book a date with Spain in the final of Euro 2012, winning 2-1 in Warsaw Thursday. The Italians went into the game as the underdogs but Mario Balotelli’s clinical finishing in a stunning first half was enough to secure Italy a place in Sunday’s final. Only ineptitude by Italy’s attackers in the second half stopped the game from being a total rout as Germany’s defenders put in a horrible performance. Read more: (The Daily Star :: Lebanon News ::
  • French Still Want To Vacation Midst Financial Crisis

    06/27/2012 1:38:04 AM PDT · by Cincinna · 18 replies
    Despite the euro crisis becoming increasingly dire as European governments scramble to patch up the broken banking system in Spain and shore up sovereign debt and budget deficits, French citizens still overwhelmingly want to go on vacation this summer. According to an l’Institut Français d’Opinion Publique (IFOP) poll, 73 percent of French citizens — a sizeable increase from last year — are still considering going on vacation this summer, with nearly a quarter saying that vacations of “three weeks” are ideal. If you thought the French weren’t belt-tightening, however, you’d be wrong. More French citizens seem to prefer shorter vacations...
  • 'U.S. Per Person Debt to Increase 7 Times Faster than Italian Debt'

    06/20/2012 12:01:13 PM PDT · by Hunton Peck · 9 replies
    The Weekly Standard ^ | 2:35 PM, Jun 20, 2012 | DANIEL HALPER
    A new chart, set to be released later today by the minority office of the Senate Budget Committee, finds that, in the next five years, "U.S. Per Person Debt To Increase 7 Times Faster Than Italian Debt." According to the chart, which is based on numbers calculated by the International Monetary Fund, U.S. per person debt is currently $52,900, while Italy's per person debt is $41,200. In five years, America's is projected to be $67,500, and Italy's $43,200. The chart stipulates that these figures are based on "General government (federal, state, and local) gross debt per person in nominal U.S....
  • EU studying links between Italian mafia and Somalian pirates

    06/20/2012 2:19:52 AM PDT · by Olog-hai · 5 replies
    EU Observer ^ | 06/20/2012 @ 09:28 | Andrew Rettman
    The EU special envoy for Somalia is looking into a fresh report that pirates are in business with Italian gangsters on toxic waste. The Paris-based criminologist, Michel Koutouzis, who carries out investigations for the UN and for EU institutions, described the problem in a new book—Crime, Trafficking and Networks—published in May. He said organized crime groups in south Italy—the Camorra, 'Ndranghetta and La Sacra Corona Unita—supply Somalian warlords with black market small arms from the Western Balkans in return for permission to dump waste. "Tonnes of waste are discharged every year off the coasts of Somalia, Sudan and Eritrea under...
  • The Life and Ideology of The New Terrorists (resurgence of anarchism in Europe)

    06/18/2012 11:19:25 PM PDT · by JerseyanExile · 1 replies
    Corriere Della Sera ^ | June 14, 2012 | Giovanni Bianconi
    “Struggle above all else, that’s what’s missing in Italy”, says one of the new millennium’s individualist anarchists. The one afraid of missing a fleeting opportunity while waiting for the right moment. “When is the right moment? When do we grasp the fucking moment? It’s like the communists... wait for the perspective of revolution! What perspective? The perspective of revolution is now! It’s right now! I can step outside and I’ve got all the targets I want!... Do you know how many targets I’ve got if I just nip out? There’s no point in waiting for something to fall into your...
  • Europe: She’s Come Undone.

    06/18/2012 5:35:32 PM PDT · by Lowell1775 · 8 replies
    Open Source Survival ^ | June 17, 2012 | Ronin Gael
    snip.... Old News and Current Events: I have written before that the fundamentals of the Euro and European Union didn’t bode well. They still don’t. Each step of these “rescues”, Iceland in 2008, Ireland in 2009, Portugal in 2011, Italy and Greece in 2011 and 2012….and now Spain ….are all just shocking the dying patient back to life for a few more moments of pain and chaos. The inevitable and permanent straight-line on the EKG is coming. It will be a collapse of the Euro and a financial crisis of a size not seen since WWII or the Great Depression....

    06/18/2012 10:46:33 AM PDT · by blam · 33 replies
    TBI ^ | 6-18-2012 | Simone Foxman
    MERKEL WON'T BUDGE, SPAIN AND ITALY GET DESTROYED Simone Foxman June 18, 2012, 11:40 AM The Spanish IBEX 35 and the Italian FTSE MIB got crushed today, after Greek elections failed to reassure markets that anything has changed for the troubled Spain and Italy. Comments from German Chancellor Angela Merkel worsened the blow. She told reporters near the end of European trading that she will not budge on the terms of the Greece aid package. In core Europe, the DAX held on to gains to end just slightly higher, but the French CAC 40 fell 1 percent. That negativity appears...
  • Italian Prosecutor: Calabrian Mafia "Is Quickly Spreading In The United States"

    06/16/2012 3:58:24 PM PDT · by AtlasStalled · 39 replies
    Friends of Ours ^ | 06/16/12 | Friends of Ours
    The 'Ndrangheta or Calabrian Mafia has emerged as the world's most powerful crime group due to its obscene profits from the cocaine trade in Europe, and it further has become entrenched in Australia, Canada and the United States with surprisingly little push back from law enforcement in those countries. Indeed, Nicola Gratteri, a top anti-Mafia prosecutor in Italy warns that "this mafia is quickly spreading in the United States, particularly in Florida and New York" as reported by Beatrice Borromeo for The Daily Beast: Gratteri's latest operations have led to the sentencing of 34 'Ndrangheta members and have uncovered a...
  • Spain, Italy vow action as borrowing costs soar - Merkel rejects 'miracle solutions', euro bonds

    06/14/2012 8:07:20 PM PDT · by InvisibleChurch · 10 replies
    Spain and Italy, under increasing fire in Europe's debt crisis, promised new measures to repair their public finances as their soaring borrowing costs raised new alarm ahead of a cliffhanger Greek election. But German Chancellor Angela Merkel rebuffed pressure from EU partners and the United States for Europe's most powerful economy to underwrite debt or guarantee bank deposits in the single currency area. Spain's 10-year bond yield hit a euro lifetime high above seven per cent on Thursday - a danger level above which Greece, Ireland and Portugal were driven to seek international rescues - despite last weekend's euro zone...
  • Italian borrowing rates skyrocket in bond sale

    06/14/2012 4:05:32 AM PDT · by EBH · 4 replies
    AP ^ | 6/14/2012 | COLLEEN BARRY
    "Italian auctions are now as nerve-wracking as Spanish ones," said sovereign debt expert Nicholas Spiro of Spiro Strategy, warning that both Spain and Italy could soon find it too expensive to raise money on financial markets if the European Central Bank does not take action to restore confidence. Italy's overall debt is an enormous ¬1.9 trillion ($2.4 trillion), requiring frequent market access to repay investors whose bonds are expiring. To lower that debt, the economy needs to become more competitive. Spain's decision over the weekend to seek a bailout for its banks has fundamentally changed the market perception of Italy...
  • MEPs agree on proposals towards (EU) 'fiscal union'

    06/13/2012 3:51:39 PM PDT · by Olog-hai · 4 replies
    EU Observer ^ | 2012.06.13 @ 18:09 | Honor Mahony
    The European Parliament on Wednesday (13 June) approved draft laws that would strongly increase Brussels' power over eurozone countries' budgets. But they tempered the previously austere proposals with measures for growth, debt redemption and democratic scrutiny. "This is the core of a fiscal union," said Austrian MEP and socialist leader Hannes Swoboda. "This is the first time that there is a structural solution [to the eurozone crisis] on the table," said Liberal leader Guy Verhofstadt. His Green counterpart Daniel Cohn-Bendit called it a "milestone" for the strength of agreement among MEPs. The pair of laws—also known as the two-pack—is among...
  • Italy denies need for bailout

    06/13/2012 4:10:06 PM PDT · by Olog-hai · 8 replies
    EU Observer ^ | 2012.06.13 @ 08:52 | Valentina Pop
    Italian Prime Minister Mario Monti has said his country does not need a bailout, even though its borrowing costs have soared amid contagion from Spain, whose recent bailout has failed to calm markets. "Italy, even in the future, will not need aid from the European Financial Stability Fund," Monti said in an interview with the German Public Radio ARD on Tuesday (12 June). He called on investors and market analysts "not to be governed by clichés or prejudices" and argued that his country has left its "undisciplined" past behind and is doing more to put its house in order than...
  • "Worried" (Mario) Monti calls for support from Italy's parties

    06/12/2012 10:48:28 PM PDT · by Olog-hai · 3 replies
    Reuters ^ | Tue Jun 12, 2012 6:37pm EDT | (Reporting by Gavin Jones; Editing by Jon Hemming)
    Italian Prime Minister Mario Monti met the leaders of the parties backing him in parliament on Tuesday and called on them to give their unified support to help Italy through current market turmoil. Monti said in a statement he was "worried by the situation of emergency" on financial markets, and had told the party chiefs that "cohesion" was needed "to overcome the critical situation and give an image of unity abroad". Italian borrowing costs have risen sharply since the weekend agreement by eurozone finance ministers to lend up to €100 billion to recapitalize Spain's banks, with speculation rife that Italy...
  • FR Exclsv: Italy's Oldest & 4th Largest Bank CUTS DEPOSITORS OFF - not a single News story.

    06/12/2012 3:04:26 AM PDT · by AAABEST · 133 replies
    Free Republic and nearly nowhere else ^ | June 12, 2012 | LITERALLY NONE
    I don't often put stories in "breaking." I post vanities even less often. Hardly anything surprises me any longer, but I find this absolutely astounding. If you follow the financial threads or the situation in Europe, you really need to read this. Actually anyone with a bank account needs to read this. I'm going to ask the mods to leave this here, unless they really feel I'm all wet here. I don't, however, believe I am. Follow me here. BNI (Bank Network Investments) is Italy's oldest and forth largest bank. In other words, it's a biggie. Anyway, the bank went...
  • Debt crisis: Barack Obama demands action as leaders ponder Spanish bank rescue

    06/08/2012 6:47:21 PM PDT · by Hojczyk · 19 replies
    UK Telegraph ^ | June 8,2012 | Louise Armitstead, and Bruno Waterfield
    US President Barack Obama has demanded that European leaders act “right now” as ministers in Brussels deliberate over whether to impose a bail-out on Spanish banks. In Madrid, Berlin and Brussels officials denied that a rescue plan for Spanish banks was ready to launch this weekend, but Mr Obama blew their cover. “The focus must be on strengthening the banks, like we did in 2008,” he said. “EU leaders are in discussions about that and they are going in the right direction.” At the White House Mr Obama said: “The sooner [leaders] act, the more decisive and concrete their action,...
  • Iran, Syria and China Oil Deal Flouts Western Sanctions

    06/08/2012 6:15:23 AM PDT · by PieterCasparzen · 3 replies
    INTERNATIONAL BUSINESS TIMES ^ | 3/30/2012 | Anissa Haddadi
    Iran, Syria and China have been accused of flouting US and EU sanctions in a three-way deal to boost the Syrian regime's bank balance with oil revenues. Iran, which has backed the Damascus government President Bashar al-Assad thoughout the year-long uprising, has provided Syria with a tanker to ship oil to a Chinese state-run importer, reports have claimed. The move, in defiance of Western sanctions, could give the Syrian regime an £80m boost, Reuters said. China has been criticised for vetoing two Western-backed resolutions at the UN which condemn the bloodshed in Syria and step up pressure against Assad. Although...
  • Damascus 'Risking Genocide'

    06/06/2012 1:40:44 PM PDT · by Eleutheria5 · 5 replies
    Arutz Sheva ^ | 6/6/12 | Gabe Kahn
    Italian foreign minister Guilo Terzi on Wednesday warned Bashar al-Assad's policies in Syria risk creating a genocide in Syria unless there is "rapid intervention." "The strategy of Damascus risks causing a genocide without rapid intervention," Mr Terzi said. Italy was among those countries who expelled the Syrian ambassador to Rome last month in a coordinated action with other Western powers after a massacre in the town of Houla. The Syrian leadership "is fighting for its survival with an ever more direct and brutal escalation, with terror against the civilian population and with the artificial fuelling of internal conflict," Mr Terzi...
  • Greek Power Regulator Calls Emergency Meeting to Avert Collapse of Power Grid and Natural Gas System

    06/03/2012 6:25:59 PM PDT · by Kartographer · 13 replies
    SHTF Plan ^ | 6/3/12 | Mac Slavo
    When the political and economic systems of entire nations collapse the consequences are devastating. Earlier this year pharmacies and hospitals in Greece were unable to provide life saving medicines due to a shortages caused by a freeze in the flow of credit from manufacturers to distributors to patients. A collapse in the country’s economy has forced many Greeks to turn to black market barter economies and has left millions financially devastated, with no hope of finding an income stream for the foreseeable future. The credit system of the entire country is in shambles. So much so that reports are emerging...
  • Greek radical left leader Tsipras: asking for Greek people’s vote to cancel the bailout

    06/01/2012 7:59:17 AM PDT · by C19fan · 13 replies
    AP ^ | June 1, 2012 | Staff
    The head of Greece’s Radical Left Coalition, whose strong gains in last month’s elections deepened concerns over his country’s future in the European single currency, vowed Friday to cancel Greece’s international bailout agreement if he wins an upcoming repeat ballot. Alexis Tsipras, whose Syriza party came second in the inconclusive May 6 polls, said there was no way to partially implement the terms of the bailout that the heavily indebted country has come to rely on to pay its way.
  • No respite for pope as more documents leaked

    06/03/2012 1:22:06 PM PDT · by NYer · 22 replies
    Reuters ^ | June 3, 2012 | Phillip Pullella
    MILAN (Reuters) - Pope Benedict got no rest on Sunday from a leaks scandal when an Italian newspaper published documents showing that his butler was not the only person in possession of confidential correspondence indicating a Vatican in disarray. Benedict, 85, ended a weekend trip to Italy's industrial and financial capital Milan with a closing mass for an international gathering in which he praised traditional Catholic family values and re-stated his opposition to gay marriage.But in its Sunday edition, the Rome newspaper La Repubblica published documents it said it had received anonymously after the arrest of the pope's butler on...
  • Spain is the new epicenter of Europe's woes

    05/31/2012 12:01:01 PM PDT · by Signalman · 4 replies
    CNNMoney ^ | 5/31/2012 | Ben Rooney
    NEW YORK (CNNMoney) -- Spain is fast becoming the biggest threat to Europe's shared currency as the cash-strapped government struggles to contain a growing banking crisis. The depth of Spain's banking crisis was exposed late last week after the government announced a €19 billion rescue of one of the nation's top lenders, Bankia. The move raised worries that Spanish banks face larger-than-expected losses on bad loans stemming from the collapse of the nation's housing bubble. But the Spanish government does not have the money to bail out the entire banking sector, which analysts say could cost upwards of €100 billion....
  • 'Beware a rerun of the Great Panic of 2008': Head of World Bank warns Europe is heading...

    06/01/2012 7:53:15 PM PDT · by TigerLikesRooster · 54 replies
    Daily Mail ^ | 06/01/12 | Hugo Duncan
    'Beware a rerun of the Great Panic of 2008': Head of World Bank warns Europe is heading for 'danger zone' as world markets suffer bleakest day of the year so far Robert Zoellick: 'Far from clear leaders ready for impending catastrophe' Raft of dismal news from around world wreaked havoc on market Manufacturing output crashed in Britain, jobless up in Europe and U.S. Fast-emerging economies such as Brazil and China running out of steam By Hugo Duncan PUBLISHED: 15:49 GMT, 1 June 2012 | UPDATED: 22:52 GMT, 1 June 2012 The head of the World Bank yesterday warned that financial...
  • Deepest Roman shipwrecks found near Greece

    05/30/2012 6:18:13 AM PDT · by C19fan · 18 replies
    UK Daily Mail ^ | May 30, 2012 | Rob Waugh
    Two Roman-era shipwrecks have been found in deep water off a western Greek island, challenging the idea that ancient shipmasters stuck to coastal routes. The merchant ships were sunk nearly a mile deep between Corfu and Italy - proving that ancient traders didn't 'hug the shore'. Greece's culture ministry said the two third-century wrecks were discovered earlier this month during a survey of an area where a Greek-Italian gas pipeline is to be sunk.
  • Obama set to arm Italy's drones in milestone move

    05/29/2012 3:11:04 PM PDT · by Jet Jaguar · 8 replies
    Reuters ^ | May 29, 2012 | By Jim Wolf
    President Barack Obama's administration appears set to notify the U.S. Congress of plans to arm a fleet of Italian MQ-9 Reaper drones, a step that may spur a wider spread of remotely piloted hunter-killer aircraft. The administration could move ahead within two weeks on the proposal to let Italy join Britain in deploying U.S. drones with weapons such as laser-guided bombs and Hellfire missiles, American officials said. Italy has a fleet of six Reapers. The sale of the technology to arm them, including bomb racks and "weaponization" kits costing up to $17 million, would help the United States redistribute the...
  • Eni makes big oil discovery in Egypt (150-250 million barrels )

    05/25/2012 8:24:30 AM PDT · by Red Badger · 1 replies
    Reuters ^ | 05-24-2012 | Svetlana Kovalyova
    Italy's oil and gas major Eni has made a big oil discovery in the Western Desert of Egypt, part of the group's strategy of refocusing exploration activities in the country by targeting deeper plays in the Western Desert region. The discovery, at the Emry Deep exploration prospect, located in the Meleiha Concession 290 kilometers south west of Alexandria, is estimated at 150-250 million barrels of oil in place and will require further appraisal drilling, Eni said in a statement on Thursday. The full field development foresees an early production phase from the current well to be followed by the drilling...
  • Italian Government Honors Mafia Victims; Warns Of Renewed Terror Campaign

    05/25/2012 7:33:30 AM PDT · by AtlasStalled · 1 replies
    Friends of Ours ^ | 05/25/12 | Friends of Ours
    Over the week Italy remembered those courageous souls who gave their lives in challenging the Mafia. Placido Rizzotto, a union leader killed sixty years ago by Cosa Nostra or the Sicilian Mafia, received a state funeral yesterday after his remains recently were discovered in a cave as reported by Alan Johnston for BBC News: "Italian President Giorgio Napolitano was in attendance to see him being buried in the place where he made his stand - in Corleone." And on Wednesday, in marking the 20th anniversary of the assassination of anti-Mafia prosecutor Giovanni Falcone, Prime Minister Mario Monti urged the country's...
  • Berlusconi party girl says masqueraded as Obama

    05/25/2012 10:29:13 AM PDT · by Free ThinkerNY · 18 replies
    Reuters ^ | May 25, 2012
    (Reuters) - One of the young women who attended Silvio Berlusconi's "bunga bunga" parties told a court on Friday that she dressed up as a burlesque version of U.S. President Barack Obama to entertain the former Italian prime minister. In testimony during a trial against the 75-year-old Berlusconi on charges of paying for sex with an underage prostitute, Marysthell Polanco said she had also dressed as prosecutor Ilda Boccassini. Boccassini, known as "Ilda the Red" because of her hair color and what Berlusconi says is her communist political sympathies, is one of the prosecutors in the ongoing trial. "I dressed...
  • Stock futures edge higher on ECB hopes

    05/25/2012 4:19:42 AM PDT · by John W ^ | May 25, 2012 | William L. Watts
    FRANKFURT (MarketWatch) — U.S. stock index futures edged higher Friday, taking a cue from Europe as investor hopes appeared to rise for further stimulus action by the European Central Bank as European officials wrestle with a potential Greek exit from the euro zone. Wall Street saw a late-session reversal Thursday to post a mostly positive close after Italian Prime Minister Mario Monti said he expected Greece to remain in the euro zone and that he believed German Chancellor Angela Merkel could be persuaded to accept the introduction of euro bonds.
  • Italy busts eBay looted artefacts ring

    05/23/2012 6:42:50 AM PDT · by SunkenCiv · 5 replies
    VancouverDesi ^ | May 18, 2012 | AFP str-glr/dt/har
    Italian police on Friday said they were investigating 70 people for trading thousands of looted archaeological artefacts including ancient coins and vases on Internet auction site eBay. The investigation began when the police found an eBay announcement in 2009 and they tracked down a father and son team of tomb raiders in a village in Calabria in southern Italy who had dug up Byzantine, Greek and Roman burials. Police said in a statement they had seized 16,344 artefacts including bronze and silver coins, rings and ceramic vases, as well as 10 metal detectors. Most of the pieces came from the...
  • Two are arrested in school bomb attack (Brindisi Italy)

    05/21/2012 5:07:50 AM PDT · by Straight Vermonter · 7 replies
    Times of Malta ^ | May 21, 2012
    Italian police have arrested two suspects over the bombing of a school that killed a 16-year-old girl and seriously injured five more teenagers, media reports said yesterday. The men were identified from security cameras at the vocational school in the southern city of Brindisi, where the bomb ripped through a group of students as they waited to begin classes early Saturday. One of the suspects is an ex-soldier with knowledge of electronics, the daily Corriere della Sera reported, citing local news website Brindisireport. Melissa Bassi died from her injuries in hospital, an only child from a working-class family who was...
  • Lone Bomber, Not Mafia, Sought for Italy School Attack

    05/21/2012 1:44:11 AM PDT · by Cindy · 8 replies
    REUTERS ^ | Sun May 20, 2012 3:31pm EDT | By James Mackenzie
    SNIPPET: "Dinapoli said police already had a facial composite picture of the suspect they believe was behind the attack which killed 16-year-old Melissa Bassi." SNIPPET: "He said investigators had acquired "significant" video evidence that suggested one man had set off the device which exploded as pupils were getting off a bus for the start of lessons on Saturday morning. The footage showed a man of about 50-55 years of age activating a remote control to detonate a rudimentary bomb made of three gas canisters hidden in a container outside the school gates, he said."
  • Italy Deploys 20,000 Law Enforcement Officers to Protect Individuals and Sensitive Sites

    05/20/2012 6:41:58 AM PDT · by Kaslin · 7 replies ^ | May 20, 2012 | Mike Shedlock
    Italy Deploys 20,000 Law Enforcement Officers to Protect Individuals and Sensitive Sites The Atlanta Journal Constitution reports Italy deploys 20,000 to protect sensitive targetsItaly increased security Thursday at 14,000 sites, and assigned bodyguards to protect 550 individuals after a nuclear energy company official was shot and letter bombs directed to the tax collection agency. Under the enhanced measures, Interior Minister Anna Maria Cancellieri deployed 20,000 law enforcement officers to protect individuals and sensitive sites. In addition, 4,200 military personnel already assigned throughout Italy will be redeployed according to new priorities. Authorities will also increase intelligence to "neutralize" the risk of...
  • Crisis of Confidence: Fears of Bank Runs Mount in Southern Europe

    05/19/2012 12:57:24 PM PDT · by Olog-hai · 11 replies
    Der Spiegel ^ | 05/18/2012 | Stefan Kaiser
    Reports began trickling in earlier this week that savers in Greece were withdrawing hundreds of millions of euros from their bank accounts—the German news agency DPA reported that almost €900 million was withdrawn just on Monday alone. Since then Europe has been seized by the fear of a worst-case scenario in Greek's banking system: a so-called bank run, as customers who have lost confidence in their banks rush to take out their savings. Such a run would be the final stage in the loss of confidence in the banks. For months now, wealthy individuals in crisis-hit countries have already been...
  • VIDEO: Mafia Horror In Southern Italy: Bomb At School Named For Anti-Mafia Hero Kills Two Students

    05/19/2012 4:35:50 AM PDT · by AtlasStalled · 5 replies
    Friends of Ours ^ | 05/19/12 | Friends of Ours
    A bomb at a vocational school in the port city of Brindisi on the Adriatic coast in Southern Italy has killed two students and injured another five as classes were preparing to start this morning as reported by David Batty for The Guardian. The school was named in honor of the wife of anti-Mafia prosecutor Giovanni Falcone after both were slain almost exactly twenty years ago as reported by Nick Squires for The Telegraph: "the prosecutor, his wife and their three bodyguards were killed on May 23 1992, when the Sicilian Mafia planted half a tonne of explosives on the...
  • Southern Europe fears summer of violence

    05/18/2012 10:58:33 AM PDT · by C19fan · 10 replies
    UK Guardian ^ | May 18, 2012 | Andrea Vogt, Helena Smith and Giles Tremlett
    Europe's debt-mired southern rim is becoming increasingly concerned by the prospect of anarchy on the streets this summer, as seething anti-austerity threatens to boil over into something more sinister. Protests, strikes and sit-ins have long since become the norm for Greece, Italy and Spain. But some authorities are warning that rage is on the verge of tipping over into serious violence, and concerns are mounting over the knock-on effect on tourism, a vital source of income for southern Europe.
  • Italy Introduces Ferrari on Rails

    05/17/2012 11:23:24 PM PDT · by aquila48 · 8 replies
    Spiegel online international ^ | 04/24/2012 | Hans-Jürgen Schlamp
    Italy's burgundy red Ferrari on rails is finally going into service. Starting on April 28, the "Italo" will travel at speeds of up to 300 kilometers per hour between Milan, Rome and Naples. The new high-speed train is more environmentally friendly and also cheaper than its competitors -- on both the rails and roads.
  • US Leads Major War Drill in Jordan – Israel Not Invited

    05/15/2012 7:08:00 PM PDT · by 444Flyer · 23 replies
    Arutz Sheva ^ | 5-15-12 | Gabe Kahn
    The United States is leading what it described as the "largest military exercises in the Middle East in 10 years" in Jordan on Tuesday. Eager Lion 2012 “is the largest exercise held in the region in the past ten years,” Major General Ken Tovo, head of the US Special Operations Forces, told reporters in Amman. “Yesterday we began to apply the skills that we have developed over the last weeks in an irregular warfare scenario … They will last for approximately the coming two weeks,” he added. “The message that I want to send through this exercise is that we...
  • (EU-appointed PM Mario) Monti warns of tears in Italy's social fabric

    05/13/2012 11:24:01 PM PDT · by Olog-hai
    Reuters ^ | Sun May 13, 2012 2:56pm EDT | (Reporting By Gavin Jones; Editing by Maria Golovnina)
    Italy's social fabric is being torn by recession and tensions are growing among its citizens, Prime Minister Mario Monti said on Sunday. Speaking to a group of students in the central Italian town of Arezzo, Monti urged Italians to stick together and "not give up" in the face of a shrinking economy and rising unemployment. Monti's technocrat government has imposed painful austerity measures since taking office last year, and in recent days ministers have responded to calls from politicians and the media to show more compassion for the plight of ordinary Italians. "The country is now marked by profound social...
  • Russia Testing Italian Tank

    05/13/2012 7:33:40 PM PDT · by sukhoi-30mki · 15 replies
    Ria Novosti ^ | 12/05/2012
    Russia Testing Italian Tank Italy's Centauro wheeled tank © Photo Jeffery Russell Russia is testing Italy's Centauro wheeled tank and considering building it under license, a representative of the Oto-Melara company which makes the tank said on Saturday. "The first two machines with 105-mm and 125-mm guns are on trial at a Moscow Region proving ground," he said. Two more Centauros with 120-mm and 30-mm guns will also join the trials in another six weeks. "The tanks will take part in laboratory, driving and firing trials," the Oto-Melara representative said. When the trials are complete at the end of this...