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admin /20 May, 2010
Euro in danger: Germans trigger panic over future of single currency
David Charter, Berlin
(MICHAEL KAPPELER/AFP/Getty Images)
Shocked European ministers are preparing for emergency talks to shore up the euro after markets fell in reaction to panic measures in Germany.
Angela Merkel stunned EU capitals by warning that the euro was in danger and triggered fears of a fresh financial meltdown by announcing a ban on risky trading practices by speculators. The German Chancellor’s actions opened up new cracks in the single currency, drawing sharp criticism from France and prompting Brussels to issue an appeal for unity.
Shares in London plunged by nearly 3 per cent, with similar falls in Paris, Berlin and Madrid. The euro plummeted to a new low against the dollar before making a slight recovery.
admin /20 May, 2010
Heavy oil hits Louisiana shore, enters sea current Posted 12 minutes ago The first heavy oil from a giant Gulf of Mexico spill has sloshed ashore in fragile Louisiana marshlands and part of the mess has entered a powerful current that could carry it to Florida and beyond. The developments underscored the gravity of the Continue Reading →
admin /19 May, 2010
Energy efficiency efforts will hurt our profits, says big polluter TOM ARUP ENVIRONMENT CORRESPONDENT May 20, 2010 Still smoking…International Power’s Hazelwood plant. A confidential submission released accidentally by the federal government shows the owners of the the heavy-polluting Hazelwood brown coal power plant will resist energy efficiency efforts because they could hit their bottom line. Continue Reading →
admin /19 May, 2010
Labor lets loose its dogs of war
- Dennis Shanahan, Political editor
- From: The Australian
- May 19, 2010 12:00AM
TONY Abbott has made another political blunder, but the knots he tied himself in over honesty, lying and the gospel truth aren’t anywhere near as troublesome as his initial decision to suddenly announce a parental leave scheme funded with a new tax.
The verbal gymnastics and the painful facial grimaces of the Leader of the Opposition on ABC 7.30 Report – as he explained introducing a new tax when he had said he wouldn’t – let slip the political dogs of war.
Labor cabinet ministers who hadn’t fronted a press conference for ages, some of whom have been responsible for monumental blunders, broken promises and backdowns, jostled like lions at feeding time to flay Abbott alive.
Abbott could no longer be trusted, he was lying, he wasn’t prime ministerial material, he couldn’t be believed or trusted.
Julia Gillard, Wayne Swan, Lindsay Tanner, Penny Wong, Peter Garrett, Chris Bowen and Craig Emerson all jumped in to provide comments to back ALP advertising, all targeting Abbott and linking him with the Howard government’s discarded Work Choices.
admin /19 May, 2010
Greenies and business unite on climate action
BUSINESSES are planning an unlikely alliance with the Australian Conservation Foundation to prod the nation’s leaders into fundamental action on climate change.
The federal government’s decision to shelve its carbon emissions trading scheme has jeopardised investment worth hundreds of millions of dollars, driving some companies to plan a climate circuit-breaker.
One plan under review is a revival of the Australian Business Roundtable on Climate Change, which emerged four years ago when the Howard government was baulking at action.
admin /18 May, 2010
Feds push solar solution to coal addiction
Infinia’s PowerDishPhoto: PowerPlay SolarThe Obama administration last week gave a $62 million boost to efforts to make solar power truly competitive with coal.
“The projects announced today will seek to improve component and system designs to extend operation [of concentrated solar power projects] to an average of about 18 hours per day, a level of production that would make it possible for these plants to displace traditional coal-burning power plants,” the Department of Energy said in a statement announcing cash grants that are being doled out over the next five years.
