The more than 1,000 people on board the Costa Allegra spent a second night on the ship’s decks in sweltering temperatures after a fire on Monday took out the air-conditioning system along with the entire power supply and the engines. A French tuna fishing boat, the Trevignon, responded to the Costa Allegra’s mayday call and
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Following its approval by the lower house National Assembly on February 21, the Senate voted to approve the two treaties that will lead to the replacement of the temporary European Financial Stability Facility with the ESM. The upper house approved the treaties in a vote of 169 to 35, with lawmakers from President Nicolas Sarkozy’s
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The New York Federal Reserve said it had sold off the final remnants of assets it scooped up from AIG in 2008, when many of the firms mortgage bonds were considered toxic. Then, the Fed created a special purpose vehicle, Maiden Lane II, to hold the assets in exchange for a $19.5 billion loan, as
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Acting on the attorney general’s advice, “the government has decided to hold a referendum on this issue in which the people of Ireland will be asked to give their authorisation for the ratification of this treaty”, Kenny said. The referendum will be watched closely by the country’s European Union partners as Ireland has previously sent
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Lawmakers were to decide after midnight (2200 GMT) on further spending cuts worth 3.2 billion euros ($4.3 billion), which the two-party coalition government has the votes to approve. The parliamentary procedure comes after ratings agency Standard & Poor’s (S&P) declared Greece in “selective default” owing to a proposed debt swap with private banks, a move
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The rise beat average market expectations of around 1.5 percent growth and followed a revised month-on-month rise of 3.8 percent in December. Industrial production is showing “signs of an upward movement,” the economy, trade and industry ministry said in a monthly report. Main contributors to the January growth were transport, information and communications and the
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Shares in Carnival dropped 1.44 percent in early trading in New York on Tuesday, as the stricken Costa Allegra was being towed to the Seychelles through pirate-infested waters in the Indian Ocean after a fire on board. Italian newspapers even reported a rumour that the Costa Crociere brand itself — originally founded in the 19th
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A fire broke out in the engine room of the Costa Allegra on Monday, stalling the vessel in the dangerous waters of the Indian Ocean, where Somali pirates have in the past attacked and captured foreign ships. Emergency crews onboard extinguished the fire after a few hours and no one was injured, but the stranded
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“Germany is not ready,” the source told AFP in reference to the latest developments in a global tug-of-war over eurozone emergency bailout funding. “Chancellor Angela Merkel ultimately agrees that the funds, old and new, should be combined,” the source said, before adding: “But the timing isn’t yet right.” Eurozone leaders were to meet Friday on
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“The Danish warship Absalon stopped a pirate mother ship on February 27, 2012. During the operation, two hostages were killed,” the Navy said in a statement. The nationalities of the hostages were not immediately known, nor the circumstances leading to the two deaths. “Two hostages were found seriously injured, but despite swift assistance from Absalon’s
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