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The Hellenic Radio (ERA): News in English, 08-12-11

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article

From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

  • [01] Students Stage New Street Protests
  • [02] Oil Prices Slightly Up
  • [03] 27-Nation Block Seeks Double Deal

  • [01] Students Stage New Street Protests

    School children announced they would block roads throughout Attica. In the meantime, Interior Minister Prokopis Alavanos is to answer interpellations on the killing of the 15-year-old boy filed by opposition lawmakers Alekos Alavanos and Spyros Halvatzis. Things have calmed down in the roads near the Polytechnic School in central Athens, while a teen who was injured during the clashes taken place overnight has been hospitalized. Rioters hurled petrol bombs, while police fired tear gases. In Larissa, central Greece, the 11 high school students seized late on Monday, were let go after their testimony.

    Source: ANA-MPA

    News item: 16532

    [02] Oil Prices Slightly Up

    Oil prices slightly hiked in Asian trade. Light sweet crude for January delivery rose by 26 cents to $43.78 per barrel on top of a 1.45-dollar gain Wednesday at the New York Mercantile Exchange. Brent North Sea crude for January delivery gained 10 cents, standing at $42.50 per barrel.

    The above slight hike was partly due to the expected cut in daily oil output on 17 December.Crude oil rose above 3 percent in the New York market, since Saudi Arabia announce an output cut in January, given the dwindling demand due to the global financial crisis. The above move could bring output in Saudi Arabia down below the target of 8.47 million of barrels per day.

    Russia is also considering trimming oil output to boost prices.

    Another reason that sent oil price slightly up was the US bailout of the automotive sector. The US House adopted Wednesday night a plan meaning to finance and restructure the automotive industry, pumping about $15bn mostly into General Motors and Chrysler. However, the plan should also be given thumbs up by the Senate, where several Republican Senators strongly oppose the financing of loss-making companies.

    News item: 16527

    [03] 27-Nation Block Seeks Double Deal

    Talks within the European Council, which is holding a two-day summit in Brussels, are bound to be marathon. The 27-nation bloc's key objective is to broker a "double deal": to address the financial crisis and have gas emissions within the EU trimmed. The EU summit will also focus on a drive to rescue the Lisbon Treaty, hoping that Ireland would pledge to hold a new referendum within 2009.

    With regard to the financial crisis, the summit's goal is to step up targeted measures capable of reviving Europe's economy and restoring trust in markets. A European Commission brokered bailout amounting to 200bn will also be brought up.

    As the recent meeting of the EU Finance Ministers has suggested, the EU nations have agreed on the qualitative figures of the Commission's proposal, since it takes into consideration each nation's peculiarities.

    However, France's intention to set quantified objectives has caused disagreements among the EU capitals. Specifically, some member states, including Germany and the Netherlands, have appeared skeptic, stressing the need for greater flexibility and objecting any binding quantified objectives.

    News item: 16531


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