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Wednesday, September 26, 2012 8:15 PM PDT

Today's Reuters News Headlines - Yahoo! News: Losing ground in Ohio, Romney says his "heart aches" for jobless Anti-cuts protests erupt on streets of Athens and Madrid U.S.-led "war on drugs" questioned at U.N. New home sales dip, but prices scale five-year high Ahmadinejad denounces "uncivilized Zionists," urges new order Noda vows no compromise as Japan, China dig in on islands row Court to hear appeal over federal gay marriage law Islamist wins delay in UK extradition to United States Rajoy inches toward aid as protests seethe Exclusive: Vitol trades Iranian fuel oil, skirting sanctions In Ohio, Romney says his "heart aches" for jobless Insight: U.S. probe of HSBC tangled up in bureaucracy, infighting Death of rebel who caught Gaddafi stokes Libya tensions China, Japan stand their ground in islands row, but keep talking Syrian rebels bomb security building in Damascus Spain prepares more austerity, protesters battle police Clashes erupt as thousands of Greeks protest austerity Exclusive: IMF, EU clash over Greece's bailout prospects Mortgage applications rose as rates hit new lows: MBA Facing tough road in Ohio, Romney and Ryan embark on bus tour Obama at U.N. calls for end to intolerance, warns Iran Japan opposition gives ex-PM Abe second chance amid China feud Exclusive: Clinton presses Rwanda, DRC leaders on border crisis Syrian rebels bomb security building in Damascus Lehman to pay creditors another $10.5 billion EU rejects U.S. claim to have weaned Boeing off subsidies Egypt's Mursi calls for cooperation between cultures Home prices rise for sixth month, a sign of recovery Lehman to pay creditors another $10.5 billion Judge asks input on possible Pennsylvania voter ID injunction Five-year-olds put to the test as kindergarten exams gain steam Obama takes world stage to fend off Romney attacks Libyan government puts army in charge of Benghazi militias Obama at U.N. calls for end to intolerance, warns Iran Spain prepares more austerity, protesters battle police Weeks before election, Pennsylvania voter ID law back in court Dispute escalates between China and Japan Clinton reassures Egypt's Mursi on U.S. assistance In New York, defiant Ahmadinejad says Israel will be "eliminated" Europe must take "deep breath" and enact reforms: Merkel Losing ground in Ohio, Romney says his "heart aches" for jobless Wed,26 Sep 2012 05:59 PM PDT Reuters - BEDFORD HEIGHTS/BOWLING GREEN, Ohio (Reuters) - The race for president focused squarely on the battle for working-class votes on Wednesday, as Republican Mitt Romney scrambled to make up ground on Democratic President Barack Obama in the crucial battleground state of Ohio. On a day when the rivals held dueling events across the state, Romney mixed empathy for the unemployed - at one point, he said his "heart aches" for the jobless - with attacks on Obama's trade policy toward China. Foreign trade is a sensitive subject in a state where thousands of manufacturing jobs have gone overseas. ... Full Story Top Anti-cuts protests erupt on streets of Athens and Madrid Wed,26 Sep 2012 02:32 PM PDT Reuters - ATHENS/MADRID (Reuters) - Demonstrators have clashed with police on the streets of Athens and Madrid in an upsurge of popular anger at new austerity measures being imposed on two of the euro zone's most vulnerable economies. In some of the most violent confrontations on Wednesday, Greek police fired tear gas at hooded rioters hurling petrol bombs as thousands joined the country's biggest protest in more than a year. ... Full Story Top U.S.-led "war on drugs" questioned at U.N. Wed,26 Sep 2012 03:02 PM PDT Reuters - UNITED NATIONS (Reuters) - The presidents of Mexico, Colombia and Guatemala all called for a vigorous global debate of anti-narcotics laws at the United Nations on Wednesday, raising new questions about the wisdom of the four-decade-old, U.S.-led "war on drugs." Although none of the leaders explicitly called for narcotics to be legalized, they suggested at the U.N. General Assembly that they would welcome wholesale changes to policies that have shown scant evidence of limiting drug flows while contributing to massive violence throughout Latin America. ... Full Story Top New home sales dip, but prices scale five-year high Wed,26 Sep 2012 11:54 AM PDT Reuters - WASHINGTON (Reuters) - New home sales held near two-year highs in August and prices vaulted to their highest level in more than five years, adding to signs of a broadening housing market recovery. The Commerce Department said on Wednesday sales slipped 0.3 percent to a seasonally adjusted 373,000-unit annual rate, but the decrease was from an upwardly revised 374,000-unit July pace that was the fastest since April 2010. From a year ago, sales were up 27.7 percent last month. At the same time, the median price of a new home increased a record 11. ... Full Story Top Ahmadinejad denounces "uncivilized Zionists," urges new order Wed,26 Sep 2012 01:43 PM PDT Reuters - UNITED NATIONS (Reuters) - Iran's president said on Wednesday his country was under constant threat of military action from "uncivilized Zionists" and called for a new world order not dominated by Western powers in the service of "the devil." In his eighth address to the U.N. General Assembly's annual gathering of world leaders, Mahmoud Ahmadinejad painted a gloomy picture of a world driven by greed rather than moral values. ... Full Story Top Noda vows no compromise as Japan, China dig in on islands row Wed,26 Sep 2012 03:24 PM PDT Reuters - NEW YORK/BEIJING (Reuters) - Japan will not compromise on the islands at the heart of a dispute with China as Tokyo already has sovereignty over them, Prime Minister Yoshihiko Noda said on Wednesday after China's foreign minister angrily declared the islets were "sacred territory." "As for the Senkakus, they are an inherent part of our territory in light of history and also under international law," Noda said of the rocky islets China claims as the Diaoyu Islands in a bitter spat between Asia's two biggest economies. "There are no territorial issues as such. ... Full Story Top Court to hear appeal over federal gay marriage law Wed,26 Sep 2012 02:46 PM PDT Reuters - NEW YORK (Reuters) - The next battle over a law that defines marriage as a union between a man and a woman will be waged in a federal appeals court in New York on Thursday. The 2nd U.S. Circuit Court of Appeals will hear arguments in the case of Edith Windsor, an 83-year-old woman who says the Defense of Marriage Act discriminates against gay couples in violation of the U.S. Constitution. Windsor's lawsuit is one of numerous challenges to the Defense of Marriage Act winding their way through U.S. courts. ... Full Story Top Islamist wins delay in UK extradition to United States Wed,26 Sep 2012 11:58 AM PDT Reuters - LONDON (Reuters) - Radical Islamist cleric Abu Hamza al-Masri has won a delay in his extradition from Britain to the United States, days after he lost an appeal to the European Court of Human Rights. A statement from the judiciary said on Wednesday a judge had granted an injunction after Abu Hamza and one other suspect lodged fresh appeals. It said these would be heard in open court on Tuesday. The judge's ruling guarantees further attention to a case that has gripped the British media and even dragged in Queen Elizabeth. ... Full Story Top Rajoy inches toward aid as protests seethe Wed,26 Sep 2012 09:53 AM PDT Reuters - MADRID (Reuters) - Violent protests in Madrid and growing talk of secession in Catalonia are piling pressure on Spanish Prime Minister Mariano Rajoy as he moves closer to asking Europe for rescue money. In public, Rajoy has been resisting calls from bankers at home and the leaders of France and Italy to move quickly to request assistance, but behind the scenes he is putting together the pieces to meet the stringent conditions for aid. ... Full Story Top Exclusive: Vitol trades Iranian fuel oil, skirting sanctions Wed,26 Sep 2012 08:46 AM PDT Reuters - SINGAPORE/BEIJING, Sept 26 - Vitol, the world's largest oil trader, is buying and selling Iranian fuel oil, undermining Western efforts to choke the flow of petrodollars to Tehran and put pressure on Iran's suspected nuclear weapons program. Vitol last month bought 2 million barrels of fuel oil, used for power generation, from Iran and offered it to Chinese traders, Reuters established in interviews with 10 oil trading, industry and shipping sources in Southeast Asia, China and the Middle East. ... Full Story Top In Ohio, Romney says his "heart aches" for jobless Wed,26 Sep 2012 03:53 PM PDT Reuters - WESTERVILLE, Ohio (Reuters) - Republican presidential candidate Mitt Romney expressed empathy for unemployed Americans on Wednesday in what appeared to be an effort to repair the damage from comments he made in a leaked videotape that has sent his poll numbers on a downward slide. "I've been across the country. My heart aches for the people I've seen," Romney told an enthusiastic crowd in Westerville on the second day of a bus tour across a state considered a must-win for him in the November 6 election. ... Full Story Top Insight: U.S. probe of HSBC tangled up in bureaucracy, infighting Wed,26 Sep 2012 06:42 AM PDT Reuters - (Reuters) - In the second half of 2010, a senior federal prosecutor in West Virginia drafted an impassioned plea to his bosses in Washington to end infighting as multiple government agencies pursued a high-stakes investigation of HSBC Holdings Plc. William Ihlenfeld II had been fighting a losing battle against fellow prosecutors in Washington and Brooklyn, who were jointly conducting a parallel probe into the British bank's controls over illicit transactions. Ihlenfeld, the U.S. ... Full Story Top Death of rebel who caught Gaddafi stokes Libya tensions Wed,26 Sep 2012 05:48 AM PDT Reuters - MISRATA, Libya (Reuters) - One of the Libyan rebels who helped capture Muammar Gaddafi in a drain pipe was buried early on Wednesday after his relatives said he had been shot and tortured in a rival town. The death of Omran Shaban on Monday again highlighted the struggle of Libya's new leaders to rein in armed groups and could further stoke tensions between the towns of Misrata and Bani Walid, which backed opposing sides in the 2011 conflict. Shaban shot to fame when he was seen in pictures grabbing Gaddafi on October 20. before the former Libyan leader was killed in his home town of Sirte. ... Full Story Top China, Japan stand their ground in islands row, but keep talking Wed,26 Sep 2012 05:19 AM PDT Reuters - BEIJING/TOKYO (Reuters) - China claimed islands at the core of a row with Japan as its "sacred territory" in talks between the two countries' foreign ministers, Chinese state media said on Wednesday, as neither side showed any sign of backing down in a long-festering feud. Japanese Foreign Minister Koichiro Gemba urged China to exercise restraint over the dispute during what he called a tense hour-long meeting on the sidelines of the U.N. General Assembly in New York, Japan's Kyodo news agency reported. ... Full Story Top Syrian rebels bomb security building in Damascus Wed,26 Sep 2012 01:02 AM PDT Reuters - BEIRUT (Reuters) - Syrian insurgents detonated bombs at a building occupied by pro-government militias in Damascus on Tuesday and France called for U.N. protection of rebel-held areas to help end Syria's bloodshed and rights abuses. Activists say that more than 27,000 people have been killed in the 18-month-old uprising against President Bashar al-Assad but jostling for regional advantage by world powers has thwarted effective U.N. Security Council action to defuse the conflict. ... Full Story Top Spain prepares more austerity, protesters battle police Tue,25 Sep 2012 05:38 PM PDT Reuters - MADRID (Reuters) - Protesters clashed with police in Spain's capital on Tuesday as the government prepared a new round of unpopular austerity measures for the 2013 budget to be announced on Thursday. Thousands gathered in Neptune plaza, a few meters from El Prado museum in central Madrid, where they formed a human chain around parliament, surrounded by barricades, police trucks and more than 1,500 police in riot gear. Police fired rubber bullets and beat protesters with truncheons, first as protesters were trying to tear down barriers and later to clear the square. ... Full Story Top Clashes erupt as thousands of Greeks protest austerity Wed,26 Sep 2012 07:07 AM PDT Reuters - ATHENS (Reuters) - Greek police clashed with hooded rioters hurling petrol bombs as tens of thousands took to the streets of Athens on Wednesday in Greece's biggest anti-austerity protest in more than a year. Violence erupted after nearly 70,000 people marched to parliament chanting "We won't submit to the troika (of lenders)" and "EU, IMF Out!" on the day of a general strike against a new round of cuts demanded by foreign lenders. As the rally ended, dozens of black-clad youths threw stones, petrol bombs and bottles at riot police, who responded with several rounds of teargas. ... Full Story Top Exclusive: IMF, EU clash over Greece's bailout prospects Wed,26 Sep 2012 06:24 AM PDT Reuters - ATHENS/WASHINGTON (Reuters) - Greece's international lenders are at loggerheads over how to solve Athens' debt crisis, threatening more trouble for the euro as the IMF demands European governments write off some of the Greek debt they hold. Officials from Greece and the "troika" of European Union, European Central Bank and International Monetary Fund have told Reuters that tensions among them have increased of late as the Washington-based Fund has played tough. It has been pushing to restructure debts Athens owes to public-sector foreign creditors. ... Full Story Top Mortgage applications rose as rates hit new lows: MBA Wed,26 Sep 2012 04:53 AM PDT Reuters - NEW YORK (Reuters) - Applications for U.S. home mortgages rose last week as interest rates dropped to record lows in the wake of the Federal Reserve's latest stimulus efforts, data from an industry group showed on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 2.8 percent in the week ended Sept 21. The MBA's seasonally adjusted index of refinancing applications climbed 3. ... Full Story Top Facing tough road in Ohio, Romney and Ryan embark on bus tour Wed,26 Sep 2012 10:15 AM PDT Reuters - DAYTON, Ohio (Reuters) - Facing a tough path to victory if they cannot win Ohio, Republicans Mitt Romney and Paul Ryan launched a two-day bus tour on Tuesday to try to boost their fortunes in a state that polls show could be slipping away from them. The Republican nominees for president and vice president appeared together for the first time in more than three weeks, part of what aides vow will be a more aggressive phase of campaigning after Romney spent much of the past two weeks raising money and holding few public rallies. ... Full Story Top Obama at U.N. calls for end to intolerance, warns Iran Tue,25 Sep 2012 06:27 PM PDT Reuters - UNITED NATIONS (Reuters) - President Barack Obama urged world leaders on Tuesday to put an end to the intolerance and violence that led to the recent killing of the U.S. ambassador in Libya and warned Iran he would do what it takes to prevent Tehran from getting nuclear arms. In a 30-minute address to the 193-nation U.N. General Assembly, Obama called anew for the ouster of Syrian President Bashar al-Assad following an 18-month civil war without saying how to make it happen. He also offered no fresh ideas on solving the Israeli-Palestinian conflict. ... Full Story Top Japan opposition gives ex-PM Abe second chance amid China feud Wed,26 Sep 2012 02:58 AM PDT Reuters - TOKYO (Reuters) - Japan's main opposition party picked former prime minister and security hawk Shinzo Abe as its new leader, giving him another shot at the premiership and possibly alarming Beijing and Seoul, both locked in territorial disputes with Tokyo. Opinion polls suggest that the conservative Liberal Democratic Party (LDP), ousted in 2009 after more half a century of almost non-stop rule, will come first in a lower house election expected within months. ... Full Story Top Exclusive: Clinton presses Rwanda, DRC leaders on border crisis Tue,25 Sep 2012 07:44 PM PDT Reuters - NEW YORK (Reuters) - Secretary of State Hillary Clinton pressed the presidents of Rwanda and the Democratic Republic of Congo to resolve a conflict over rebels in eastern Congo whose military advances have stoked tensions in one of Africa's most volatile regions. Clinton sat down with Rwandan President Paul Kagame and Congolese President Joseph Kabila in New York on Monday, delivering a firm message to both that steps must be taken to resolve the crisis, a senior U.S. official said on Tuesday. ... Full Story Top Syrian rebels bomb security building in Damascus Tue,25 Sep 2012 03:10 PM PDT Reuters - BEIRUT (Reuters) - Syrian insurgents detonated bombs at a building occupied by pro-government militias in Damascus on Tuesday and France called for U.N. protection of rebel-held areas to help end Syria's bloodshed and rights abuses. Activists say that more than 27,000 people have been killed in the 18-month-old uprising against President Bashar al-Assad but jostling for regional advantage by world powers has thwarted effective U.N. Security Council action to defuse the conflict. ... Full Story Top Lehman to pay creditors another $10.5 billion Tue,25 Sep 2012 07:48 PM PDT Reuters - NEW YORK (Reuters) - Lehman Brothers Holdings Inc on Tuesday said it will pay about $10.5 billion to creditors starting early next month, the second leg of a plan to eventually pay out more than $65 billion. Lehman will distribute the money to affiliates and subsidiaries, as well as to third-party creditors, according to a filing in Manhattan bankruptcy court. Creditors have already received about $22.5 billion under the first leg of the payout plan, unveiled in April. The additional $10.5 billion will bring total payback to around $33 billion. ... Full Story Top EU rejects U.S. claim to have weaned Boeing off subsidies Tue,25 Sep 2012 07:19 PM PDT Reuters - GENEVA (Reuters) - U.S. aircraft giant Boeing is still getting U.S. subsidies despite Washington's claim to have stopped the handouts, the European Union said on Tuesday in the latest round of the world's biggest trade dispute. The EU's claim came one day after the U.S. Trade Representative's office said it had complied with a ruling by a World Trade Organisation dispute panel that found Boeing had benefited from illegal payments. The United States had until September 23 to comply. "We had expected that the U.S. ... Full Story Top Egypt's Mursi calls for cooperation between cultures Tue,25 Sep 2012 07:45 PM PDT Reuters - NEW YORK (Reuters) - Egypt's new Islamist president Mohamed Mursi delivered a call on Tuesday for "genuine cooperation" between cultures, but in the wake of violent assaults on U.S. diplomatic missions in the Muslim world he also cautioned that a joke in one culture may not be funny in another. Speaking at a philanthropic meeting convened in New York by former U.S. President Bill Clinton, Mursi signaled an embrace of multiculturalism as an alternative to a single culture seeking dominance. "The world cannot become one culture or one civilization. ... Full Story Top Home prices rise for sixth month, a sign of recovery Tue,25 Sep 2012 12:08 PM PDT Reuters - NEW YORK (Reuters) - U.S. home prices rose for a sixth straight month in July in the latest sign of a sustainable housing market recovery, while a jump in consumer confidence this month offered a harbinger that Americans are ready to loosen their spending. Six years after its collapse, economists believe the housing market has turned a corner. Two separate reports on Tuesday showed that home prices rose in July, though the gains were not as strong as the previous month. ... Full Story Top Lehman to pay creditors another $10.5 billion Tue,25 Sep 2012 09:57 AM PDT Reuters - NEW YORK (Reuters) - Lehman Brothers Holdings Inc on Tuesday said it will pay about $10.5 billion to creditors starting early next month, the second leg of a plan to eventually pay out more than $65 billion. Lehman will distribute the money to affiliates and subsidiaries, as well as to third-party creditors, according to a filing in Manhattan bankruptcy court. Creditors have already received about $22.5 billion under the first leg of the payout plan, unveiled in April. The additional $10.5 billion will bring total payback to around $33 billion. ... Full Story Top Judge asks input on possible Pennsylvania voter ID injunction Tue,25 Sep 2012 05:43 PM PDT Reuters - HARRISBURG, Pennsylvania (Reuters) - A Pennsylvania judge on Tuesday signaled he may block at least part of the state's controversial voter identification law as he weighs a closely watched case that could influence Election Day turnout in the battleground state. At the conclusion of a full day of hearings on the matter, Commonwealth Court Judge Robert Simpson asked attorneys for the state and for the civil rights and voting rights groups challenging the law what each side would include in any injunction he might issue. ... Full Story Top Five-year-olds put to the test as kindergarten exams gain steam Tue,25 Sep 2012 03:24 AM PDT Reuters - (Reuters) - With school in full swing across the United States, the littlest students are getting used to the blocks table and the dress-up corner - and that staple of American public education, the standardized test. A national push to make public schools more rigorous and hold teachers more accountable has led to a vast expansion of testing in kindergarten. And more exams are on the way, including a test meant to determine whether 5-year-olds are on track to succeed in college and career. Paul Weeks, a vice president at test developer ACT Inc. ... Full Story Top Obama takes world stage to fend off Romney attacks Tue,25 Sep 2012 04:30 PM PDT Reuters - UNITED NATIONS (Reuters) - Taking a detour from the campaign trail to the world stage, President Barack Obama sought on Tuesday to counter attacks on his foreign policy record from Republican rival Mitt Romney on everything from the Iranian nuclear standoff to U.S.-Israeli relations to the Arab Spring. At the podium of the cavernous U.N. General Assembly hall six weeks before the U.S. election, Obama addressed both American voters and world leaders, as he defended his approach to global challenges that have started piling up in the final stretch of a close presidential race. ... Full Story Top Libyan government puts army in charge of Benghazi militias Mon,24 Sep 2012 06:15 PM PDT Reuters - BENGHAZI, Libya (Reuters) - Libya's government, seeking to assert its authority over private militias following the killing of U.S. diplomats in Benghazi, placed two powerful freelance units in the city under the command of full-time army officers on Monday. Commanders of two units which have, with official sanction, been providing security since the overthrow of Muammar Gaddafi were ordered removed and the men of the February 17 Brigade and Rafallah al-Sahati militia put under army orders. A third unit, Libya's Shield, would also change leadership, an official said. ... Full Story Top Obama at U.N. calls for end to intolerance, warns Iran Tue,25 Sep 2012 04:08 PM PDT Reuters - UNITED NATIONS (Reuters) - President Barack Obama urged world leaders on Tuesday to put an end to the intolerance and violence that led to the recent killing of the U.S. ambassador in Libya and warned Iran he would do what it takes to prevent Tehran from getting nuclear arms. In a 30-minute address to the 193-nation U.N. General Assembly, Obama called anew for the ouster of Syrian President Bashar al-Assad following an 18-month civil war without saying how to make it happen. He also offered no fresh ideas on solving the Israeli-Palestinian conflict. ... Full Story Top Spain prepares more austerity, protesters battle police Tue,25 Sep 2012 03:07 PM PDT Reuters - MADRID (Reuters) - Protesters clashed with police in Spain's capital on Tuesday as the government prepared a new round of unpopular austerity measures for the 2013 budget to be announced on Thursday. Thousands gathered in Neptune plaza, a few meters from El Prado museum in central Madrid, where they formed a human chain around parliament, surrounded by barricades, police trucks and more than 1,500 police in riot gear. Police fired rubber bullets and beat protesters with truncheons, first as protesters were trying to tear down barriers and later to clear the square. ... Full Story Top Weeks before election, Pennsylvania voter ID law back in court Tue,25 Sep 2012 11:47 AM PDT Reuters - HARRISBURG, Pennsylvania (Reuters) - A judge who will decide whether Pennsylvania's new voter-identification law should be blocked heard testimony on Tuesday from one witness who said fears that the measure placed an unfair burden on residents were overblown. The witness, Kurt Myers, a deputy secretary for the Pennsylvania Department of Transportation, said about 11,000 voters have gotten the mandated ID cards at the center of the controversial law and thousands more were set to get theirs before the November 6 election. ... Full Story Top Dispute escalates between China and Japan Tue,25 Sep 2012 01:14 PM PDT Reuters - TOKYO/BEIJING (Reuters) - China sent its first aircraft carrier into formal service on Tuesday amid a tense maritime dispute with Japan in a show of force that could worry its neighbors. China's Ministry of Defence said the newly named Liaoning aircraft carrier would "raise the overall operational strength of the Chinese navy" and help Beijing to "effectively protect national sovereignty, security and development interests". ... Full Story Top Clinton reassures Egypt's Mursi on U.S. assistance Tue,25 Sep 2012 12:50 AM PDT Reuters - NEW YORK (Reuters) - Secretary of State Hillary Clinton reassured Egypt's new Islamist president on Monday that the United States would forge ahead with plans to expand economic assistance despite anti-American protests that cast new shadows over U.S. engagement with the region. Clinton met Egyptian President Mohamed Mursi in New York, where both are attending this week's U.N. General Assembly meeting, and reinforced the Obama administration's continued commitment to provide both military and economic aid for Cairo, a senior State Department official said. ... Full Story Top In New York, defiant Ahmadinejad says Israel will be "eliminated" Mon,24 Sep 2012 03:51 PM PDT Reuters - NEW YORK (Reuters) - Iranian President Mahmoud Ahmadinejad said on Monday Israel has no roots in the Middle East and would be "eliminated," ignoring a U.N. warning to avoid incendiary rhetoric ahead of the annual General Assembly session. Ahmadinejad also said he did not take seriously the threat that Israel could launch a military strike on Iran's nuclear facilities, denied sending arms to Syria, and alluded to Iran's threats to the life of British author Salman Rushdie. The United States quickly dismissed the Iranian president's comments as "disgusting, offensive and outrageous. ... Full Story Top Europe must take "deep breath" and enact reforms: Merkel Tue,25 Sep 2012 03:10 PM PDT Reuters - BERLIN (Reuters) - Chancellor Angela Merkel said on Tuesday that Europe could only hope to come out of its crisis stronger and compete in a globalised world if its members pressed ahead with painful reforms and moved to more responsible budget policies. Speaking at a meeting of the Federation of German Industries (BDI), Merkel acknowledged that Germany was "not an island" that could disconnect from economic developments in Europe and the world economy. ... Full Story Top

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