Spain - Wildfires and drought

Published on Mar 9, 2012 by Euronews

http://www.euronews.com/ Emergency crews are battling wildfires in parts of northern Spain. Some of the blazes are threatening homes in Catalonia and Aragon. After a harsh winter the country is experiencing a sustained dry period with unseasonably high temperatures.

USA - President Barack Obama on Economy: 'Better Days Ahead'

Published on Mar 9, 2012 by AssociatedPress

President Barack Obama hails another month of job growth during a speech about the economy and jobs in Prince George County, Virginia. (March 9)

Angelina Jolie: I don't know anyone who does not hate Joseph Kony

Uploaded by telegraphtv on Mar 9, 2012

Angelina Jolie expresses support for the Joseph Kony 2012 video which calls for the arrest of the fugitive leader of the Lord's Resistance Army militia group in Uganda.

USA - jobless numbers fall again. Employers added 227,000 jobs to their payrolls last month.

Published on Mar 9, 2012 by Euronews

http://www.euronews.com/ The number Americans in work rose again in February for the third straight month of solid US employment growth.

The latest jobs figures are another sign that the recovery in the world's biggest economy is broadening.

They make it less likely that the US central bank, the Federal Reserve, will feel the need for further monetary stimulus.

Employers added 227,000 jobs to their payrolls last month.

The US Labor Department said the unemployment rate held at a three-year low of 8.3 percent, the same as January, even as more people returned to the labour force.

The numbers provide some good news for President Barack Obama in an election year and economists predict the jobless rate could fall below eight percent by November when Americans go to the polls with the economy as the top issue.

Although the job market is picking up, the pace of improvement remains too slow to do much to absorb the 23.5 million Americans who are either out of work or underemployed.

The US economy faces persistent long-term unemployment. In February, about 43 percent of the
12.8 million unemployed Americans had been out of work for more than six months.

Greece - Finance Minister hails 'historic' debt deal

Published on Mar 9, 2012 by Euronews

http://www.euronews.com/ The Greek finance minister has hailed the bond swap deal that has enabled his country to avoid imminent bankrupcty.

The government says well over 80 percent of private creditors have backed a plan that leaves the path clear for a new international bailout worth 130 billion euros from the EU, ECB and IMF.

It aims to use the law to force unwilling investors to participate.

In parliament the Finance Minister
Evangelos Venizelos said it was a historic day for the people and the national economy. The deal had an extremely high degree of success and exceeded all expectations, he said.

"The Greek people will understand that the debt swap deal is the best and most efficient method to solve the economy's problems."

In order to cut the national debt drastically, private investors are accepting huge losses in exchange for new bonds. Greece now looks ready to receive the first batch of bailout funds.

"It is more than expected and I think it is a
resounding success. It is very important, not
the transaction 'per se', but the fact that this is the beginning of the restoration of confidence in the economy," said financial analyst Michalis Massourakis.

On the streets, some are angry at what they see as one rule for the government, another for ordinary people.

"They chase people for owing 100 euros to a bank, yet those who owe billions are exempt? Aren't they ashamed of themselves? I spit on them," said one man.

"It's good for them. What about for us? Nothing! Everyone's left to fend for himself. In a while people will be on the streets." said another.

The unemployment rate - a record 21 per cent in December - is twice the eurozone average; more than half of young people are out of work.

Austerity measures ordered by international creditors have fuelled many people's anger.

Europe - Italian and UK industrial output fall

Published on Mar 9, 2012 by Euronews

http://www.euronews.com/ Italy's industrial output was much weaker than expected in January - down 2.5 percent from December.

On an annual basis -- adjusted to account for different numbers of work days -- it fell five percent.

The decline was led by a decrease in investment goods and consumer goods, national statistics office Istat said.

UK industrial production also suffered a shock fall in January with oil and gas output experiencing the worst decline.

But British factory output was also weaker than predicted.

Industrial output in the UK shrank by 0.4 percent in January, wiping out December's gains and confounding economists' forecasts for a 0.3 percent rise.

The data from Britain's Office for National Statistics will put extra pressure on finance minister George Osborne to find measures to boost the economy as he prepares to unveil his 2012 budget on March 21, and may boost the chances that the Bank of England will extend its asset purchase programme in May.

Brazil - Prince Harry arrives in Rio de Janiero

Uploaded by telegraphtv on Mar 9, 2012

Harry has touched down in Rio on the start of a three-day visit to Brazil where he will promote all things British, as well as play beach volleyball and a charity polo match.

Spain - EU checks Country's deficit figures

Published on Mar 9, 2012 by Euronews

http://www.euronews.com/ The European Commission has confirmed it sent inspectors to Spain this week to evaluate its budget deficit figures for last year.

That after the numbers came in substantially higher than expected at 8.5 percent of GDP, far above expectations for a figure around 6.0 percent.

The size of the deficit has to be confirmed before discussions can start on whether Madrid will be given more flexibility in its targets.

The government also said it would not meet its target for this year of 4.4 percent, saying the deficit would be 5.8 percent.

"Technicians of the European Commission have been in Madrid this week to collect information on the (2011) public accounts," said Amadeu Altafaj, the Commission's spokesman on economic and monetary affairs.

"It is a normal practice in all countries under an excessive deficit procedure."