Failure of EU treaty deal brings a new ‘two-speed Europe’ | euronews, world news
There will be no changes to the Lisbon Treaty after the failure of all 27 members states to agree on terms, meaning the 17 eurozone countries will have to come to a side deal.
The amendments to the EU treaty would have meant closer fiscal integration aimed at saving the euro, but now the eurozone countries, plus possibly another six EU members, will have to go it alone.
The UK and Hungary remain opposed to signing a new treaty or making changes to current ones.
Scotland storm: Work to restore power to homes
Engineers are trying to reconnect more than 70,000 Scottish homes left without power overnight but many may not have electricity until the weekend. Thursday's storm, the worst of its kind in a decade, brought down trees, closed roads and schools and knocked out power lines. The storm eased in the central belt on Thursday evening but caused problems across the north and north east.
Engineers are trying to reconnect more than 70,000 Scottish homes left without power overnight but many may not have electricity until the weekend. Thursday's storm, the worst of its kind in a decade, brought down trees, closed roads and schools and knocked out power lines. The storm eased in the central belt on Thursday evening but caused problems across the north and north east.
Gaza rocket fire continues: 3 more Kassams fired at Israel
Three Kassam rockets fired from the Gaza Strip exploded in southern Israel Friday morning, the latest in a spate of rocket attacks in the past 24 hours. Two of the rockets exploded in the Ashkelon Regional Council shortly after 12 p.m. and another in the Sha'ar Hanegev Regional Council around 9 a.m. No damage or injuries were reported. Overnight, the Israel Air Force struck targets connected with terrorist activity in the Gaza Strip in response to rockets Thursday,
Three Kassam rockets fired from the Gaza Strip exploded in southern Israel Friday morning, the latest in a spate of rocket attacks in the past 24 hours. Two of the rockets exploded in the Ashkelon Regional Council shortly after 12 p.m. and another in the Sha'ar Hanegev Regional Council around 9 a.m. No damage or injuries were reported. Overnight, the Israel Air Force struck targets connected with terrorist activity in the Gaza Strip in response to rockets Thursday,
Economist warns global slowdown will be of Biblical scale
OTTAWA — Such is the severity of post-recession malaise engulfing the world that CIBC's chief economist invokes Biblical comparisons to warn the end of the "famine" is years away.
"Akin to Pharaoh's dream for Egypt, the global economy could well be in the midst of seven lean years, as the debt-financed bounty of the prior expansion left a growth famine in its wake," Avery Shenfeld said in his year-end economic outlook.
The Pharoah's dream, contained in Genesis, portends seven years of prosperity followed by seven lean years. Now halfway though those leans years, which began with the recession in 2008, Canada, and the world around it, will be mired until mid-decade in a prolonged slump, Shenfeld said.
Read more: http://www.ottawacitizen.com/business/Economist+warns+global+slowdown+will+Biblical+scale/5831205/story.html#ixzz1g3SjeuSA
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