(Bloomberg) -- North Korean Major General Pak Rim Su disputed the results of the international investigation into the sinking of a South Korean warship and said "any accidental clash that may break out in the waters of the West Sea of Korea or in areas along the Demilitarized Zone will lead to all-out war," at a press conference today, according a KCNA statement. Bloomberg's Margaret Brennan reports.
Friday, May 28, 2010
Wayne Madsen: Japan real target of Korea attack
May 28, 2010 — Was the destruction of the South Korean warship Cheonan a provocation? Can it be compared to the Gulf of Tonkin? RT contributor Wayne Madsen says that the sinking of the warship was really intended to convince Japan not to move US forces off Okinawa as well as divert the attention of Americans from the dire economic situation at home.
Deadly Volcano Blast in Guatemala
Video of Guatemala Pacaya volcano eruption
May 28, 2010 — One person is dead and 3 children are missing after a volcano eruption in Guatemala. Volcano Pacaya started spewing lava and rocks on Thursday afternoon, covering the Guatemalan capital with ash. 1,600 people have been evacuated from the area. The city's international airport has been shut down and the Guatemalan president has declared a state of emergency.
A volcano eruption in Guatemala has killed a reporter and left three children missing. A spokesman for the national disaster agency says television the reporter was hit by a shower of rocks spewing from the Pacaya volcano.
Spain Savings Banks Face Consolidation or Insolvency
May 28, 2010 — May 28 (Bloomberg) -- Bloomberg's David Tweed reports from Madrid about the financial position of Spanish savings banks. The so-called cajas helped fuel Spain's housing boom, accounting for about 50 percent of loans, and since the property crash triggered by the country's worst recession in 60 years the lenders have been under pressure to merge. The Bank of Spain seized CajaSur on May 22 after the bank lost almost 600 million euros ($742 million) in 2009.
Spain austerity package fuels anger
May 27, 2010 — Spain's labour unions have threatened to launch a general strike if labour reforms contained in the $18bn austerity package, which the parliament passed on Thursday, are implemented.
Many fear the spending cuts will exacerbate the country's job situation, which suffers from a 20 per cent unemployment rate.
But Jose Luis Rodreguez Zapatero, the country's prime minister, insists that the measures are vital to bring under control the country's alarming budget deficit.
Al Jazeera's Tim Friend reports.
[May 27, 2010]
Many fear the spending cuts will exacerbate the country's job situation, which suffers from a 20 per cent unemployment rate.
But Jose Luis Rodreguez Zapatero, the country's prime minister, insists that the measures are vital to bring under control the country's alarming budget deficit.
Al Jazeera's Tim Friend reports.
[May 27, 2010]
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