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govt rejects responsibility for projects insolvency'
by john rennie
9 december 2012
an official investigation conducted by the european commission will not consider the role of the european central bank (ecb) in italy's bankruptcy, the imf said today.
the ecb had previously decided against pursuing the bank's own legal action to recover funds, arguing that depositors had not been properly informed of the nature of the bank's problems and had made "poor choices," the eu's utive arm said in a statement.
the ecb has been criticised for failing to act faster in resolving the bank's current affairs since it was created in 2004, as it sought to prevent italy's financial sector failing in 2008. the government of italian prime minister matteo renzi, elected in january 2011, says he is to take up the matter with the country's ruling coalition.
at the time of its formation, the italian parliament was overwhelmingly opposed to a resolution of its own, and two years later, as its member states voted for emergency bailouts, the ecb did not act until it could provide the italian banks with capital at an agreed price.
after the banking collapse of 2008, italy lost its banking supervision powers over banks. the new state led by renzi, which has overseen the implementation of the economic reforms implemented by predecessor silvio berlusconi, has shown a determination to revive the economy through fiscal, monetary and other measures. it has also taken over the reins of national central banks, with the help of the international monetary fund.
the latest investigation is likely to make it difficult for the italian government to negotiate with the ecb on a second bail out to avert the risks of another banking collapse and an economic crisis.
"for some months now, all the european commission has been saying to the italian government is that this is a matter for the european central bank. that is very worrying," one senior imf official told spiegel online. "and now we have the commission saying what the italian banking situation could be and could be the subject of a more precise investigation."
the eu utive said that it would consult with the ecb before deciding if it wants to investigate the bank's finances. the ecb has not commented on the investigation.
the european commission has not been involved in overseeing bailouts for banks in greece, spain or portugal, although the european central bank's chairman, mario draghi, has said he will be ready to intervene if the ecb is forced to help greece and spain in their sovereign distress.
draghi suggested that the case of the troubled italian bank's rescue funds could also include any loans from private banks that are also subject to the same risks. the ecb has been trying to negotiate with lenders to provide additional liquidity for its "quantitativ
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man dies in blue mountains truck accident
a 24-year-old texan died monday, july 27, 2014, when his truck collided with another car that had been stopped at a blue line on highway 71, authorities said.
at 11:21 a.m. monday, the txdot had been notified of the crash near mile marker 52 between texarkana and elgin, according to capt. frank starnes of the travis county coroner's office.
the two trucks left at the other truck's side of the line and went west.
"at 11:23 a.m., a male was traveling westbound toward texarkana, approximately 13 miles west of elgin, and he was involved in a northbound truck accident," the txdot wrote in a news release.
"the male truck struck another vehicle and died. the driver of the truck, a 24-year-old texan residing in elgin, was transported to the travis county medical examiner's office to die."
the texas department of public safety said in a news release the driver and passenger in the westbound truck, who are identified as 29-year-old kaitlin williams and 25-year-old robert lewis, were pronounced deceased at the scene.
all passengers were taken to utmb medical center by the txdot with critical injuries.
williams was a certified certified motor carrier from austin.
lewis was an emergency room physician who had worked for the txdot in the dallas area.
no other details about the crash have been released.
the driver of the northbound truck, the passenger in that second truck, remained hospitalized wednesday in serious condition. it wasn't clear whether he is in stable condition.
the driver and passenger in the third vehicle, a dodge charger, were not injured, according to the txdot. the driver of that car was also taken to txdot.
the investigation is ongoing.
this is the second fatality of a motorist driving at a blue line monday. at approximately 9:50 p.m., a 40-year-old man in dallas was struck and killed by a moving vehicle north of the txdot's highway maintenance facility.
a total of nine vehicles, including three emergency vehicles and one bus, have died at blue line crosswalks so far this summer, a txdot spokeswoman said.
on july 21, a man was killed and a woman was injured when the vehicle he was traveling in collided with another car off of highway 61 about seven miles southwest of austin at 10:45 p.m.
in june, a 31-year-old woman was kille |
