'New Greek bailout terms may be needed'
LOS CABOS: Greece should be given a chance to renegoiate the terms of its 130 billion-euro international bailout if it means keeping the country in the euro zone, the head of the Organization for Economic Cooperation and Development said on Saturday. Angel Gurria, secretary general of the Paris-based OECD, said if the next Greek government opted to stay in the single currency bloc, it was likely to seek to renegotiate the terms of the European Union/International Monetary Fund rescue.!
Facebook to pay US$10 million to settle suit
SAN FRANCISCO: Facebook Inc has agreed to pay US$10 million t o charity to settle a lawsuit that accused the site of violating users' rights to control the use of their own names, photographs and likenesses, according to court documents made public over the weekend. The lawsuit, brought by five Facebook members, alleged the social networking site violated California law by publicizing users' "likes" of certain advertisers on its "Sponsored Stories" feature without paying them or giving them a way to opt out, the documents said.!
Hollande seeks 120b euro 'growth pact'
PARIS: French President Francois Hollande has proposed a 120 billion euro "growth pact" ahead of key talks with eurozone leaders, Le Journal du Dimanche reported yesterday. In a letter sent to fellow European leaders on Thursday, Hollande proposed a series of measures including a financial transaction tax and investment to boost job creation.
India to boost economic ties with Cuba
HAVANA: India wants to strengthen economic ties with Cuba, the top Indian diplomat said Saturday on a trip to the Communist-run Caribbean island. "The purpose of my visit to Cuba is to promote economic relations between both countries," SM Krishna said.
'Parliaments need say in EU integration'
NANTES: National parliaments should provide democratic oversight if Europe adopts more integrated economic governance, France's prime minister said yesterday, warning that the European Central Bank should not dictate countries' policies. "If we are going to work more closely together on what is called economic governance, there also has to be democratic control, which in my view cannot be confined to the European Parliament alone," Jean-Marc Ayrault said.Agencies
Monday, June 18, 2012
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