June 10th, 2011
07:22 PM GMT
Share this on:

Brian Lenihan, the former Irish finance minster for Fianna Fail who Friday died of pancreatic cancer aged 52, played a pivotal role in the country's bailout, following its near economic collapse.

It was Lenihan who fronted the 2008 legislation that guaranteed full repayment of loans lent to the banks by private creditors. The guarantee was designed to create confidence and fend off a run on the banks, which were under pressure due to investments in overheated property deals.

And it was Lenihan who took center stage in navigating the country through last year’s bailout by its eurozone peers and the International Monetary Fund, the result of the country’s financial meltdown.

FULL POST



June 10th, 2011
02:26 PM GMT
Share this on:



June 10th, 2011
11:42 AM GMT
Share this on:



June 10th, 2011
06:48 AM GMT
Share this on:

(CNN) – The Australian government's decision to temporarily ban live cattle exports to Indonesia has dealt a crushing blow to the beef industry, with some fearing the move could permanently damage relations with this vital market.

The ban follows the airing of gruesome footage on the Australian Broadcasting Corporation's “Four Corners” program last week showing the brutal treatment of Australian cattle in Indonesia abattoirs. The video shows cattle being kicked, hit, their eyes gouged and tails broken by Indonesian abattoirs, prompting a national outcry and swift government action.

Live cattle exports will only be resumed once those safeguards are put in place, said Senator Joe Ludwig, Australia’s Minister for Agriculture, Fisheries and Forestry.

"This suspension will be in place until the Government establishes sufficient safeguards to ensure there is verifiable and transparent supply chain assurance up to and including the point of slaughter for every consignment that leaves Australia,” said Ludwig, who announced the ban on Wednesday.

The Indonesian government admits conditions in slaughterhouses must be improved but says they will now source beef from other countries such as New Zealand and Brazil.

But industry officials say the six-month ban could cripple Australian cattle farmers.

FULL POST



About Business 360

CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.

 
 
Powered by WordPress.com VIP