Unit 1 The Media.pptVIP

Lecture 3 News Weekly Briefs Euro in danger: Germans trigger panic over future of single currency David Charter, Berlin Shocked European ministers are preparing for emergency talks to shore up the euro after markets fell in reaction to panic measures in Germany. Angela Merkel stunned EU capitals by warning that the euro was in danger and triggered fears of a fresh financial meltdown by announcing a ban on risky trading practices by speculators. The German Chancellor’s actions opened up new cracks in the single currency, drawing sharp criticism from France and prompting Brussels to issue an appeal for unity. Shares in London plunged by nearly 3 per cent, with similar falls in Paris, Berlin and Madrid. The euro plummeted to a new low against the dollar before making a slight recovery. Seouls Charges Usher In New Tensions South Korea Formally Accuses the North of Sinking Ship; Pyongyang, in Quick Response, Calls Findings a Fabrication‘ By EVAN RAMSTAD SEOUL—South Korea declared Thursday that North Korea deliberately sank a South Korean warship two months ago, as investigators revealed major sections of a North Korean torpedo found last week near the site of the sinking. North Koreas state news agency reacted with unusual swiftness, issuing a statement that called South Koreas findings a fabrication and said it would send an inspection team to be presented with evidence directly. It also warned it would respond with an all-out war if South Korea or other countries imposed new penalties on it, but it has used such extreme rhetoric many times in the past. Chinese tycoon Huang gets 14 years in prison A Beijing court Tuesday morning sentenced Huang Guangyu, former chairman of Gome Electrical Appliances Holdings, to 14 years in prison for illegal business dealings, insider trading and corporate bribery. Huang, once Chinas richest person, was also fined 600 million yuan ($88 million), with another 200 mi