Governor: Europe Won’t Block 2 Missouri Executions
Why Europe’s PIIGS are flying
The Missouri executions would be the first to use propofol. Nixon said state and federal court systems, not European politicians, will decide death penalty policy in Missouri. “A number of courts have already had an opportunity to review this matter,” Nixon also said, referring to broader legal challenges to the death penalty. “We’re going to continue to monitor it very closely. At this point, there’s no stay in effect.” On Friday, the American Civil Liberties Union filed a lawsuit against the Missouri Department of Corrections, alleging that the agency failed to comply with open records requests related to its planned use of propofol in executions. The Missouri Society of Anesthesiologists has also urged the state to reconsider using propofol, warning that Missouri “is on the verge of triggering a national drug shortage that will have a severe impact on the general welfare of the citizens of our state and our country.” The U.S. Food and Drug Administration has also expressed concern about any move that would limit access to the drug. A lawsuit filed against the state by 21 death-row inmates after the new protocol was announced remains pending. Missouri turned to propofol for executions only after the drugs it and other states previously used for lethal injection could no longer be obtained by prisons and corrections departments because drug makers did not approve of such uses. Propofol is America’s most popular anesthetic, according to the American Society of Anesthesiologists. About 50 million vials are administered annually in some 15,000 U.S. hospitals and clinics about four-fifths of all anesthetic procedures. The society said in a statement that propofol is popular because it works quickly and patients wake up faster with fewer side effects such as post-operative nausea. Convicted killer Allen Nicklasson is scheduled to die by injection on Oct. 23 in the state’s first use of propofol for capital punishment since changing its execution protocol last year.
RPT-Split on finance overshadows Europe-U.S. trade talks
Veteran Miguel Angel Jimenez set the tone with a 6 & 4 rout of David Lynn, who was battling the flu, as Continental Europe ended a string of six consecutive defeats at this event. Continental Europe was ahead after the first two days, but GB&I rallied during Saturday’s foursomes to pull even, 9 – 9, entering the singles. Both teams were awarded a half point Sunday morning when GB&I’s Simon Khan withdrew with a back injury, which forced Continental European to eliminate one of its players as well. Thomas Bjorn drew that unlucky distinction, leaving both sides in need of five points for the victory. The singles went down to the final match, and as he did at the Ryder Cup in Medinah, Francesco Molinari anchored the winning side, securing a long-awaited Continental Europe victory with a 3 & 2 defeat of Chris Wood at Saint-Nom-La- Breteche. “Very emotional — it’s been a tough day,” said winning captain Jose Maria Olazabal. “Everything went to the last match. The boys really played well today and I’m very, very happy to have won the Seve Trophy this time.” GB&I struck first on Sunday when Tommy Fleetwood claimed his first point of the week with a 3 & 2 win over Joost Luiten, who was unbeaten entering the match. After Jamie Donaldson and Gonzalo Fernandez-Castano halved their match, Ryder Cup standout Nicolas Colsaerts drew Continental Europe even, draining a 5- footer for par at the last to secure a 1-up win over Paul Casey. Frenchman Gregory Bourdy then continued his stellar play and pushed Continental Europe in front with a 4 & 3 triumph over Scott Jamieson. Bourdy, who never trailed in the match, became the first player in the event’s history to win five points out of five. “I’m so happy to achieve that, and it was an amazing week for me,” said Bourdy. The jostling continued, however, as Marc Warren wrapped up a 4 & 3 ousting of Thorbjorn Olesen to again square the tournament, 12 – 12, with four matches left on the course. From there, Continental Europe took control.
Continental Europe ends Seve Trophy drought
However, the United States and European countries regulate banks, insurers and traders in very different ways, particularly in the $630 trillion derivatives industry. COLD SHOULDER Never was the difference more evident than during the financial crisis, when Washington moved quickly in 2008 to tackle problems at its banks with a compulsory scheme to take on new capital, reassuring investors. Five years on, Europe and its uneasy alliance of 28 countries is still struggling to impose order on its financial system and has had to give emergency aid to five countries. This is mirrored in regulation, where the two sides have also clashed over the control of derivatives, with Washington demanding that global trading involving U.S. firms be subject only to U.S. rules, regardless of where it happens. Europe wants a pact that spells out which regulators are responsible for what activities, and how the rules should apply. Some EU officials talk about creating new EU-U.S. institutions to oversee finance, such as jointly tackling any future transatlantic banking crisis. Banks hope for less duplicated regulation. “In derivatives, without an agreement … banks will have to comply with both U.S.
was on the path to a credit default. Democrats reposted that it was reckless of Boehner to raise the possibility of a default. “Comments yesterday by House Speaker John Boehner that he would not facilitate bills to reopen the government or lift the debt ceiling in the absence of an agreement to wide-reaching talks on fiscal policy suggest that we should not anticipate an early resolution,” Chris Scicluna, an economist at Daiwa Capital, said in a research note. The FTSE 100 closed unofficially down 0.3 percent; the German DAX closed down around 0.4 percent. Meanwhile, U.S. stocks were off lows in late morning trade, after the Dow touched a one-month low. Greek stocks higher In Greece, a draft budget for next year was presented to parliament by the Finance Ministry on Monday. Greek stocks were the standout gainer on Monday, closing up 2.5 percent, helped by the bullish tone set by U.S. hedge fund managers such as John Paulson. After the market close it unveiled a strict turnaround plan aimed at regaining profitability and fending off nationalization. In stocks news, shares of European airlines firm Air France KLM closed 1.18 percent lower after it reported weak cargo traffic for September.
Europe shares close lower as shutdown fears weigh
Greece’s unemployment stands at over 27%, and youth jobless rates have hit 65%. The European press is chock full of stories of Greek professionals living hand to mouth. Greece is the closest thing you see to the Great Depression of the 1930s in today’s global economy. Yet, it’s always darkest before the dawn. Greece is now on track to produce a “primary surplus” a budget surplus this year before interest payments. Gross domestic product (GDP) in the second quarter expanded for the first time in four years. That means that instead of shrinking 4.2%, the Greek economy will only contract 3.8% in 2013. Unemployment has also dropped recently, albeit only by a hair’s breadth. Greece’s Economic Sentiment Index (ESI) also climbed in September to the highest level in two years. Most importantly, Greece has made money for investors, with the Global X FTSE Greece 20 ETF rallying 43.55% in over the past six months. Much of that has come since Sept. 1, with GREK jumping 23.92% in September and rising 6.58% this month.