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THE INTERNATIONAL MONETARY Fund (IMF) is reported to be preparing €600 billion worth of credit for Italy to help stabilise the eurozone nation.
La Stampa newspaper reports (Italian) that the IMF is preparing the credit line for a period of between a year and 18 months in order to help new prime minister Mario Monti stabilise the financial situation in the country.
The interest rate paid on such assistance would be between four and six per cent, much cheaper than the current cost of Italian borrowing which has been hovering above 7 per cent for 10-year bonds alone in recent weeks.
The La Stampa report, which cites an IMF insider, says that the source of such a level of funding is not entirely clear as yet with possible assistance from the European Central Bank (ECB).
Although Germany would be resistant to such involvement by the ECB, as is its long-held view, it is reported that Angela Merkel’s government would be assured by the fact the loans to Italy would be “under strict supervision” by the IMF, according to the paper.
Italy has a debt burden of around €1.9 trillion but is also suffering from weak economic growth.
The uncertainty surrounding the country has unsettled markets in recent weeks leading to fears that it would require a bailout in the manner which Greece, Ireland and Portugal have all needed.
A change of government has done little to assuage fears among investors.
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Hi everyone, I’ve never posted a comment before as I like to read them but I would ask that a little respect for her as I knew her and her family. Her death was sudden and she was a lovely woman, so please be mindful of that when posting. Thank you
Hi everybody I’m just asking for a little bit of respect as I know the woman and her family, so please be mindful of that when you make a comment. She was a lovely woman and her death was sudden. Thank you
Do they put the remains back out or what? This is very interesting
@Ísla Carabine:
Wonder if they’re superstitious?
@Glascott Richard Symes: Surely it would be better to cremate first, then scatter the ashes on the water so that this situation doesn’t arise. What if the same thing happens again.
@Glascott Richard Symes: please tell me you’re joking.
I honestly didn’t know it was even an option here. Terrible for the family right now of course but it’s certainly sounds much more pleasant than being buried
@Avina Laaf: generally I’m not but I would be if this happened!
@Glascott Richard Symes: hang on! The coffin goes out to sea as well?!
Very disappointed with the comments. This women was an Irish citizen and obviously it was a wish to be buried at sea. It’s unfortunate that her remains were washed ashore, this must be heartbreaking for the family to have to deal with. My condolences to the family and friends.
@Donna: I agree Donna. Must be quite disturbing for the family after what happened :(
The coffin you use must be made of solid softwood and must not contain any plastic, lead, copper or zinc. It must have:
between 40 and 50 50mm (2 inch) holes drilled throughout
corners butt-jointed and strengthened with mild steel right angle brackets screwed internally, or substantial wooden bracing struts 50 x 38mm
about 200kg of iron, steel or concrete clamped to the base of the coffin with brackets of 10mm mild steel bar, or blocks of weak concrete mix
weight distributed evenly to prevent the coffin from turning to the vertical
2 long mild steel bands running from the top to the bottom of the coffin
several mild steel bands across the coffin at about 30cm intervals along its length
The coffin and any inner box or liner must be made from natural, non-toxic and biodegradable materials. They must both be able to withstand any impact and be able to carry the body quickly to the seabed.
The only time I have heard of anything similar to this was when some fishermen reckoned that a beam trawler had smashed up a coffin and let the remains up into the current/tide. It may also explain this. Beamers wreck the sea bed.
There are two issues here, first it must be incredibly upsetting and distressing for the family and all who know this woman and anyone would feel for them. Second issue is an environmental one and there are very good reasons why as a species we don’t just bury bodies where we feel like it. Imagine if the body was only a few weeks dead and few kids found it? Insane practise.
Can’t have bodies resurfacing and washing up because bodies are allowed to be buried at sea ,with regulations to protect the environment . You should only be buried at sea as a last resort and not as a choice
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