Wednesday, April 18, 2012

Google News: Fears rise about possible bailout of Spanish banks

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Fears rise about possible bailout of Spanish banks By Stephen Castle LUXEMBOURG - The eurozone's rescue fund has already helped mount bailouts of three of Europe's smaller economies.




Boston Globe - ‎42 minutes ago‎
By Stephen Castle LUXEMBOURG - The eurozone's rescue fund has already helped mount bailouts of three of Europe's smaller economies.
Asia Eyes Spanish Bond Auction Wall Street Journal
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Thursday, April 5, 2012

Google News: GLOBAL ECONOMY-Euro zone economy sinks, US service growth slows

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Reuters - ‎Apr 4, 2012‎
Europe, plagued by a sovereign debt crisis, has become one of the global economy's weakest links. JPMorgan's Global Output Index, a measure of private sector business activity worldwide, fell in March to 54.6, pointing to more modest growth.
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Thursday, February 2, 2012

Super volcanoes are here to stay.


The eruption of some of the largest volcanoes on the planet could be predicted several decades before the event, according to researchers.
Analysis of rock crystals from the Greek island of Santorini suggests eruptions are preceded by a fast build-up of magma underground, which might be detected using modern instrumentation.
Such volcanoes can produce enough ash and gas to temporarily change the global climate.
The research is in the journal Nature.
Volcanologists refer to history's largest volcanoes as "caldera-forming eruptions", as the magma ejected is so voluminous that it leaves a massive depression on the Earth's surface and a crater-like structure known as a caldera.

Start Quot

The largest of these volcanoes have been dubbed "supervolcanoes" and their eruptions can trigger devastation with global impacts.
Such volcanoes can lie dormant for hundreds of thousands of years before blowing. But while researchers believe seismic data and other readings would give us a few month's notice of such an eruption, the new study suggests we might anticipate these events much earlier.
"When volcanoes awaken and when the magma starts to ascend to the surface, cracking rock as it does, it sends out signals," Prof Tim Druitt of France's Blaise Pascal University and lead researcher told BBC News.
"You get seismic signals, you get deformation of the surface, increasing gas emission at the surface - and this can be detected.
"The question we're addressing here is what's going on at depth prior to these big eruptions. The classical view was that during long repose periods over thousands of years, magma slowly accumulates a few kilometres below the volcano and finally it blows.
"What we're finding is that there's an acceleration phase of magma build-up on a time scale of a few decades, and that's surprisingly short given the thousands of years of repose that have preceded that eruption."
The evidence comes from analysis of crystals in pumice rock from the Santorini site, which the researchers in France, Switzerland and Singapore analysed using modern instrumentation including electron and ion microprobes.
"The changes in composition of the crystals with time provide little histories of how the magma itself has evolved," said Prof Druitt.
"What we found was that all the crystals in the magma grew within a few decades of the eruption."
Early warning
Caldera-forming eruption sites can be found all over the world, although it is believed that all are currently dormant. They include sites in Yellowstone National Park in the United States, Campi Flegrei in Italy and Santorini and its accompanying islands.
The eruption at the latter site over 3,600 years ago is called the "Minoan" eruption as it occurred at the height of the Minoan civilisation on the nearby island of Crete and was once thought to have caused its collapse, although that is now a moot point.
Predicting such events years rather than months before they happen could prove vital, says Prof Druitt.
"What we're saying is that all caldera volcanoes, even those in remote regions of the globe, should be monitored using highly sensitive modern instruments in order to pick up these deep signals which may suggest reactivation," he said.
"If you had a big eruption of this sort, let's say in the middle of Europe today, the effects would be enormous and a few months might not be enough to get your act together."
     "The new evidence from mineral grains appears to strengthen the idea, which has been developing in recent years, that large magma systems appear to awaken from long periods of repose only shortly (months, years or decades) prior to eruption.Commenting on the paper, Prof David Pyle, a volcanologist from Oxford University said: "This new work on Santorini sheds new light on what happens in the lead-up to the rare catastrophic eruptions, like the Bronze Age 'Minoan' eruption, which happen every 20,000 years or so.
"That is, the magma which eventually erupts appears to rise into position, in the top few kilometres of the crust, only a short time before the eruption begins."
However, he said the next problem was to try to understand what was causing this accelerated build up of magma.
"The challenge for volcanologists is to understand what it is that causes these bursts of melt movement; to understand where the melts have come from, and to be able to recognise their signals before an eruption begins."

Saturday, January 28, 2012

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Saturday, January 14, 2012

Google News: US Warns Israel on Strike

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US defense leaders are increasingly concerned that Israel is preparing to take military action against Iran,




Wall Street Journal - ‎11 hours ago‎
By ADAM ENTOUS,JULIAN E. BARNES and JAY SOLOMON WASHINGTON—US defense leaders are increasingly concerned that Israel is preparing to take military action against Iran, over US objections, and have stepped up contingency planning to safeguard US ...
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Tuesday, January 3, 2012

Google News: Eurozone crisis: What it means and how it affects world economy

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Zee News - ‎5 hours ago‎
Eurozone crisis was one of the most used terms through 2011, but few really comprehended what the debt crisis was all about. So here is a simple Q&A to cut through the jargon.
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Google News: Iran warns US over aircraft carrier

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Iran warned the United States Tuesday not to return a US aircraft carrier "to the Persian Gulf region. ( Don't sell your guns!) (CNN) -- Iran warned the United States Tuesday not to return a U.S. aircraft carrier "to the Persian Gulf region." "The Islamic Republic of Iran will not repeat its warning," said Maj. Gen. Ataollah Salehi, commander of Iran's Army, according to the state-run news agency IRNA. Salehi "said the country will not adopt any irrational move but it is ready to severely react against any threat," the report added. The U.S. Navy's 5th Fleet, which patrols the region, had no immediate response. What's Iran's real plan? U.S. sanctions hurting Iran's currency Report: Iran tests nuclear fuel rod Navy won't tolerate Iran 'disruption' Iran ended naval drills in the region Monday evening.




CNN - ‎1 hour ago‎
By the CNN Wire Staff (CNN) -- Iran warned the United States Tuesday not to return a US aircraft carrier "to the Persian Gulf region.
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