Your Daily Digest for Nov. 11, 2011
The Italian Senate today approved a set of austerity measures to do its part in tackling the European euro crisis as the entire continent is under pressure from the United States to get its act together. The New York Times reported the legislation is aimed at cutting Italy’s 1.9 trillion euro, or $2.6 trillion, public debt and boosting growth, but the European Union has already said that Italy will need to do more. The move includes selling 15 billion euros of state assets and increasing the retirement age to 67 from 65 by 2026. It also “foresees a liberalization of closed professions and labor laws, a gradual reduction in government ownership of local services and tax breaks for companies that hire young workers,” the Times reported.
The U.S., meanwhile, has shown impatience at Europe’s efforts to solve the crisis before the problem screws up the world economy. President Obama on Thursday called the leaders of Germany, France and Italy. U.S. Treasury Secretary Tim Geithner said at an economy conference that “It is crucial that Europe move quickly to put in place a strong plan to restore financial stability.” He urged Asian and Pacific countries to help.
Here’s a neat interactive timeline of the debt crisis.
Pennsylvania Gov. Tom Corbett sent many messages to PSU students at a press conference Thursday, the Daily Collegian reported. He called rioters “knuckleheads” and urged the student body to represent the school with integrity as the whole nation is watching campus. Referencing this weekend’s football game, he asked students to participate in the “Blue Out” in solidarity with child abuse victims.
For updates on the scandal, follow the paper on Twitter @DailyCollegian.
Minnesota nursing homes — made up of 29,000 residents — are exempt from a state “e-prescription” law that aims to reduce medication errors, the Strib reported today. Darlene Felt, 84, died from a potassium chloride overdose after a caretaker misread a handwritten doctor’s note — it was unclear if the woman needed 8 or 80 units of the drug. “We would like to be part of the mandate but, so far, none of the millions in state and federal money for electronic medical records systems has gone to long-term care,” said the CEO of Minnesota’s largest nursing home trade group. In response, some homes are building their own electronic systems.
