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European Leaders Struggle to Resolve Debt Crisis at Summit
• European Union leaders are meeting in a crunch summit Wednesday to find a lasting solution to the spreading eurozone debt crisis.The leaders got a boost earlier in the day when German lawmakers approved a proposal to strengthen the EU's bailout fund. Analysts say that is one essential step in solving the crisis.
Central government allocates 935 million yuan for flood-hit areas in China
The central government allocated 935 million yuan (147 million U.S. raindollars) Wednesday to areas hit by rain-triggered floods, the Ministry of Civil Affairs (MCA) said. The relief funds, jointly allocated by the MCA and the Ministry of Finance, will be used for disaster survivors to relocate, rebuild houses and buy daily necessities. The funds will also be delivered to the family members of the victims, according to the ministry. floodThe funds will go to the flood-hit provinces of Shanxi, Henan, Hubei, Sichuan, Shanxi and Guangxi Zhuang Autonomous Region. The government already allocated 132 million yuan (20.6 million U.S. dollars) to disaster hit areas immediately after the floods happened in September. RainRain-triggered floods and disasters left 97 people dead, 21 missing and 1.23 million affected in September in China's 11 provincialprovinciallevel regions, and a total of 1.93 million people were relocated urgently to avoid further casualties. The disasters also caused an estimated 21 billion yuan (3.29 billion U.S. dollars) in direct economic losses, according to official data.
• World leaders sent condolences and offers of help to Turkey. R ussian Pre sid ent Dmitry Medvedev and President Serzh Sarkisian of Armenia made a joint phone call to Turkish President Abdullah Gul to e x p r e s s t h e i r sympathies.Countries, including the United States and Israel, have offered their help. U.S. President Barack Obama said Sunday the U.S. will stand "shoulder to shoulder" with Turkey during this difficult time.
China to provide food allowance to needy students
The State Council, or China's cabinet, has decided to create a food allowance for about 26 million needy students nationwide, according to a statement issued on Wednesday.Each student will receive an average of three yuan (47 cents) daily from the central budget, said a statement issued after a State Council meeting presided over by Premier Wen Jiabao. The policy will be implemented on a trial basis in 680 less-developed counties, the statement said.Authorities will have to allocate a total of 16 billion yuan annually from the cenrequirements, it said.The money will be given to schools instead of directly to the students' families, allowing the schools to provide more and better food in their canteens, the statement said. Efforts will be made to build better canteens in rural primary and middle schools, the statement said.The statement added that daily allowances for needy students at primary boarding schools will also be increased from three to four yuan, while those for students at middle boarding schools will rise from four to five yuan.
Heading into the talks in Brussels, German Chancellor Angela Merkel urged fellow heads of state to reach an accord.Merkel said the EU leaders need to resolve a series of sticking points and work on moving forward.One is a second bailout for debt-strapped Greece, whose financial woes helped trigger the larger eurozone problems. Greek Prime Minister George Papandreou said it is vital not only to save the euro currency but European ideals."Now is the time for the European leadership collectively to take decisions, to end the uncertainty and the crisis, turn the page and make sure we make a big step forward for the better future, prosperity and security of our peoples in Europe," he said. With the risk of Europe's financial woes spreading overseas, the leaders are facing growing pressure for speedy and strong action. German and French leaders have vowed to reach a sustainable solution before next week's summit of the Group of 20 leading economies summit in France.
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Death Toll Rises in Turkey Quake
• Death Toll Rises in Turkey Quake Rescuers in Turkey have pulled several more survivors from the rubble in the aftermath of Sunday's earthquake that officials say killed 279 people and injured more than 1,000 others. Officials say the magnitude 7.2 quake near Turkey's border with Iran did the most damage in the town of Ercis, about 90 kilometers north of the city of Van. The death toll from the quake is expected to rise.