NPR 2011-08-12

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"As the economy was improving and improving through 2009, 2010, the beginning of this year, suddenly it was hit with the unrest in the Middle East that helped send gas prices through the roof. Europe is dealing³ with all sorts of financial turmoil⁴ that is lapping up on our shores."

 

But today in Europe, the markets were up nearly 3%. From Berlin, NPR's Tom Gjelten tells us that investors⁵ are getting some reassurance⁶ after their government leaders opted⁷ to cut their vacations to deal with the eurozone's troubles.

 

French President Nicolas Sarkozy had been riding his bike in the Riviera. German Chancellor⁸ Angela Merkel was hiking with her husband in the Tyrolean Alps. But both are now back at work, and Sarkozy's office says he and Merkel will meet next Tuesday to discuss what can be done to address the eurozone crisis. That announcement was enough to spur a rally in European markets. They closed up across the board after spending most of this week in a nosedive. The selling may not be finished, however. European banks are heavily exposed to high-risk government debt, and investors here know the troubles in the eurozone are far from over.

 

Japan's Trade Ministry⁹ will no longer control the country's regulatory agency after accusations¹⁰ surface that the agency has been too cozy¹¹ with pro-nuclear interest groups. John Matthews reports on the shakeup coming some five months after an earthquake and tsunami¹² damaged the Fukushima Daiichi nuclear plant and triggered a radiation leak. 

 

Japan's Nuclear and Industrial Safety Agency has come under heavy fire in the past few months, most notably¹³ by Prime Minister Naoto Kan himself for not being an independent watchdog over the country's nuclear plants. Chief Cabinet Secretary Yukio Edano says the agency will be settling into the Environmental Ministry, noting nuclear and environmental issues share a common bond. The move is the administration's reaction to a building wave of resentment¹⁴ against regulators and their alleged¹⁵ negligence¹⁶ in handling the country's nuclear crisis. The agency will need approval from a divided parliament before relaunching next April. For NPR News, I'm John Matthews in Tokyo.

 

The Dow was up 426 points.

 

This is NPR News.

 

Sporadic¹⁷ fighting still threatens the security of humanitarian¹⁸ groups in Somalia, who are trying to reach those populations stricken by famine. But the United Nations Food Agency says food is getting to more people, especially since Islamist militants¹⁹ pulled out of the capital Mogadishu over the weekend, though they remain in control of regions most severely²⁰ affected²¹ by food shortages. More than 3.5 million people in Somalia are confronted with starvation as the Horn of Africa endures its worst drought in decades.

 

This October could be your last shot for at least a year to travel up the Statue of Liberty. The outside of the monument will still be largely visible to the public, but NPR's Margot Adler reports the interior will be closed to visitors while it gets a 27-million-dollar renovation²² to make safer and more accessible.

 

The Statue of Liberty was closed for three years after the September 11th attacks. The base reopened in 2004 after a 20-million-dollar security upgrade. The crown reopened in 2009. Stairways, elevators and bathrooms will be upgraded as well as electrical and fire suppression systems. Current fire codes mandate²³ that the statue be evacuated²⁴ within two hours if necessary, but the current staircases on either side of the pedestal don't meet these standards. Liberty Island will remain open, and views of the statue will mostly be unobstructed. About 3.5 million people visit the Statue of Liberty every year, although only about 240 people a day are allowed to visit the observation deck at the top of the crown. Margot Adler, NPR News, New York.

 

All indexes up more than 4% with the Dow up 445 points at 11,165.

 

I'm Lakshmi Singh, NPR News.

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