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From COP27 to EU spending rules, here are the top stories of the week

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From COP27 to EU spending rules, here are the top stories of the week

_State of the Union is our weekly present from Brussels that brings you the highest tales of the week.
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The United Nations’ COP27 local weather convention kicked off in Egypt this week after a yr of utmost climate.

Previously few months, climate-induced catastrophes have killed hundreds, displaced thousands and thousands and value billions in damages the world over.

Huge floods devastated Pakistan and Nigeria, whereas huge rivers in Europe carried spectacularly small quantities of water.

Droughts worsened in Africa and the western United States and sizzling summer season temperatures in Europe stretched nicely into October.

The warning issued by the UN secretary normal gave the impression of now we have heard all of it earlier than.

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“The clock is ticking. We’re within the struggle of our lives and we’re shedding. Greenhouse fuel emissions continue to grow, world temperatures preserve rising, and our planet is quick approaching tipping factors that may make local weather chaos irreversible,”  stated Antonio Guterres.

“We’re on a freeway to local weather hell, with our foot nonetheless on the accelerator…humanity has a selection: cooperate or perish. It’s both a local weather solidarity pact – or a collective suicide pact.”

For the primary time, the hot-button challenge of reparations was adopted onto the official agenda, raised for the primary time by climate-vulnerable international locations from the International South 30 years in the past.

Generally known as “loss and harm” funds, this cash is designed to assist international locations cope with catastrophic local weather results not of their very own making.

The US and the EU have previously rejected these further funds, however Brussels has since signalled a change of coronary heart, as European Fee President Ursula von der Leyen stated.

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“It is vital to take a seat down and actually outline and kind out what it’s, after which to take a look at the funding that’s out there and I am not talking of the 100 billion which can be for local weather finance there…I am talking about different funds now we have to take a look at,” she stated in Egypt.

Mats Engström, senior adviser on the Swedish Institute for European Coverage Research informed Euronews to not count on too many new commitments on local weather motion from COP27.

“Now we have not seen that many new commitments forthcoming and it is a tough geopolitical scenario, however we are able to hope for it maybe in two years’ time, in 2024, when there will probably be a gathering in Europe like this and in addition an enormous summit of the longer term on the UN,” Engström stated.

EU spending guidelines to vary?

Brussels appeared able to make austerity a factor of the previous this week as nicely, because it took the primary formal steps to reform the long-standing fiscal guidelines that rein in extreme authorities spending.

The legally-binding guidelines, which date again to the Maastricht Treaty within the early Nineteen Nineties, compel EU states to maintain their public deficit beneath 3% and their debt-to-GDP ratio beneath 60%, thresholds that many at present exceed by a big margin.

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The principles have remained suspended because the outbreak of the COVID-19 pandemic in March 2020.

A brand new proposal by the European Fee, unveiled on Wednesday afternoon, intends to open a brand new chapter and transfer previous the contentious financial debates which have characterised the final decade.

“Virtually all member states have damaged the principles at one time or one other,” Valdis Dombrovskis, the European Fee’s Govt Vice-President, informed reporters. “And the principles have additionally turn into very advanced.”

Underneath the Fee’s proposal, each the three% deficit and 60% debt targets will stay untouched however better flexibility will probably be launched to adapt the targets to the precise circumstances of every nation.

Capitals will have the ability to give you their very own blueprints to regulate public deficit and progressively lower debt throughout a four-year interval. Extremely indebted international locations could be granted an additional three years to regulate their funds.

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The plans will probably be negotiated first with the European Fee after which accredited by the EU Council, constructing upon the mannequin used to unlock COVID-19 restoration funds.

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Crypto hacking thefts double to $1.4 bln in first half, researchers say

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Crypto hacking thefts double to $1.4 bln in first half, researchers say
The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said on Friday.
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Australian leader urges control of territory's soaring crocodile population after fatal attack of 12-year-old

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Australian leader urges control of territory's soaring crocodile population after fatal attack of 12-year-old
  • Crocodile numbers must be controlled after a fatal attack on a 12-year-old girl, according to the leader of Australia’s Northern Territory.
  • The crocodile population in Northern Australia has soared from 3,000 to 100,000 under protection since the 1970s.
  • The recent death near Palumpa has spurred focus on crocodile management.

Crocodile numbers in Australia’s Northern Territory must be either maintained or reduced and cannot be allowed to outstrip the human population, the territory’s leader said after a 12-year-old girl was killed while swimming.

The crocodile population has exploded across Australia’s tropical north since it became a protected species under Australian law in the 1970s, growing from 3,000 when hunting was outlawed to 100,000 now. The Northern Territory has just over 250,000 people.

The girl’s death came weeks after the territory approved a 10-year plan for management of crocodiles, which permits the targeted culling of the reptiles at popular swimming spots but stopped short of a return to mass culls. Crocodiles are considered a risk in most of the Northern Territory’s waterways, but crocodile tourism and farming are major economic drivers.

AUSTRALIAN GIRL, 12, KILLED BY CROCODILE WHILE SWIMMING IN CREEK

“We can’t have the crocodile population outnumber the human population in the Northern Territory,” Chief Minister Eva Lawler told reporters Thursday, according to Australian Broadcasting Corporation. “We do need to keep our crocodile numbers under control.”

The remains of a 12-year-old girl were discovered in the Northern Territory of Australia on Thursday after a crocodile attack. (AP Newsroom/Getty Images)

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In this week’s deadly attack, the girl vanished while swimming in a creek near the Indigenous community of Palumpa, southwest of the territory’s capital, Darwin. After an intense search, her remains were found in the river system where she disappeared with injuries confirming a crocodile attack.

The Northern Territory recorded the deaths of 15 people in crocodile attacks between 2005 and 2014, with two more in 2018. Because saltwater crocodiles can live up to 70 years and grow throughout their lives — reaching up to 23 feet in length — the proportion of large crocodiles is also rising.

Lawler, who said the death was “heartbreaking,” told reporters that $337,000 had been allocated in the Northern Territory budget for crocodile management in the coming year.

The region’s opposition leader, Lia Finocchiaro, told reporters that more investment was needed, according to NT News.

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The girl’s death “sends a message that the Territory is unsafe and on top of law and order and crime issues, what we don’t need is more bad headlines,” she said.

Professor Grahame Webb, a prominent Australian crocodile scientist, told the AuBC that more community education was needed and the government should fund Indigenous ranger groups and research into crocodile movements.

“If we don’t know what the crocodiles are likely to do, we’re still going to have the same problem,” he said. “Culling is not going to solve the problem.”

Efforts were continuing to trap the crocodile that attacked the girl, police said on Thursday. Saltwater crocodiles are territorial and the one responsible is likely to remain in nearby waterways.

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Mount Stromboli erupts off Sicilian coast

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Mount Stromboli erupts off Sicilian coast

Volcanic activity has intensified in Italy as Mount Stromboli belched ash and lava off the coast of Sicily.

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A second volcano has erupted in Italy this week – as Mount Stromboli belched ash and lava just off the northern coast of Sicily. 

Local media report that the Italian fire department has enhanced its monitoring of the volcano as it becomes more active.

The coast guard has stepped up its activity too deploying more patrol boats and aircraft. 

The Volcanic Ash Advisory Centre (VAAC) based in Toulouse, France warned of an ash plume that rose up to an estimated altitude of 2000m.   

Lava flowed from the volcano into the sea along the Sciara del Fuaco, a depression on the island which serves as a major tourist attraction for the island.

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Stromboli is one of the most active volcanoes in the world – renowned for its regular, but normally minor, eruptions that send lava oozing from vents inside its crater. 

It has been active for thousands of years. With an area of 12.6 square kilometres, the island represents the upper third of the volcano. 

The minor eruptions which are often visible from the island and surrounding sea have given rise to its nickname of the “Lighthouse of the Mediterranean.”  

Yesterday, Mount Etna erupted with a spectacular display of lava and ash. Lava flowed from the 3,300 metre high mountain. 

The eruption caused Italy’s Civil Protection agency to raise the alert level in the area from green to yellow. 

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The two volcanoes are barely 180km away from each other.

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