Salvation Army band set for Eurovision glory

Published on Dec 17, 2012

http://www.euronews.com/ Switzerland will send a Salvation Army band to next year's Eurovision Song Contest. The group Heilsarmee was picked to go to next May's event in Sweden by a public vote, after performing the rock anthem 'You and Me'. One member of the group is a 94-year-old double bass player.

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Italian multi national billion euro investment in Libya

Published on Dec 17, 2012

http://www.euronews.com/ Italy's multi national oil and gas company, Eni plans to invest six billion euros in Libya over the next ten years.

The move is designed to develop ongoing production as well as exploration activities. It will strengthen the company's grip as the leading international oil and gas producer in the country.

Eni which has operated in Libya since 1959 had to halt production early in 2011 after civil war broke out.

It currently produces about one third of Libya's total output and was the first international company to resume production in September last year.

Banking measures set to restore confidence - Draghi

Published on Dec 17, 2012

http://www.euronews.com/ The European Parliament's Economic and Monetary Affairs Committee has heard that new European Central Bank powers to oversee eurozone banks will help restore confidence.

That's the view of Mario Draghi the banks president who also told the committee that he believed the deal will help revive interbank lending.

"We end the year on a positive note with the re-launcing of the longer term vision and most recently with unanimous agreement by the ECOFIN to establish a single supervisory mechanism. This is a clear demonstration that European institutions are determined to act in a timely and decisive way to complete the European monetary union," he said.

Ministers clinched a deal last week to give the ECB oversight of around 150 of the bloc's 6,000 banks although it will have the authority to intervene in smaller banks if there are signs of trouble.

Mario Draghi also told the committee the medium term outlook for the eurozone economy remained, "challenging".

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