High above Melbourne, the recently crowned world's most livable city, a rare, full-floor penthouse apartment has gone on sale.
At 84 floors up, in the city's landmark Eureka Tower, the apartment boasts sweeping views of the city and surroundings, with floor-to-ceiling windows in almost every room.
Its selling agent, Sean Cussell of Marshall White, expects it to attract a premium price, 'probably in excess of A$14 million.'
The sellers are a private company whose principals include Tab and Eva Fried, two of the developers of the tower, which opened in 2006, and who live in a full-floor apartment below.
The 84th floor had been left a shell until about two years ago, with the apartment completed about two months ago. 'No expense has been spared,' Mr. Cussell said.
Melbourne interior designer Margie Bromilow designed the apartment, saying its generous spaces were used to benefit the views.
The tower, at 300 meters, is one of the tallest apartment buildings in the world and is Australia's second-highest building, behind Queensland state's Q1, also an apartment tower. It's located on the southern bank of the Yarra River, which meanders through the city and is a favorite for rowers and tourist cruises, and across from the central business district.
Last month, Melbourne topped a list of the world's best cities in which to live, ranked by the Economist Intelligence Unit.
Mr. and Mrs. Fried's son David, speaking on their behalf, said his parents enjoy living in the Eureka Tower because of its location, amenities and 360-degree views of the city. They cite the apartment's height, privacy and finishes as its best features, he said.
Other tower residents include Australian film director Fred Schepisi, who directed the U.S. romantic comedy 'Roxanne' and made-for-TV 'Empire Falls,' as well as Daniel Grollo, chief executive of Grocon.
The apartment has four bedrooms, while the main bedroom 'retreat' also features his and hers walk-in dressing rooms. Flat-screen televisions are fitted throughout the apartment, which locks itself at night.
The building features a 24-hour concierge service, 25-meter pool, gym and residents' cinema, and the apartment comes with six parking spaces.
Mr. Cussell said it had attracted interest from Asia and would most likely be sold to someone from overseas. It is for sale by expressions of interest, which close Oct. 5.
Tuesday, October 18, 2011
Monday, July 4, 2011
Quiet Beach
The house was quiet at 5 am and Tim’s mother was asleep. Only the sound of the big freezer broke the quiet. He’ d dreamt of the cave last night. The purring of the freezer had been the sea.
Tim pulled on a sweater and put some apples into his schoolbag. It was too early for breakfast. He’d eat after he’ d been through the cave, sitting on the rocks and staring at the sea.
He wished he had a proper pack. His schoolbag would have to do. What else? Sandwiches but his mother might wake up if he started pulling out bread for sandwiches, she’ d want to know why he had to leave so early. He settled for some biscuits, and left a note stuck to the table:
Gone to Michael’s Back tonight, Tim.
The sky was high and soft and light outside, though the sun still wasn’t up. Even the highway up the hill was quiet as he made his way down the street. The wind from the sea was fresh and sweet.
The sandhills still breathed heat from yesterday’s sun, though the top of the sand was cool. He ran down to the beach impatiently, but there was no one, just dry sand dancing in the early wind and seabirds marching up and down watching the waves.
The light changed suddenly. The first rays of sunlight stretched across the sea. The sun was pushing its way over the edge of the world.
Over the first rocks, along to the point. Tim glanced back. The beach was still empty. The sun sailed higher in the sky.
He could see the cave now, even darker in the morning light. The sand turned silver then dark gold as the water flowed away from it. He had to force himself to go closer. Why was it so much more mysterious now? But it would be silly to go back now after so much trouble. He needn’t go in all the way...
Tim pulled on a sweater and put some apples into his schoolbag. It was too early for breakfast. He’d eat after he’ d been through the cave, sitting on the rocks and staring at the sea.
He wished he had a proper pack. His schoolbag would have to do. What else? Sandwiches but his mother might wake up if he started pulling out bread for sandwiches, she’ d want to know why he had to leave so early. He settled for some biscuits, and left a note stuck to the table:
Gone to Michael’s Back tonight, Tim.
The sky was high and soft and light outside, though the sun still wasn’t up. Even the highway up the hill was quiet as he made his way down the street. The wind from the sea was fresh and sweet.
The sandhills still breathed heat from yesterday’s sun, though the top of the sand was cool. He ran down to the beach impatiently, but there was no one, just dry sand dancing in the early wind and seabirds marching up and down watching the waves.
The light changed suddenly. The first rays of sunlight stretched across the sea. The sun was pushing its way over the edge of the world.
Over the first rocks, along to the point. Tim glanced back. The beach was still empty. The sun sailed higher in the sky.
He could see the cave now, even darker in the morning light. The sand turned silver then dark gold as the water flowed away from it. He had to force himself to go closer. Why was it so much more mysterious now? But it would be silly to go back now after so much trouble. He needn’t go in all the way...
Thursday, May 26, 2011
Can Fine-Dining Chefs Cook Brasserie Food?
There are the dishes chefs cook for others, and there are those that they want to eat themselves. And after giving their resume a boost with stints in reputable fine-dining institutions, many find their calling in simpler foods.
This is the case with Mickael Le Calvez, who at the age of 24 became the head chef at the French Window when it opened three years ago. Now, away from the finance crowd and views of Hong Kong's harbor, he has adopted humbler digs at the two-month-old Brass.
Taking over the former space of Japanese restaurant Zenku, but managed by the same restaurant group, Brass is — as its name suggests — a French-styled brasserie.
Things are casual, though there are still white tablecloths. A leg of cured ham is on display right by the front entrance, and a black-and-white French movie is projected onto a wall in the back.
Then there are a few eyesores: a fish tank and Chinese waterfall placed in strategic corners, no doubt for feng shui.
One glance at the food, and you'll see that the chef hasn't shaken off his fine-dining roots. Don't expect stick-to-your-ribs comfort food. There's a little more finesse: The bread comes to the table warm and with a selection of salted and unsalted artisanal hand-shaped butter, for starters. While it lacks the warmth of a neighborhood joint, Brass makes for a suitable place to take colleagues or the in-laws — quiet, understated and reliable.
Lunch is a set menu that includes antipasti and dessert buffet, tea or coffee, along with a choice of six main courses. The most innovative option was a chicken supreme (a breast of chicken with the wing bone attached) served with macaroni gratin and foie gras sauce (268 Hong Kong dollars, or about $34).
And then there are the classics: a brandade of salted cod fish (HK$228), an Australian strip loin steak with pepper sauce and fries (HK$288) and a roasted salmon served with baby peas and a sauce made from clams (HK$268).
When the dishes arrive, the first sight is anticlimactic. Portions are small here, and appear especially so since they come on extra-large white plates. The steak is not the thick slab you'd find in a typical steakhouse. It's closer to the size of a pork cutlet or chicken breast. But the salmon was perfectly grilled so that the center remained rare and tender, melting in your mouth.
Perhaps the best part of the meal was the buffet, which is more bountiful than most in Hong Kong. A glass jar with the chef's homemade rillette (similar to pâté) sits next to a selection of salami and other charcuteries. There's a bit of cheese, some penne pasta salad, roasted red beets and cubes of pork terrine. You could fill up just on the spread alone, but save room for dessert.
The signature item is the chef's floating island (a meringue sitting in custard sauce), but a small yogurt parfait with bits of crumble at the bottom made for the perfect end-of-meal bite. Likewise, we ate every bit of our chocolate mousse.
Chances are you'll see the chef walking in and out of his kitchen in a black toque, making preparations for the day. Save two hours for lunch.
This is the case with Mickael Le Calvez, who at the age of 24 became the head chef at the French Window when it opened three years ago. Now, away from the finance crowd and views of Hong Kong's harbor, he has adopted humbler digs at the two-month-old Brass.
Taking over the former space of Japanese restaurant Zenku, but managed by the same restaurant group, Brass is — as its name suggests — a French-styled brasserie.
Things are casual, though there are still white tablecloths. A leg of cured ham is on display right by the front entrance, and a black-and-white French movie is projected onto a wall in the back.
Then there are a few eyesores: a fish tank and Chinese waterfall placed in strategic corners, no doubt for feng shui.
One glance at the food, and you'll see that the chef hasn't shaken off his fine-dining roots. Don't expect stick-to-your-ribs comfort food. There's a little more finesse: The bread comes to the table warm and with a selection of salted and unsalted artisanal hand-shaped butter, for starters. While it lacks the warmth of a neighborhood joint, Brass makes for a suitable place to take colleagues or the in-laws — quiet, understated and reliable.
Lunch is a set menu that includes antipasti and dessert buffet, tea or coffee, along with a choice of six main courses. The most innovative option was a chicken supreme (a breast of chicken with the wing bone attached) served with macaroni gratin and foie gras sauce (268 Hong Kong dollars, or about $34).
And then there are the classics: a brandade of salted cod fish (HK$228), an Australian strip loin steak with pepper sauce and fries (HK$288) and a roasted salmon served with baby peas and a sauce made from clams (HK$268).
When the dishes arrive, the first sight is anticlimactic. Portions are small here, and appear especially so since they come on extra-large white plates. The steak is not the thick slab you'd find in a typical steakhouse. It's closer to the size of a pork cutlet or chicken breast. But the salmon was perfectly grilled so that the center remained rare and tender, melting in your mouth.
Perhaps the best part of the meal was the buffet, which is more bountiful than most in Hong Kong. A glass jar with the chef's homemade rillette (similar to pâté) sits next to a selection of salami and other charcuteries. There's a bit of cheese, some penne pasta salad, roasted red beets and cubes of pork terrine. You could fill up just on the spread alone, but save room for dessert.
The signature item is the chef's floating island (a meringue sitting in custard sauce), but a small yogurt parfait with bits of crumble at the bottom made for the perfect end-of-meal bite. Likewise, we ate every bit of our chocolate mousse.
Chances are you'll see the chef walking in and out of his kitchen in a black toque, making preparations for the day. Save two hours for lunch.
Monday, May 9, 2011
Workers Enter No. 1 Reactor Building
Workers entered the building of the No. 1 reactor at the Fukushima Daiichi nuclear power plant early Monday, making preparations for a new cooling system that would enable a safe shutdown.
A spokesman for plant operator Tokyo Electric Power Co. said nine workers entered the building around 4 a.m. local time (1900 GMT Sunday) for about 30 minutes. He said the crew initially took radiation-level tests, the results of which would be released at a briefing scheduled later in the day.
In addition, they began to clear equipment so a new cooling system can be installed. This will allow for continuous cooling of water circulating through the reactor. louis vuitton diaper bag, water is being injected from the outside, which creates pools of radioactive water that makes repair work difficult. Tepco hopes to create a closed-loop system for the water, which would be cooled by newly installed fan units and then fed back into the reactor.
If the system works for reactor No. 1, the most severely damaged of the three units in operation at the time of the disaster, work will then begin on units No. 2 and No. 3. The work is a key part of Tepco's road map to bring the units to a safe shutdown and eliminate any further radiation leaks within six to nine months.
A spokesman for plant operator Tokyo Electric Power Co. said nine workers entered the building around 4 a.m. local time (1900 GMT Sunday) for about 30 minutes. He said the crew initially took radiation-level tests, the results of which would be released at a briefing scheduled later in the day.
In addition, they began to clear equipment so a new cooling system can be installed. This will allow for continuous cooling of water circulating through the reactor. louis vuitton diaper bag, water is being injected from the outside, which creates pools of radioactive water that makes repair work difficult. Tepco hopes to create a closed-loop system for the water, which would be cooled by newly installed fan units and then fed back into the reactor.
If the system works for reactor No. 1, the most severely damaged of the three units in operation at the time of the disaster, work will then begin on units No. 2 and No. 3. The work is a key part of Tepco's road map to bring the units to a safe shutdown and eliminate any further radiation leaks within six to nine months.
Sunday, April 10, 2011
Coaching Urged For Women
Inadequate career development has kept women from reaching the top rungs of the corporate ladder, according to a report set to be released Tuesday by management consulting firm McKinsey & Co.
The report, which examines barriers to women's advancement in corporations, is primarily based on a 2011 survey of 2,525 college-educated men and women, including 1,525 individuals employed by large companies, mainly in management.
Despite efforts by major companies, just a handful of women have ascended to the leadership pinnacle, the McKinsey report concluded. Only 11 chief executives of Fortune 500 companies are women, down from a peak of 15 in 2010, according to a spokeswoman for Catalyst Inc., a nonprofit women's research group. There were two Fortune 500 female CEOs in 2000, up from one in 1995, Catalyst said in a 2000 report.
Similarly, the McKinsey study cited a 2010 Catalyst report that said 37% of lower-level and middle managers are female, while just 26% of vice presidents and other senior managers are women at Fortune 500 companies.
To crack the upper echelons of corporate America, McKinsey said companies must groom a deeper bench of female middle managers for advancement.
'By increasing the number of women who make it from middle management to the vice presidential level, corporations could vastly improve the odds for building diversity in top management,' the report added. Even a 25% increase in the ranks of middle-management women reaching the next level 'would significantly alter the shape of the pipeline,' it said.
McKinsey plans to release its report during a 'Women in the Economy' conference sponsored by The Wall Street Journal in Palm Beach, Fla.
Joanna Barsh, a McKinsey senior partner who co-wrote the report, said companies need to spend more time coaching women and offering leadership training and rotation through various management roles before their ambitions sour.
Ms. Barsh said the McKinsey study found that companies weren't 'systematically watching these women at the middle management level and putting in programs that would help them develop and get over the next [promotion] hurdle.'
The paucity of such assistance partly explains why women's ambitions decline over time, said Ms. Barsh. 'Barriers become insurmountable,' especially for working mothers, she added.
Based on the survey, McKinsey researchers found that female ambition declines sharply at middle age. About 64% of women ages 45 to 54 years old expressed a desire to advance professionally, compared with 78% of the men in the same age range. The comparable figures were 92% and 98%, respectively, for women and men aged 23 to 34.
A female former senior executive for a major insurer who wasn't involved in McKinsey's research agreed with the recommendations. Businesses committed to gender diversity at the top shouldn't just give 'lip service by having tokens,' this executive said. They should be 'actively grooming women, making sure they have mentors and actively promoting their careers.'
As part of its research, McKinsey also analyzed the makeup of executive committees at Fortune 200 companies and found women make up just 15% of the top management panels.
These 'women are doubly handicapped' because 62% occupy staff jobs 'that rarely lead to a CEO role,' the study said. In contrast, the report found that 65% of men on executive committees hold line jobs, which typically involve profit and loss responsibility for an operation.
To remedy this situation, the McKinsey report proposed that businesses work harder to change the mind-sets limiting women's opportunities, such as the popular notion that a woman can't juggle certain jobs and family duties.
As further encouragement, the report said that the performance of top managers should be judged partly on their ability to groom and promote female talent.
'A diversity program by itself, no matter how comprehensive, is no match for entrenched beliefs that prevail,' the report said.
The report, which examines barriers to women's advancement in corporations, is primarily based on a 2011 survey of 2,525 college-educated men and women, including 1,525 individuals employed by large companies, mainly in management.
Despite efforts by major companies, just a handful of women have ascended to the leadership pinnacle, the McKinsey report concluded. Only 11 chief executives of Fortune 500 companies are women, down from a peak of 15 in 2010, according to a spokeswoman for Catalyst Inc., a nonprofit women's research group. There were two Fortune 500 female CEOs in 2000, up from one in 1995, Catalyst said in a 2000 report.
Similarly, the McKinsey study cited a 2010 Catalyst report that said 37% of lower-level and middle managers are female, while just 26% of vice presidents and other senior managers are women at Fortune 500 companies.
To crack the upper echelons of corporate America, McKinsey said companies must groom a deeper bench of female middle managers for advancement.
'By increasing the number of women who make it from middle management to the vice presidential level, corporations could vastly improve the odds for building diversity in top management,' the report added. Even a 25% increase in the ranks of middle-management women reaching the next level 'would significantly alter the shape of the pipeline,' it said.
McKinsey plans to release its report during a 'Women in the Economy' conference sponsored by The Wall Street Journal in Palm Beach, Fla.
Joanna Barsh, a McKinsey senior partner who co-wrote the report, said companies need to spend more time coaching women and offering leadership training and rotation through various management roles before their ambitions sour.
Ms. Barsh said the McKinsey study found that companies weren't 'systematically watching these women at the middle management level and putting in programs that would help them develop and get over the next [promotion] hurdle.'
The paucity of such assistance partly explains why women's ambitions decline over time, said Ms. Barsh. 'Barriers become insurmountable,' especially for working mothers, she added.
Based on the survey, McKinsey researchers found that female ambition declines sharply at middle age. About 64% of women ages 45 to 54 years old expressed a desire to advance professionally, compared with 78% of the men in the same age range. The comparable figures were 92% and 98%, respectively, for women and men aged 23 to 34.
A female former senior executive for a major insurer who wasn't involved in McKinsey's research agreed with the recommendations. Businesses committed to gender diversity at the top shouldn't just give 'lip service by having tokens,' this executive said. They should be 'actively grooming women, making sure they have mentors and actively promoting their careers.'
As part of its research, McKinsey also analyzed the makeup of executive committees at Fortune 200 companies and found women make up just 15% of the top management panels.
These 'women are doubly handicapped' because 62% occupy staff jobs 'that rarely lead to a CEO role,' the study said. In contrast, the report found that 65% of men on executive committees hold line jobs, which typically involve profit and loss responsibility for an operation.
To remedy this situation, the McKinsey report proposed that businesses work harder to change the mind-sets limiting women's opportunities, such as the popular notion that a woman can't juggle certain jobs and family duties.
As further encouragement, the report said that the performance of top managers should be judged partly on their ability to groom and promote female talent.
'A diversity program by itself, no matter how comprehensive, is no match for entrenched beliefs that prevail,' the report said.
Wednesday, April 6, 2011
Economists React: PBOC Lifts Interest Rates
China's central bank raised benchmark interest rates Tuesday, a national holiday, lifting one-year yuan lending rate and the one-year yuan deposit rate by 0.25 percentage point each as the country continues to battle inflation. Analysts weigh in:
The timing of today's interest rate hike in China is something of a surprise given more dovish comments in recent days from senior officials, but the rate move is not entirely unexpected. The announcement may cause jitters about the impact tightening will have on Chinese growth. However these should not be overplayed. The latest increases of 25 basis points for one-year deposits and loans are in line with the gradual policy tightening that has been underway over the last few months and will not do much to slow the economy. The benchmark one-year lending rate now stands at 6.31%, still low relative to the pace of economic growth. The constraint on credit growth is the amount that banks can lend rather than the rates they charge. â ' Mark Williams, Capital Economics
This rate hike suggests that the March CPI that is to be released early next week may have surprised to the upside. Our current CPI forecast is 5.2% year-on-year for March. It also suggests that Chinese authorities are confident in the sustainability of underlying growth momentumâ ¦ This rate hike underscores once again the front-loaded monetary tightening, which, together with the rather substantial slowdown in money and credit growth so far this year, bodes well for peaking of the headline inflation rate by mid-year, in our view. â ' Qing Wang, Morgan Stanley
We believe the magnitude of the overall policy tightening package since the start of the year has been large enough to cool down aggregate demand growth sufficiently to lower underlying inflationary pressuresâ ¦ Given the nature of the most of the tightening measures tend to be administratively and quantitatively based, price-based tools which include interest rate hikes and currency appreciation should be welcomed as we believe they tend to be more efficient in resource allocation. Having said that, we believe the 25-basis point hike is more a signaling tool than anything else because of its small magnitudeâ ¦ Going forward, we expect the government to broadly maintain its tightening policy stance in the first half of 2011 given the expected elevated year-on-year CPI, though there might be some subtle adjustments as underlying inflationary pressures come off. â ' Helen Qiao and Yu Song, Goldman Sachs
Today's rate hike suggests three things to us. First, together with one reserve requirement ratio hike on 18 March, today's move signals China's tightening path is less affected by Japan'sâ ¦nuclear crisis. Second, headline inflation is likely to be above 5% in March. Third, China's monetary policy may lean towards front loaded tightening in the first half of the yearâ ¦ Thanks to the strong growth momentum, we expect China's growth to remain strong in the first quarter at 9.7%. However the growth pace is likely to slow gradually in the next few quarters as a result of tightening measures. Therefore, it may make more sense for China to tighten sooner rather than later to fight inflation when the growth rate is still high. â ' Tommy Xie, OCBC
The timing of today's interest rate hike in China is something of a surprise given more dovish comments in recent days from senior officials, but the rate move is not entirely unexpected. The announcement may cause jitters about the impact tightening will have on Chinese growth. However these should not be overplayed. The latest increases of 25 basis points for one-year deposits and loans are in line with the gradual policy tightening that has been underway over the last few months and will not do much to slow the economy. The benchmark one-year lending rate now stands at 6.31%, still low relative to the pace of economic growth. The constraint on credit growth is the amount that banks can lend rather than the rates they charge. â ' Mark Williams, Capital Economics
This rate hike suggests that the March CPI that is to be released early next week may have surprised to the upside. Our current CPI forecast is 5.2% year-on-year for March. It also suggests that Chinese authorities are confident in the sustainability of underlying growth momentumâ ¦ This rate hike underscores once again the front-loaded monetary tightening, which, together with the rather substantial slowdown in money and credit growth so far this year, bodes well for peaking of the headline inflation rate by mid-year, in our view. â ' Qing Wang, Morgan Stanley
We believe the magnitude of the overall policy tightening package since the start of the year has been large enough to cool down aggregate demand growth sufficiently to lower underlying inflationary pressuresâ ¦ Given the nature of the most of the tightening measures tend to be administratively and quantitatively based, price-based tools which include interest rate hikes and currency appreciation should be welcomed as we believe they tend to be more efficient in resource allocation. Having said that, we believe the 25-basis point hike is more a signaling tool than anything else because of its small magnitudeâ ¦ Going forward, we expect the government to broadly maintain its tightening policy stance in the first half of 2011 given the expected elevated year-on-year CPI, though there might be some subtle adjustments as underlying inflationary pressures come off. â ' Helen Qiao and Yu Song, Goldman Sachs
Today's rate hike suggests three things to us. First, together with one reserve requirement ratio hike on 18 March, today's move signals China's tightening path is less affected by Japan'sâ ¦nuclear crisis. Second, headline inflation is likely to be above 5% in March. Third, China's monetary policy may lean towards front loaded tightening in the first half of the yearâ ¦ Thanks to the strong growth momentum, we expect China's growth to remain strong in the first quarter at 9.7%. However the growth pace is likely to slow gradually in the next few quarters as a result of tightening measures. Therefore, it may make more sense for China to tighten sooner rather than later to fight inflation when the growth rate is still high. â ' Tommy Xie, OCBC
Monday, March 21, 2011
Berlusconi himself was very old, not two months of 33 prostitutes
Silvio Berlusconi has ridiculed claims by Italian prosecutors that he paid 33 women for sex in a matter of months, saying he would need the stamina of a man one third his age to maintain such a private life.
The Italian prime minister, who will stand trial on April 6 on charges of having sex with an under age prostitute and abuse of office, launched an angry defence against the accusations, contained in court documents which were released on Tuesday.
"I'm 74 years old and even though I may be a bit of a rascal ... 33 girls in two months seems to me too much even for a 30 year old."
He condemned investigators for citing the women in their dossier because "for the rest of their lives they will be branded with an indelible label – prostitute".
He claimed to have a long-standing "girlfriend", whom he did not identify, who he said would never have allowed him to behave in such a way.
"If I'd done everything they say I've done, she'd have gouged my eyes out. And I can tell you, she has very long finger nails."
He said he had paid for dentistry bills, university tuition fees and medical treatment on behalf of his female friends, but that he did so out of personal generosity, seeking nothing in return. "I'm a walking charity," he said. "I'm happy to be able to do it."
He made the remarks to La Repubblica, a Left-leaning national newspaper that has repeatedly called for his resignation over the prostitution scandal.
Prosecutors have accused the 33 women of prostituting themselves for money, jewellery and other gifts with the billionaire tycoon, who denies all the allegations.
They include the Moroccan-born teenage erotic dancer at the heart of the scandal, Karima El Mahroug, now 18, better known by her stage name as Ruby the Heart Stealer.
Prosecutors say the women took part in "bunga bunga" orgies at Mr Berlusconi's imposing residence at Arcore, near Milan, involving "masks, stripteases and erotic dances" in which they "touched each other mutually or were touched in their intimate areas by Silvio Berlusconi."
The Italian prime minister, who will stand trial on April 6 on charges of having sex with an under age prostitute and abuse of office, launched an angry defence against the accusations, contained in court documents which were released on Tuesday.
"I'm 74 years old and even though I may be a bit of a rascal ... 33 girls in two months seems to me too much even for a 30 year old."
He condemned investigators for citing the women in their dossier because "for the rest of their lives they will be branded with an indelible label – prostitute".
He claimed to have a long-standing "girlfriend", whom he did not identify, who he said would never have allowed him to behave in such a way.
"If I'd done everything they say I've done, she'd have gouged my eyes out. And I can tell you, she has very long finger nails."
He said he had paid for dentistry bills, university tuition fees and medical treatment on behalf of his female friends, but that he did so out of personal generosity, seeking nothing in return. "I'm a walking charity," he said. "I'm happy to be able to do it."
He made the remarks to La Repubblica, a Left-leaning national newspaper that has repeatedly called for his resignation over the prostitution scandal.
Prosecutors have accused the 33 women of prostituting themselves for money, jewellery and other gifts with the billionaire tycoon, who denies all the allegations.
They include the Moroccan-born teenage erotic dancer at the heart of the scandal, Karima El Mahroug, now 18, better known by her stage name as Ruby the Heart Stealer.
Prosecutors say the women took part in "bunga bunga" orgies at Mr Berlusconi's imposing residence at Arcore, near Milan, involving "masks, stripteases and erotic dances" in which they "touched each other mutually or were touched in their intimate areas by Silvio Berlusconi."
Thursday, February 17, 2011
Greenspan Warns of Risks From U.S. Debt
Former Fed Chairman Alan Greenspan said the U.S. could face a bond-market crisis if politicians don't act soon to start cutting the nation's debt.
In an interview Friday with The Wall Street Journal, Mr. Greenspan said that eventually Congress would pass a budget that includes many proposals by a White House debt-reduction panel.
'I think that the type of budget agreement that was put together by Alan Simpson and Erskine Bowles is the type of budget that will be passed by Congress,' Mr. Greenspan said. 'The only question is, will it be before or after the bond-market crisis.'
The former head of the U.S. Federal Reserve was referring to the co-chairmen of the National Commission on Fiscal Responsibility and Reform, who last month won limited support for a sweeping overhaul of U.S. tax and spending policies that would cut $4 trillion in debt.
Mr. Greenspan said the risk of a bond-market crisis is so great that he favors raising taxes immediately.
'The probability that we will go through the next two or three years with no bond-market problems, no inflation problems, is probably better than 50-50,' he said. 'But not much.'
Mr. Greenspan said he thought the economy was gaining momentum, with the strongest signals of growth coming since the middle of last month.
He credited the 'wealth effect,' which refers to an increase in spending that accompanies escalating stock prices.
Mr. Greenspan also defended his legacy, saying he had answered his critics with facts.
'If they prove I'm wrong, I'll change,' he said.
In an interview Friday with The Wall Street Journal, Mr. Greenspan said that eventually Congress would pass a budget that includes many proposals by a White House debt-reduction panel.
'I think that the type of budget agreement that was put together by Alan Simpson and Erskine Bowles is the type of budget that will be passed by Congress,' Mr. Greenspan said. 'The only question is, will it be before or after the bond-market crisis.'
The former head of the U.S. Federal Reserve was referring to the co-chairmen of the National Commission on Fiscal Responsibility and Reform, who last month won limited support for a sweeping overhaul of U.S. tax and spending policies that would cut $4 trillion in debt.
Mr. Greenspan said the risk of a bond-market crisis is so great that he favors raising taxes immediately.
'The probability that we will go through the next two or three years with no bond-market problems, no inflation problems, is probably better than 50-50,' he said. 'But not much.'
Mr. Greenspan said he thought the economy was gaining momentum, with the strongest signals of growth coming since the middle of last month.
He credited the 'wealth effect,' which refers to an increase in spending that accompanies escalating stock prices.
Mr. Greenspan also defended his legacy, saying he had answered his critics with facts.
'If they prove I'm wrong, I'll change,' he said.
Subscribe to:
Comments (Atom)