Five Killed In Romanian Coal Mine Explosion. "The five miners missing in the Saturday afternoon explosion at the Uricani mine, southern Romania, have been killed in the blast, said local mayor Danut Buhaescu.
He added rescuers were struggling to bring out the bodies, which have been dismembered in the powerful blast. The five were electricians and were apparently servicing an electric transformer when the explosion occurred. About 800 miners are employed at the state-owned mine, which is due to be shut down by 2018. Prosecutors have opened an investigation into the accident" (mediafax).Agerpres,Mediafax,Romanian,Vancouver Sun,Global News,Financial Times,Tribune,Wall Street Journal
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The IMF has spoken and the news are not very good. They are not surprising either. If these figures are to be trusted, economic growth will barely pass the 3% mark, which is about twice as less or more for some of the economies from the region as compared to only two years ago. However, slow economic growth may not be the worst news from the region. According to this WSJ article, Eastern Europe is now one of the regions in the world, where more than fifth of the lawyers have been approached to act as an intermediary in a transaction involving corruption. This could mean that Eastern Europe will experience even slower economic recovery, given the toxic influence corruption has on any economic processes. To succeed in such environment, businesses must choose wisely their liaisons, strategy and legal organization.
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