ITALY CRISIS: Monte dei Paschi to get staggering €20BN government bailout

ROME must hand Italy’s oldest lender Monte die Paschi di Siena (MPS) a controversial bailout or face a financial crisis that could destroy its economy and the eurozone.

The troubled bank is teetering on the edge of a full-scale meltdown after failing to raise £4.2billion from private investors in a last-ditch effort to survive without state intervention.

To stop panic ripping through Italy’s banking system, the government is now set to inject €20bn (£17bn) into the most vulnerable lenders. Continue reading

Chinese Police University Trains Beijing Hackers

China’s main internal security and police university is training hackers for cyber attacks, according to new information obtained by the U.S. government.

The People’s Public Security University in Beijing, a part of the Ministry of Public Security that trains all of China’s police and internal security troops, has several units engaged in training and operations for cyber attacks.

One section of the school was identified last month as a key training center for police network attack operations: The Network Attack and Defense Laboratory. The lab uses Chinese software that was identified last year by officials as designed for training cyber warfare operators and spies. Continue reading

Iran’s parliament erupts in ‘Death to America’ chants

The Iranian parliament on Sunday rang out with chants of “Death to America” after the vice speaker delivered an impassioned speech defending the country’s continued use of the expression ahead of the 34th anniversary of the storming of the US Embassy in Tehran.

Vice Parliamentary Speaker Mohammad Hossein Aboutorabifard commended the November 4, 1979, attack on the US embassy as a symbol of “resistance of righteousness against falsehood,” Iran’s Tasnim news agency reported. At the conclusion of Aboutorabifard’s speech to the parliament, MPs joined in a collective chant of “Death to America.” Continue reading