Decomposed body in boat washed up on remote Pacific island

A file photo taken on March 3, 2014, shows a high tide energized by storm surging washes across Ejit Island in Majuro Atoll, Marshall Islands. Climate change will dominate discussions when the leaders of vulnerable Pacific nations hold their annual meeting in the Samoan capital Apia starting 05 September, 2017, with global warming threatening their existence, officials say. The 18-member Pacific Islands Forum (PIF) includes countries such as Kiribati and Tuvalu, which are only metres above sea level and risk being swamped by rising oceans. (AFP)
Updated 06 September 2017

Decomposed body in boat washed up on remote Pacific island

MAJURO, Marshall Islands: A decomposed body, believed to be Mexican or Colombian, has been found in a washed up boat on a remote Pacific island, officials said Wednesday, raising the possibility it had drifted 9,400 kilometers (5,800 miles) from Latin America.
The remains were in a six-meter (20 feet), blue fiberglass vessel with a 150 horsepower engine that was found on Likiep Atoll in the Marshall Islands.
Authorities believe there may have been three people on board — one from Mexico and two from Colombia — based on identity cards found.
“The body was really decomposed, so we couldn’t identify it with the ID cards we found on the boat,” Likiep Atoll Mayor Veronica Wase said.
The IDs were for a Mexican and two Colombians — one of whom was a fisherman for “ornamental fish” according to another document found on the boat.
Two fishermen from Likiep found the boat last Friday and alerted local officials with Wase calling in government, law enforcement and health officials from the capital Majuro.
The body was left on the atoll, 386 kilometers north of Majuro, until it was cremated earlier this week to avoid any health problems for local residents, authorities said.
Ministry of Foreign Affairs staff said they were communicating with the Mexican embassy in the Philippines about the find.
Three years ago an El Salvadoran, Jose Alvarenga, survived 14 months adrift from Mexico, floating into Ebon Atoll in the Marshall Islands on a similar size fiberglass boat.
Another fisherman with Alvarenga died during the voyage.
In 2006, three Mexicans were rescued near the Marshalls after drifting for more than nine months.


Italy has nothing to fear from ESM reform, PM Conte says

Updated 11 December 2019

Italy has nothing to fear from ESM reform, PM Conte says

  • Critics of the planned changes to the European Stability Mechanism (ESM) say they would make it more likely that Italy will have to restructure its debt
  • During his speech to parliament, Conte sharply rejected criticisms by the right-wing League and Brothers of Italy parties

ROME: Italian Prime Minister Giuseppe Conte dismissed criticisms of planned reforms to the euro zone bailout fund on Wednesday, saying the proposals, which have been heavily attacked by right-wing opposition parties, posed no threat to Italy.

Critics of the planned changes to the European Stability Mechanism (ESM) say they would make it more likely that Italy will have to restructure its debt, the highest in the euro area as a proportion of national output after Greece’s.

“Italy has nothing to fear ... its debt is fully sustainable, as the main international institutions, including the (EU) Commission have said,” Conte told parliament ahead of a European Council meeting this week to discuss the reform.

He repeated that Rome would not agree to any restrictions on banks holding sovereign debt.

During his speech to parliament, Conte sharply rejected criticisms by the right-wing League and Brothers of Italy parties, saying they appeared aimed at undermining Italy’s membership of the single currency.

“Some of the positions that have emerged during the public debate have unveiled the ill-concealed hope of bringing our country out of the euro zone or even from the European Union,” Conte said.

The League and Brothers of Italy have attacked the planned reforms to the ESM, which they say will open the door for a forced restructuring of Italy’s public debt that would hit Italian banks and savers who invest in government bonds.

Some members of the anti-establishment 5 Star Movement have made similar criticisms, adding to tensions with their partner in the ruling coalition, the center-left Democratic Party.

Lawmakers from 5 Star and the Democratic Party appeared to have smoothed over their differences on Wednesday, however, agreeing to drop demands for a veto on measures that could make it easier to reach a debt restructuring accord.

In a final resolution, they scrapped calls for a veto on so-called single limb collective action clauses (CACS), that limit the ability of individual investors to delay any restructuring agreement by holding out for better terms.

Under the new system, restructuring would go ahead after a single, aggregate vote by bondholders regarding all affected bonds while the clauses currently in place require an aggregate vote as well as an individual bond-by-bond vote.

Italy has asked to clarify that the new clauses will not rule out the so-called sub-aggregation, allowing separate votes for different groups of bond issuances to protect small investors, a government official told Reuters.