Press digest

The following are the top stories in the Maltese and overseas press:

The Times and many of the newspapers features the arrival of the prime minister on a short visit to Tripoli. The newspaper, however, leads with a story on crime in St Julians, saying there is a heavy load on the police there compared to other stations. 

The Malta Independent reports that the Prime Minister was greeted by Libyan Cabinet ministers at Tripoli. It also carries the comments made yesterday by the prime minister and the leader of the opposition in their political events.

In-Nazzjon quotes the prime minister saying that Joseph Muscat’s promises on power tariffs cannot be kept.

l-orizzont says Joseph Muscat gave ‘a guarantee’ that he will reduce financial burdens, particularly the power tariffs. The newspaper also highlights the situation of children near the poverty line in the south of Malta.

The overseas press

Bloomberg reports that the euro rose at the opening of the Asian markets this morning after the Italian daily La Stampa said the IMF was preparing a €600-billion-loan for Italy in case the debt crisis worsens. The euro also advanced against the yen as German Finance Minister Wolfgang Schaeuble urged fast-track treaty changes to tighten budget discipline. The Australian dollar advanced as optimism a solution may be found for the euro-area's debt woes boosted demand for higher-yielding currencies. New Zealand's dollar, also known as the kiwi, climbed after Prime Minister John Key was re-elected with his party's biggest mandate in 60 years.

La Stampa says the IMF money would give Italy's Prime Minister Mario Monti between12 and 18 months to implement policy changes without having to refinance the country's existing debt. Monti could draw on the money if his planned austerity measures fail to stop declines in Italian debt. Italy would pay an interest rate of between four and five percent on the loan, the newspaper said. The amount could vary between €400 billion and €600 billion.

French Budget Minister Valerie Pecresse has told Canal Plus TV that tougher budget rules were necessary for euro-member countries if they were to get more help from the European Central Bank in stemming the European sovereign debt crisis. She said countries needed to make a complete commitment to cutting their debt levels and increasing budgetary convergence. The remarks come three days after President Nicolas Sarkozy, German Chancellor Angela Merkel and Italian Prime Minister Mario Monti agreed to amend European treaties to impose greater fiscal discipline on countries sharing the euro.

Egypt's new prime minister-designate Kamal Ganzouri has said any parliamentary majority that emerges from Egyptian legislative elections may move to install a new government. In an interview on Egypt's Dream TV, Ganzouri said improving security and the economy were his priorities. He urged calm in the streets so he could make progress. The comments appeared at odds with remarks by a member of the ruling military council who said on Saturday the new parliament, to be elected in a vote that begins today, would not be able to dismiss the government or pick new ministers.

Al Ahram reports the Arab League has voted to impose economic sanctions against Syria in an attempt to force the government to stop its violent oppression of opposition protests. Arab states would freeze all commercial and financial dealings with Syria’s government and its banks.

A report in the semi-official Iranian FARS news agency quotes Iran’s Defence Minister Brigadier General Ahmad Vahidi saying that his country had up to 150,000 missiles pointed at Israel. Speaking to a crowd of 50,000 volunteer soldiers in Bushehr, the city where one of the country's nuclear power plants is located, Vahidi also warned against an offensive by the United States, saying it would meet a hard defensive line were it to attack Iran.

Pravda says Russia's prime minister and former president has officially accepted the United Russia party nomination as the country's next president. Vladimir Putin is almost certain to win the ballot in March 2012.

L’Avenir reports that international organisations have appealed for calm in the Democratic Republic of Congo ahead of today’s presidential election, after a run-up tainted by violent street clashes and delayed poll preparations. The UN, the EU, and the African Union called for restraint after at least three people were killed in clashes in the capital Kinshasa. The EU observer mission has accused police of denying President Joseph Kabila's main rival, Etienne Tshisekedi, his right to campaign in the capital after he was blocked by security forces at the airport yesterday.

Metro says the world of football is in mourning after the death of 42-year-old Wales manager Gary Speed, found hanged at his home. Most of the British nationals carry pictures and tributes on their front pages from the world of sport and other public figures. Former team-mates, managers and clubs have described Speed as the model professional as they come to terms with his death. Speed, who leaves a wife and two sons, also captained the national team and remains the country's most capped outfield player. A minute's applause was held ahead of Swansea's game against Aston Villa.