Italy

7:20am

Tue January 31, 2012
The Two-Way

Italian Authorities Call Off Search For Missing In Costa Shipwreck

Italian firefighters scuba divers approach the grounded cruise ship Costa Concordia off the Tuscan island of Giglio, Italy on Friday.
Pier Paolo Cito AP

Citing safety concerns, Italian officials said they were calling off the search for those still missing at the site of the Costa Concordia shipwreck.

The AP reports:

"Italy's Civil Protection agency said Tuesday that technical studies indicated that the deformed hull of the ship created too many safety concerns to continue the search. It said in a statement that relatives and diplomatic officials representing the countries of the missing have been informed of the decision.

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10:01pm

Mon January 30, 2012
Europe

In Italy, Art As A Window Into Modern Banking

Originally published on Wed May 23, 2012 9:05 am

Oil painting by Marinus van Reymerswaele.
Courtesy of Palazzo Strozzi

As Italy and much of Europe struggle with their finances, the city of Florence has staged an art exhibition looking at the critical — and controversial — role that financial institutions have played for centuries.

The recent Money and Beauty exhibit, held in the majestic 15th-century Palazzo Strozzi, illustrated how Florentine merchants got around the Catholic Church's ban on money-lending and bankrolled the Renaissance.

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11:53am

Fri January 27, 2012
The Two-Way

Fitch Downgrades Credit Of 6 E.U. Countries, Including Spain, Italy

Fitch Ratings announced it was cutting the ratings of Italy, Spain, Belgium, Slovenia, and Cyprus.

Italy and Spain, two of the biggest eurozone economies, suffered a two-notch drop. Italy went from A+ to A- and Spain went from A to AA-.

Bloomberg reports:

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5:52am

Fri January 27, 2012
The Two-Way

Costa Offers Italian Cruise Passengers $14K In Compensation

A coast guard boat passes the Costa Concordia, as the cruise liner lies aground in front of the harbor of Giglio Island.
AP

Costa Crociere SpA came to an agreement with several consumer groups and is offering 11,000 euros or $14,460 to each of the passengers of the cruise ship that ran aground off the Italian coast, earlier this month.

The Toronto Sun explains the money is for passengers who were uninjured and is to pay for "for items lost and any psychological damages." The cruise line will also refund the cost of the cruise and any travel costs that resulted from the crash.

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10:50am

Fri January 20, 2012
The Two-Way

Search Of Stricken Italian Cruise Ship Resumes After Third Delay

A coast guard boat passes the Costa Concordia, as the cruise liner lies aground in front of the harbor of Giglio Island.
Vincenzo Pinto AFP/Getty Images

Search and rescue operations at the wreck of the Costa Concordia have resumed, after being halted for a third time, due to choppy waters and the partially submerged vessel's tendency to shift on the rocks near Italy's coast.

BBC correspondent Luisa Baldini says the search has resumed, after being called off early Friday.

Here's a roundup of recent developments in the story:

From Italy, Sylvia Poggioli report for NPR's Newscast unit:

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