Five Steps to Fix Shadow Banking

International regulators did the world a service by reporting that shadow banking remains an enormous force in the global financial system. Firms in the sector had $ 67 trillion in assets last year, the Financial Stability Board has just reported. But given the importance of the lightly monitored companies, the regulators’ prescriptions seem cautious.

Shadow banking is lending outside the conventional banking system, done by firms such as money market mutual funds, hedge funds, and securities dealers. It’s far less regulated than lending by normal banks, which take insured deposits. Many economists and financial experts say shadow banking was responsible for triggering the global financial crisis of 2008-09.

Regulating it isn’t easy, for two very different reasons. One is that shadow banking can’t be shut down entirely because it does some real good. “Non-bank financial entities can … be sources of long-term and short-term credit to businesses and households,” the Financial Stability Board wrote in a report released on Nov. 18 (PDF). The second reason is that the sector has political muscle. “We’re already seeing a contest of wills” over attempts to tighten regulation, says Erik Gerding, a law professor at the University of Colorado, Boulder who specializes in banking regulation.

The board’s five-step plan to fix shadow banking, which was released in conjunction with the report on the sector’s size, didn’t exactly stick its neck out. The board is seeking comment on the plan and plans to publish final recommendations in September 2013. Here’s a boiled-down version:

1. Keep banks from being infected by problems in shadow banking. On this point, the board mostly just endorsed existing plans from the Basel Committee on Banking Supervision, which wants banks to keep thicker buffers of capital against potential losses on loans they make to shadow banking organizations.

2. Make money market mutual funds less vulnerable to runs. In the U.S., the new Financial Stability Oversight Council is continuing to press for making the funds let per-share values float in line with the value of the underlying securities, making them less rigid and breakable. The Financial Stability Board said funds should switch to floating net asset values “where workable”—a phrase that leaves room for funds to keep things as they are.

3. Put some teeth into the rules for other shadow banking organizations. The board lays out a long-term agenda for reducing risks, other than those posed by money market mutual funds. To make sure countries can’t simply ignore regulations they don’t like, the board said tougher policies should “eventually” become a “membership commitment subject to peer reviews.”

4. Regulate securitization. When it comes to bonds backed by assets such as credit-card receivables or mortgages, the board advocated greater disclosure and said countries should “converge” on the amount of risk that a securitizer must retain to make sure it has an incentive to sell only high-quality securities. But it didn’t give numerical targets.

5. Regulate securities lending and repo lending. Most of the recommendations on the businesses of loans backed by stock or bonds are standard-issue, such as making sure that the collateral posted is adequate. On the most controversial issue—the preferential treatment of repurchase agreements and securities loans in bankruptcy court, which has contributed to their explosive growth—the board said changes “may be viable theoretical options” but concluded, “they will not be pursued for now due to practical difficulties.”

Lena Komileva, chief economist of London-based G+ Economics, an investment advisory firm, described the balancing act regulators face. “Bringing shadow banking out of the shadows recognizes the systemic importance of non-bank finance for the health of the global economy,” she wrote in an e-mail. “But regulators need to apply a surgical scalpel not an ax, so that the benefit of avoiding another Lehman, AIG (AIG), or Reserve Primary Fund does not come at the cost of the long-term efficiency and productivity of the financial system.”

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Turbulence on Cuba-Italy flight leaves 30 bruised

ROME (AP) — An airliner flying from Havana to Milan abruptly plunged some 1,000 meters (3,300 feet) when it hit unusually strong turbulence over the Atlantic on Monday, terrifying passengers and leaving some 30 people aboard with bruises and scrapes, airline officials said.

The flight continued to Milan’s Malpensa airport after the plane’s captain determined that it suffered no structural damage and two passengers who are physicians found no serious injuries, Giulio Buzzi, head of the pilots division at Neos Air, told Sky TG24 TV.

The ANSA news agency quoted bruised passenger Edoardo De Lucchi as saying meals were being served when suddenly there was “10 seconds of terror.” He recounted how plates went flying and some passengers not wearing seatbelts bounced about.

Buzzi had said that the drop measured some 3,000 meters (10,000 feet) in a cloudless sky. But Milan daily’s Corriere della Sera’s web site, quoting Neos official Davide Martini, later reported that the plane first bounced up some 500 meters (1,650 feet), then dropped some 1,000 meters (3,300 feet) to some 500 meters (1,650 feet) below the original altitude.

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Shirtless photo a “joke,” says FBI agent who began Petraeus inquiry

WASHINGTON/NEW YORK (Reuters) – The FBI agent who began the investigation that led David Petraeus to resign as CIA director said that a shirtless photo he sent to a woman at the center of the probe was a “joke” sent to many friends, and was not meant to be sexual.

Frederick Humphries told the Seattle Times in an interview published Thursday that the photo in the unfolding adultery scandal that brought down Petraeus was sent to Tampa, Florida, socialite Jill Kelley in 2010.

Humphries, who has been identified in media reports on the scandal mainly as the “shirtless” FBI agent, was a “top-notch” operative, according to a prosecutor who worked with him on the “millennium bomber” case years ago.

Andrew Hamilton, now a senior deputy prosecutor for King County, Washington, said Humphries was assigned to the case partly because he spoke excellent French. Ahmed Ressam, who was convicted of plotting to bomb the Los Angeles International Airport on New Year’s Eve 1999, claimed to be from Quebec and spoke French.

“That’s the first time I met him, as a case agent,” Hamilton told Reuters. “We spent a lot of time together over the next couple years getting ready for trial, and I couldn’t have asked for more as a case agent. He was very, very thorough, and very honest. We always thought we were very lucky to have him.”

Five months ago, Kelley ignited the FBI investigation that led to Petraeus when she asked Humphries whether the bureau could look into harassing emails she had been receiving.

The investigation eventually revealed that the emails to Kelley were sent by Paula Broadwell, an Army reserve officer in military intelligence and co-author of a biography of Petraeus.

The FBI investigation revealed Broadwell’s affair with Petraeus, who cited the relationship when he resigned as CIA chief last week. The probe also ensnared General John Allen, the commander of NATO forces in Afghanistan, whom agents found had exchanged “flirtatious” emails with Kelley, law enforcement officials said.

(Editing by David Lindsey and Jim Loney)

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Justin Bieber dominates at American Music Awards

America proved its Bieber Fever was strong: The teen singer dominated the American Music Awards on Sunday night.

Bieber‘s wins included the show’s top award, artist of the year. His mom joined him onstage as he collected the trophy, beating out Rihanna, Maroon 5, Katy Perry and Drake.

“I wanted to thank you for always believing in me,” Bieber said, looking to his mom.

The 18-year-old also won the honor in 2010. He said it’s “hard growing up with everyone watching me” and asked that people continue to believe in him.

Bieber and Nicki Minaj performed together — and separately — at the AMAs, and were both multiple winners.

But another collaboration was the night’s most colorful performance: Korean rapper PSY and MC Hammer. Hammer joined the buzzed-about pop star for his viral hit “Gangnam Style.” PSY rocked traditional “Hammer” pants as they danced to his jam and to Hammer’s “Too Legit to Quit.”

Bieber won favorite pop/rock male artist in the first award handed out at Sunday’s show and gave a shout-out to those who didn’t think he would last on the music scene.

“I want to say this is for all the haters who thought I was just here for one or two years. I feel like I’m going to be here for a very long time,” he said.

He also won favorite pop/rock album for his platinum-selling third album, “Believe.” He gave a stripped down, acoustic performance of “As Long As You Love Me,” then transitioned to the dance-heavy “Beauty and a Beat,” where Minaj joined him onstage, grinding with the teen for a few seconds.

Minaj, who wore three different wigs and four outfits throughout the night, repeated her AMAs wins from last year, picking up trophies for favorite rap/hip-hop artist and album for “Pink Friday: Roman Reloaded.” She was in an all-white get-up, including fur coat and pink hair when she performed her new song “Freedom.” The scene was ghostly and snowy, as a choir — also in white — joined her onstage. One background singer stole the performance, belting semi-high notes as Minaj looked on.

As Bieber won his second award, he was kissed on the neck by Jenny McCarthy, who presented the award.

“Wow. I feel violated right now,” he said, laughing.

“I did grab his butt,” McCarthy said backstage. “I couldn’t help it. He was just so delicious. So little. I wanted to tear his head off and eat it.”

Bieber‘s red and black outfit seemed to be the night’s theme, as Taylor Swift and Usher wore similar ensembles.

Usher kicked off the three-hour show with green laser lights beaming onstage as he performed a medley of songs, including “Numb,” ”Climax” and “Can’t Stop, Won’t Stop,” which featured a smoky floor and a number of backup dancers, as Usher jammed in all black, with the exception of his red shoes. He won favorite soul/R&B male artist.

Swift won her fifth consecutive award for favorite country female artist.

“This is unreal. I want to thank the fans. You guys are the ones who voted on this,” she said.

Swift gave a masquerade-themed performance of the pop song “I Knew You Were Trouble.” She sang onstage in a light dress while dancers wore mostly black. But then she changed into a red corset and black skirt, matching their dark mood. She even danced and sang on the floor as lights flickered throughout the performance.

Dick Clark, who created the AMAs, was remembered by Ryan Seacrest and an upbeat performance by Stevie Wonder.

“What a producer he was,” said Seacrest, as Wonder sang his hits, including “My Cherie Amour.”

Carly Rae Jepsen, who performed early in the night, won favorite new artist.

“I am floored. Wow,” she said, thanking Bieber and his manager, Scooter Braun.

Party girl Ke$ ha was glammed up on the red carpet, rocking long, flowy blonde hair and a light pink dress. She switched to her normal attire when she performed her hit single “Die Young.” It was tribal, with shirtless dancers in skin-tight pants, silver hair and skeleton-painted faces, who also played the drums. Ke$ ha was pants-less, rocking knee-high boots and rolling on the floor as she finished up the song.

Minaj and Christina Aguilera were blonde bombshells, too: Minaj’s hair was busy and full of volume and she sported a neon strapless gown to accept her first award. Aguilera wore a blonde bob in a purple dress that matched her eyeshadow.

Aguilera performed a medley of material from her new album and joined Pitbull onstage.

Kelly Clarkson also hit the stage, making a nod to her “American Idol” roots with a number on her dress and three judges looking on as she sang “Miss Independent.” Then she went into “Since U Been Gone,” ”Stronger” and “Catch My Breath.” It’s worth noting that “Idol” judge Randy Jackson introduced Clarkson, the first-ever winner of the show. He also advised people to donate through Red Cross for Superstorm Sandy victims.

Fellow “Idol” winner Carrie Underwood won best favorite country album and performed, hitting the right notes while singing “Two Black Cadillacs.” She talked about singing competition shows backstage.

“These people that go on these shows are so talented, you know? And I would love to see if so many of the other artists that are out there today would go back and try out for these shows, because they might get their behinds kicked by some of the contestants,” she said.

Luke Bryan won favorite country male artist and Lady Antebellum favorite country group.

American Music Awards nominees were selected based on sales and airplay, and fans chose the winners by voting online. At this award show, even the stars were fans: Pink said on the red carpet that she’d like to collaborate with Lauryn Hill. Cyndi Lauper said her musical playlist includes Pink and Minaj. Boy band The Wanted said they were excited to see PSY and Colbie Caillat wanted to watch No Doubt.

“What makes the American Music Awards special is the fans choose the winning artists,” said Chester Bennington of Linkin Park, who won favorite alternative rock artist and performed “Burn It Down,” as Brandy sang along and Gwen Stefani, Usher and Phillip Phillips bobbed their heads.

David Guetta won the show’s first-ever electronic dance music award. Non-televised awards went to Katy Perry for pop/rock female artist, Beyonce for soul/R&B female artist, Adele for adult contemporary artist and Shakira for Latin artist.

Along with Rihanna, Minaj was the top nominee with four nominations.

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AP Entertainment Writer Sandy Cohen contributed to this report from Los Angeles.

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Follow Mesfin Fekadu on Twitter at http://twitter.com/MusicMesfin

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Online:

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Doping-Four year bans proposed under new WADA Code

Nov 18 (Reuters) – Athletes guilty of serious doping offenses will be suspended for four years from 2015 under proposals being considered by the World Anti-Doping Agency (WADA), but there are no plans for a specific rule to ban offenders from the Olympics.

Currently, athletes found guilty of a first major doping offense are handed a two-year ban with any subsequent positive test incurring a life-ban.

The longer ban would be introduced for offenses that include the use of anabolic steroids, human growth hormone, masking agents and trafficking, according to a second draft of the 2015 WADA code which was reviewed over the weekend.

“It is clear … there is a strong desire in the world of sport, from governments and within the anti-doping community to strengthen the sanction articles in the code,” WADA President John Fahey said in a statement.

“This second draft has done that, doubling the length of suspension for serious offenders and widening the scope for anti-doping organizations to impose lifetime bans.”

The draft does not, however, consider a former International Olympic Committee (IOC) rule regarding Olympic participation, which was ruled in non-compliance with the WADA Code in 2011 by sport’s highest court, the Court of Arbitration for Sport (CAS).

The IOC rule, introduced in 2008, banned athletes from participating at the next Olympic Games if they had been suspended for six months or longer.

After the rule was ruled non-compliant, Britain was forced to overturn lifetime Olympic bans on their drug cheats.

“The rational is if more four-year sanctions are delivered, then there won’t be any need for (the IOC rule) because the athletes will be missing the next Olympics,” WADA spokesman Terence O’Rorke said by telephone from Montreal.

The new WADA Code draft also includes a proposal that to be prohibited, substances or methods must be performance enhancing, contrary to the spirit of sport or contrary to the health of athletes.

The proposed code will undergo further review between now and March 2013, when it will be presented to the WADA Foundation Board before a final draft is prepared for ratification at the world anti-doping conference in Johannesburg next November.

“Athletes must know that there is a heavy price to pay for intentional doping,” Fahey said. “I am confident this draft will deliver that message loud and clear.”

WADA also said its funding would be frozen for a second successive year at approximately $ 28 million in 2013.

“This freeze is not ideal for the fight against doping in sport,” Fahey said. “It is widely accepted that doping is a major issue no longer restricted to the sporting world, and that it must be addressed by society as a whole.” (Reporting by Gene Cherry in Salvo, North Carolina, editing by Nick Mulvenney)

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PM targets ‘time-wasting’ appeals

18 November 2012 Last updated at 21:55 ET

The right to legally challenge government policies will be limited to help bolster the economy, David Cameron is expected to say later.

Opponents will have less time to apply for judicial review, face higher fees and will have their chances of appealing halved.

The minister will tell business leaders this is so “people think twice about time-wasting” to delay developments.

He will call for wartime thinking when “rules were circumvented”.

Wartime spirit

In a speech to the CBI in London on Monday, Mr Cameron will say the country is in the “economic equivalent of war” and needs the “same spirit.”

He will argue for less bureaucracy as the emphasis is put on the pursuit of economic growth.

The prime minister is expected to say the legal right to a judicial review of decisions, including major infrastructure projects, will be scaled back, insisting: “We urgently need to get a grip on this”.

It is unclear yet how much the fees would rise by for review applications or how far the three-month time limit for applications might be cut.

Continue reading the main story

When this country was at war in the 40s, Whitehall underwent a revolution”

End Quote David Cameron

But he will add that “instead of giving hopeless cases up to four bites of the cherry to appeal a decision, we will halve that to two.”

Downing Street figures show more than 11,000 applications for judicial review were made in 2011, compared to just 160 in 1975. Around one in six applications were granted.

He is expected to accept the government is “too slow in getting stuff done,” amid concern about interested parties and that civil servants in Whitehall must appreciate delays are felt in “businesses going bust, jobs being lost” and “livelihoods being destroyed.”

He will draw an analogy with how the country responded to fighting Hitler.

“When this country was at war in the 40s, Whitehall underwent a revolution.

“Normal rules were circumvented. Convention was thrown out. As one historian put it, everything was thrown at ‘the overriding purpose’ of beating Hitler.

“Well, this country is in the economic equivalent of war today – and we need the same spirit. We need to forget about crossing every ‘t’ and dotting every ‘i’ – and we need to throw everything we’ve got at winning in this global race.”

Earlier this year the government published a new planning framework designed to streamline planning.

But a draft version of the framework was amended, amid fears from countryside groups that swathes of green belt land were being put at risk.

Elsewhere at the conference Labour leader Ed Miliband is also due to make a speech in which he will warn Britain is “sleepwalking” into leaving the European Union, a move which could undermine the UK’s economy and leave it “voiceless and powerless”.

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Rebels in Congo reach door of Goma

GOMA, Congo (AP) — A Rwandan-backed rebel group advanced to within 3 kilometers (1.8 miles) of Goma, a crucial provincial capital in eastern Congo, marking the first time that rebels have come this close since 2008.

Congolese army spokesman Col. Olivier Hamuli said the fighting has been going on since 6 a.m. Sunday and the front line has moved to just a few kilometers (miles) outside the city. After more than nine hours of violent clashes the two sides took a break, with M23 rebels establishing a checkpoint just 100 meters (yards) away from one held by the military in the village of Munigi, exactly 3 kilometers (1.8 miles) outside the Goma city line.

Contacted by telephone on the front line, M23 rebel spokesman Col. Vianney Kazarama said the group will spend the night in Goma.

“We are about to take the town. We will spend the night in Goma tonight,” said Kazarama. “We are confident that we can take Goma and then our next step will be to take Bukavu,” he said mentioning the capital of the next province to the south.

The M23 rebel group is made up of soldiers from a now-defunct rebel army, the National Congress for the Defense of the People, or CNDP, a group made-up primarily of fighters from the Tutsi ethnic group, the ethnicity that was targeted in Rwanda‘s 1994 genocide. In 2008, the CNDP led by Rwandan commando Gen. Laurent Nkunda marched his soldiers to the doorstep of Goma, abruptly stopping just before taking the city.

In the negotiations that followed and which culminated in a March 23, 2009 peace deal, the CNDP agreed to disband and their fighters joined the national army of Congo. They did not pick up their arms again until this spring, when hundreds of ex-CNDP fighters defected from the army in April, claiming that the Congolese government had failed to uphold their end of the 2009 agreement.

Reports, including one by the United Nations Group of Experts, have shown that M23 is actively being backed by Rwanda and the new rebellion is likely linked to the fight to control Congo’s rich mineral wealth.

The latest fighting broke out Thursday and led to the deaths of 151 rebels and two soldiers. On Saturday U.N. attack helicopters targeted M23 positions in eastern Congo.

Also on Saturday, United Nations Secretary-General Ban Ki-Moon had called Rwandan President Paul Kagame “to request that he use his influence on the M23 to help calm the situation and restrain M23 from continuing their attack,” according to peacekeeping chief Herve Ladsous who spoke at the U.N. headquarters in New York on Saturday.

North Kivu governor Julien Paluku said Saturday that the Congolese army had earlier retreated from Kibumba, which is 30 kilometers (19 miles) north of Goma, after thousands of Rwandans, who he says were backing the rebels, attacked early Saturday.

“Rwandan forces bombarded our positions in Kibumba since early this morning and an estimated 3,500 crossed the border to attack us,” he said Saturday.

In downtown Goma, panicked residents had come out to try to get more information on what was happening. A 45-year-old mother of five said that she has nowhere to go.

“I don’t really know what is happening, I’ve seen soldiers and tanks in the streets and that scares me,” said Imaculee Kahindo. Asked if she planned to leave the city, she said: “What can we do? I will probably hide in my house with my children.”

Hamuli, the spokesman for the Congolese army, denied reports that soldiers were fleeing.

In 2008 as Nkunda’s CNDP rebels amassed at the gates of Goma, reporters inside the city were able to see Congolese soldiers running in the opposite direction, after having abandoned their posts. The Congolese army is notoriously dysfunctional with soldiers paid only small amounts, making it difficult to secure their loyalties during heavy fighting.

“We are fighting 3 kilometers from Goma, just past the airport. And our troops are strong enough to resist the rebels,” said Hamuli. “We won’t let the M23 march into our town,” he said. Asked if his troops were fleeing, he added: “These are false rumors. We are not going anywhere.”

U.N. peacekeeping chief Ladsous said that the rebels were very well-equipped, including with night vision equipment allowing them to fight at night.

Reports by United Nations experts have accused Rwanda, as well as Uganda, of supporting the rebels. Both countries strongly deny any involvement and Uganda said if the charges continue it will pull its peacekeeping troops out of Somalia, where they are playing an important role in pushing out the Islamist extremist rebels.

The U.N. Security Council called for an immediate stop to the violence following a two-hour, closed-door emergency meeting. The council said it would add sanctions against M23 rebels and demanded that rebels immediately stop their advance toward the provincial capital of Goma.

“We must stop the M23″ because Goma’s fall “would, inevitably, turn into a humanitarian crisis,” said France‘s U.N. Ambassador, Gerard Araud. He added that U.N. officials would decide in the coming days which M23 leaders to target for additional sanctions.

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Associated Press writer Maria Sanminiatelli at the United Nations and Rukmini Callimachi in Dakar, Senegal, contributed to this report.

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Apple, Samsung allowed to add products in U.S. patent lawsuit

(Reuters) – A U.S. judge allowed Samsung Electronics Co Ltd to pursue claims the iPhone5 infringes its patents on Thursday, while also allowing Apple Inc to add claims that the Samsung Galaxy Note, Galaxy S III and the Jelly Bean operating system violate its patents.

The ruling by U.S. Magistrate Judge Paul Grewal in San Jose, California, was the latest development in a continuing legal war by Apple against manufacturers like Samsung whose products use Google Inc’s Android software.

Representatives for both Apple and Samsung declined comment.

The case is one of two patent infringement lawsuits pending in the U.S. District Court in San Jose by Apple against Samsung. An earlier lawsuit by Apple that related to different patents resulted in a $ 1.05 billion jury verdict against Samsung on August 24.

Apple filed the second lawsuit in February, alleging that various Samsung smartphone and tablet products including the Galaxy Nexus infringed eight of its patents.

Samsung denied infringement and filed a cross-complaint alleging that Apple’s iPhone and iPad infringed eight of its patents.

U.S. District Judge Lucy Koh issued a preliminary injunction against pretrial sales of the Nexus in June. But the U.S. Court of Appeals for the Federal Circuit overturned the sales ban on October 11.

Following the debut of the iPhone on September 21, Samsung sought to add it as an Apple product that infringed its patents. Apple moved likewise to add the Samsung Galaxy Note 10.1, Samsung Galaxy S III and the Jelly Bean operating system in connection with the Galaxy Nexus.

In his ruling Thursday, Grewal said Samsung acted with “reasonable diligence” in asking the court to allow it to add the iPhone 5 to the case.

Apple did not oppose adding the iPhone5. Nevertheless, Grewal warned Apple to “think twice before opposing similar amendments reflecting other newly released products — e.g. the iPad 4 and iPad mini — that Samsung may propose in the near future.”

The case is Apple Inc v. Samsung Electronics Co., Ltd., et al., U.S. District Court, Northern District of California, 12-cv-00630.

(Reporting By Nate Raymond in New York; Editing by Richard Pullin)

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Stephen Colbert joins US presidents at wax museum

WASHINGTON (AP) — Stephen Colbert is taking his place among the presidents at the Madame Tussauds wax museum in Washington and will be featured in a new media gallery.

Colbert visited the museum Friday to unveil a wax figure created to represent him. The museum says Colbert donated his own clothes to dress the figure in a suit, tie, cuff links and lapel pin. Colbert wore an identical outfit.

The new figure will be the centerpiece of a new media gallery with a replica of “The Colbert Report” set where guests can sit next to Colbert’s figure behind his fake news desk.

Designers from Madame Tussauds went to Colbert’s New York studio in June to take more than 250 measurements and photographs of the Comedy Central star to create the wax figure.

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Irish rally for government action on abortion

DUBLIN (Reuters) – At least 5,000 people marched to the offices of Ireland‘s socially conservative prime minister on Saturday to call for clearer guidelines on abortion following the death of a woman denied a termination.

It was the largest of a wave of protests across Ireland in recent days in response to the death of 31-year old Indian woman Savita Halappanavar who died of septicaemia following a miscarriage 17 weeks into her pregnancy.

The Irish health authority (HSE) has launched an inquiry into the death, which has reopened a decades-long debate over whether the government should legislate to explicitly allow abortion when the health of a mother is at risk.

Activists in the overwhelmingly Catholic country, which has some of the world’s most restrictive laws on abortion, say the refusal by doctors to terminate the pregnancy earlier may have contributed to Halappanavar‘s death.

“A vibrant, healthy woman starting her family life has died needlessly … because of the failure of successive governments to deal with this issue,” independent member of parliament Clare Daly told the crowd, which responded with chants of “shame.”

Irish law does not specify exactly when the threat to the life or health of the mother is high enough to justify a termination, leaving doctors to decide. Critics say this means doctors’ personal beliefs can play a role.

Despite a dramatic waning of the influence of the Catholic Church, which dominated politics in Ireland until the 1980s, successive governments have been loath to legislate on an issue they fear could alienate conservative voters.

Prime Minister Enda Kenny, whose ruling Fine Gael party made an election pledge not to introduce new laws allowing abortion, on Friday said he would not be rushed into a decision on the issue.

Halappanavar was admitted to hospital in severe pain on October 21 and asked for a termination after doctors told her the baby would not survive, according to her husband Praveen.

The foetus was surgically removed when its heartbeat stopped days later, but her family believes the delay contributed to the blood poisoning that killed Halappanavar on October 28.

“I just feel outrage,” said Mary Sheehan, a midwife in her 50s, who took part in the march with a sign that read “Vatican Republic killed Savita. “I want the message to out her parents that the Irish people are demanding change.”

The crowd also targeted the government’s junior coalition partner, the Labour Party, which is more socially liberal, for not doing more to force change on the issue, chanting “shame on Labour.”

(Reporting by Conor Humphries; editing by Jason Webb)

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