The Patrick administration is engineering a large-scale financial rescue of the Massachusetts Turnpike Authority that would allow the cash-strapped agency to refinance $800 million in debt to avoid potentially ruinous repayment terms.
The House, acting swiftly at the administration's request, gave initial approval yesterday to legislation that would allow the Turnpike Authority to use the state's higher credit rating to refinance its debt to lower its interest costs. The move means taxpayers would be responsible for the turnpike's debt if the agency defaults.
Source: http://www.boston.com/news/local/massachusetts/articles/2008/07/16/state_tries_to_rescue_pike_from_huge_debt/
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Plans to legalise prostitution for the 2010 football World Cup in South Africa have been criticised by religious groups and opposition parties.
The local authority in Durban wants legalised adult entertainment venues during the tournament.
But African Nazareth Democratic Movement (ANDM) president Thokozani Hlatshwayo said the proposal was "against the word of God".
Opposition parties fear that, if introduced, it could become permanent.Source: http://news.bbc.co.uk/2/hi/africa/7509357.stm
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