Crash at Daytona Exposes Risks to Fans

The risks of racing extend beyond the drivers.

Fans can wind up in the danger zone, too.

A horrifying crash on the last lap of a race at Daytona International Speedway injured at least 30 fans Saturday and provided another stark reminder of what can happen when a car going nearly 200 mph is suddenly launched toward the spectator areas.

The victims were sprayed with large chunks of debris — including a tire — after rookie Kyle Larson's machine careened into the fencing that is designed to protect the massive grandstands lining NASCAR's most famous track.

"I love the sport," said Shannan Devine, who witnessed the carnage from her 19th-row seat, about 250 feet away. "But no one wants to get hurt over it."

The fencing served its primary purpose, catapulting what was left of Larson's car back onto the track. But it didn't keep potentially lethal shards from flying into the stands.

"There was absolute shock," Devine said. "People were saying, 'I can't believe it, I can't believe it. I've never seen this happen, I've never seen this happen. Did the car through the fence?' It was just shock and awe. Grown men were reaching out and grabbing someone, saying, 'Oh my gosh! Oh my gosh!' It was just disbelief, absolute disbelief."

From Daytona to Le Mans to a rural road in Ireland, auto racing spectators have long been too close to the action when parts start flying. The crash in the second-tier Nationwide race follows a long list of accidents that have left fans dead or injured.

The most tragic incident occurred during the 1955 24 Hours of Le Mans, when two cars collided near the main stands. The wreck sent debris hurtling into the crowd, while one of the cars flipped upside down and exploded in a giant fireball.

Eighty-three spectators and driver Pierre Levegh were killed, and 120 fans were injured.

The Daytona crash began as the field approached the checkered flag and leader Regan Smith attempted to block Brad Keselowski. That triggered a chain reaction, and rookie Kyle Larson hit the cars in front of him and went airborne into the fence.

The entire front end was sheared off Larson's car, and his burning engine wedged through a gaping hole in the fence. Chunks of debris from the car were thrown into the stands, including a tire that cleared the top of the fence and landed midway up the spectator section closest to the track.

"I thought the car went through the fence," Devine said. "I didn't know if there was a car on top of people. I didn't know what to think. I'm an emotional person. I immediately started to cry. It was very scary, absolutely scary. I love the speed of the sport. But it's so dangerous."

The fencing used to protect seating areas and prevent cars from hurtling out of tracks has long been part of the debate over how to improve safety.

Three-time Indianapolis 500 winner Dario Franchitti lost close friend Dan Wheldon at Las Vegas in the 2011 IndyCar season finale, when Wheldon's car catapulted into the fencing and his head struck a support post. Since his death, IndyCar drivers have called for studies on how to improve the safety barriers.

Franchitti renewed the pleas on Twitter after the Daytona crash, writing "it's time (at)Indycar (at)nascar other sanctioning bodies & promoters work on an alternative to catch fencing. There has to be a better solution."

Another fan who witnessed the crash said he's long worried that sizable gaps in the fencing increase the chances of debris getting through to the stands.

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Analysis: Italian election explained

Austerity-hit Italy chooses new leader

Austerity-hit Italy chooses new leader

Austerity-hit Italy chooses new leader

Austerity-hit Italy chooses new leader

STORY HIGHLIGHTS

• Silvio Berlusconi is campaigning to win his old job back for the fourth time


• The eurozone's third largest economy is hurting, with unemployment surpassing 11%


• Pier Luigi Bersani of the center-left Democratic Party is expected to narrowly win


• Italy's political system encourages the forming of alliances

(CNN) -- Little more than a year after he resigned in disgrace as prime minister, Silvio Berlusconi is campaigning to win his old job back -- for the fourth time.

Berlusconi, the septuagenarian playboy billionaire nicknamed "Il Cavaliere," has been trailing in polls behind his center-left rival, Per Luigi Bersani.

But the controversial media tycoon's rise in the polls in recent weeks, combined with widespread public disillusionment and the quirks of Italy's complex electoral system, means that nothing about the race is a foregone conclusion.

Why have the elections been called now?

Italian parliamentarians are elected for five-year terms, with the current one due to end in April. However in December, Berlusconi's People of Freedom Party (PdL) withdrew its support from the reformist government led by Mario Monti, saying it was pursuing policies that "were too German-centric." Monti subsequently resigned and the parliament was dissolved.

Berlusconi -- the country's longest serving post-war leader -- had resigned the prime ministerial office himself amidst a parliamentary revolt in November 2011. He left at a time of personal and national crisis, as Italy grappled with sovereign debt problems and Berlusconi faced criminal charges of tax fraud, for which he was subsequently convicted. He remains free pending an appeal. He was also embroiled in a scandal involving a young nightclub dancer - which led him to be charged with paying for sex with an underage prostitute.

MORE: From Venice to bunga bunga: Italy in coma

He was replaced by Monti, a respected economist and former European Commissioner, who was invited by Italy's President Giorgio Napolitano to lead a cabinet of unelected technocrats. Monti's government implemented a program of tax rises and austerity measures in an attempt to resolve Italy's economic crisis.

Who are the candidates?

The election is a four-horse race between political coalitions led by Bersani, Berlusconi, Monti, and the anti-establishment movement led by ex-comedian Beppe Grillo. Polls are banned within two weeks of election day, but the most recent ones had Bersani holding onto a slender lead over Berlusconi, followed by Grillo in distant third.

READ MORE: Will Monte Paschi banking scandal throw open Italy's election race?

The center-left alliance is dominated by the Democratic Party, led by Bersani. He is a former Minister of Economic Development in Romano Prodi's government from 2006-8 -- and has held a comfortable lead in polls, but that appears to be gradually being eroded by Berlusconi.

Italy's political system encourages the forming of alliances, and the Democratic Party has teamed with the more left-wing Left Ecology Freedom party.

The 61-year-old Bersani comes across as "bluff and homespun, and that's part of his appeal -- or not, depending on your point of view," said political analyst James Walston, department chair of international relations at the American University of Rome.

He described Bersani, a former communist, as a "revised apparatchik," saying the reform-minded socialist was paradoxically "far more of a free marketeer than even people on the right."

Bersani has vowed to continue with Monti's austerity measures and reforms, albeit with some adjustments, if he wins.

At second place in the polls is the center-right alliance led by Berlusconi's PdL, in coalition with the right-wing, anti-immigration Northern League.

Berlusconi has given conflicting signals as to whether he is running for the premiership, indicating that he would seek the job if his coalition won, but contradicting that on other occasions.

In a recent speech, he proposed himself as Economy and Industry Minister, and the PdL Secretary Angelino Alfano as prime minister.

Roberto Maroni, leader of the Northern League, has said the possibility of Berlusconi becoming prime minister is explicitly ruled out by the electoral pact between the parties, but the former premier has repeatedly said he plays to win, and observers believe he is unlikely to pass up the chance to lead the country again if the opportunity presents itself.

Berlusconi has been campaigning as a Milan court weighs his appeal against a tax fraud conviction, for which he was sentenced to four years in jail last year. The verdict will be delivered after the elections; however, under the Italian legal system, he is entitled to a further appeal in a higher court. Because the case dates to July 2006, the statute of limitations will expire this year, meaning there is a good chance none of the defendants will serve any prison time.

He is also facing charges in the prostitution case (and that he tried to pull strings to get her out of jail when she was accused of theft) -- and in a third case stands accused of revealing confidential court information relating to an investigation into a bank scandal in 2005.

Despite all this, he retains strong political support from his base.

"Italy is a very forgiving society, it's partly to do with Roman Catholicism," said Walston. "There's sort of a 'live and let live' idea."

Monti, the country's 69-year-old technocrat prime minister, who had never been a politician before he was appointed to lead the government, has entered the fray to lead a centrist coalition committed to continuing his reforms. The alliance includes Monti's Civic Choice for Monti, the Christian Democrats and a smaller centre-right party, Future and Freedom for Italy.

As a "senator for life," Monti is guaranteed a seat in the senate and does not need to run for election himself, but he is hitting the hustings on behalf of his party.

In a climate of widespread public disillusionment with politics, comedian and blogger Beppe Grillo is also making gains by capturing the protest vote with his Five Star Movement. Grillo has railed against big business and the corruption of Italy's political establishment, and holds broadly euro-skeptical and pro-environmental positions.

How will the election be conducted?

Italy has a bicameral legislature and a voting system which even many Italians say they find confusing.

Voters will be electing 315 members of the Senate, and 630 members of the Chamber of Deputies. Both houses hold the same powers, although the Senate is referred to as the upper house.

Under the country's closed-list proportional representation system, each party submits ranked lists of its candidates, and is awarded seats according to the proportion of votes won -- provided it passes a minimum threshold of support.

Seats in the Chamber of Deputies are on a national basis, while seats in the senate are allocated on a regional one.

The party with the most votes are awarded a premium of bonus seats to give them a working majority.

The prime minister needs the support of both houses to govern.

Who is likely to be the next prime minister?

On current polling, Bersani's bloc looks the likely victor in the Chamber of Deputies. But even if he maintains his lead in polls, he could fall short of winning the Senate, because of the rules distributing seats in that house on a regional basis.

Crucial to victory in the Senate is winning the region of Lombardy, the industrial powerhouse of the north of Italy which generates a fifth of the country's wealth and is a traditional support base for Berlusconi. Often compared to the U.S. state of Ohio for the "kingmaker" role it plays in elections, Lombardy has more Senate seats than any other region.

If no bloc succeeds in controlling both houses, the horse-trading begins in search of a broader coalition.

Walston said that a coalition government between the blocs led by Bersani and Monti seemed "almost inevitable," barring something "peculiar" happening in the final stages of the election campaign.

Berlusconi, he predicted, would "get enough votes to cause trouble."

What are the main issues?

There's only really one issue on the agenda at this election.

The eurozone's third largest economy is hurting, with unemployment surpassing 11% -- and hitting 37% for young people.

Voters are weighing the question of whether to continue taking Monti's bitter medicine of higher taxation and austerity measures, while a contentious property tax is also proving a subject of vexed debate.

Walston said the dilemma facing Italians was deciding between "who's going to look after the country better, or who's going to look after my pocket better."

He said it appeared voters held far greater confidence in the ability of Monti and Bersani to fix the economy, while those swayed by appeals to their own finances may be more likely to support Berlusconi.

But he said it appeared that few undecided voters had any faith in Berlusconi's ability to follow through on his pledges, including a recent promise to reverse the property tax.

What are the ramifications of the election for Europe and the wider world?

Improving the fortunes of the world's eighth largest economy is in the interests of Europe, and in turn the global economy.

Italy's woes have alarmed foreign investors. However, financial commentator Nicholas Spiro, managing director of consultancy Spiro Sovereign Strategy, says the European Central Bank's bond-buying program has gone a long way to mitigating investors' concerns about the instability of Italian politics.

Why is political instability so endemic to Italy?

Italy has had more than 60 governments since World War II -- in large part as a by-product of a system designed to prevent the rise of another dictator.

Parties can be formed and make their way on to the political main stage with relative ease -- as witnessed by the rise of Grillo's Five Star Movement, the protest party which was formed in 2009 but in local and regional elections has even outshone Berlusoni's party at times.

Others point to enduringly strong regional identities as part of the recipe for the country's political fluidity.

READ MORE: Italian Elections 2013: Fame di sapere (hunger for knowledge)

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Maldivain ex-leader exits Indian embassy: New Delhi

NEW DELHI: Former Maldives president Mohamed Nasheed left the Indian embassy in the capital Male on Saturday, an Indian official said, 10 days after he sought refuge in the mission in a bid to avoid arrest.

Nasheed's exit came after a Maldivian court earlier this week postponed his trial for abuse of power when he was in office and India sent an envoy to the nation of 330,000 Sunni Muslims to try and end the political standoff.

"He (Nasheed) entered India's mission on February 13th of his own volition and decided to leave on his own," Indian foreign ministry spokesman Syed Akbaruddin said in New Delhi.

Nasheed, 45, is accused of abusing his powers after he won the first free elections in 2008 in the Indian Ocean holiday destination. The pro-democracy campaigner was ousted last year following a mutiny by police and troops.

"He is not planning to go back (to the embassy). He has ended seeking refuge there," Nasheed's Maldivian Democratic Party spokeswoman Shauna Aminath told AFP.

Nasheed, a famed global warming activist, has condemned the charges of abuse of power against him as a "politically motivated sham".

The Maldivian court postponed the hearing scheduled for last Wednesday after police said they were unable to arrest the former president and bring him before the magistrate, according to Nasheed's party.

Presidential spokesman Masood Imad had confirmed the hearing had been cancelled but said that the case was still pending.

Nasheed's taking refuge at the Indian embassy in Male had strained relations between India and its tiny neighbour.

The Maldivian foreign ministry last weekend summoned Indian High Commissioner (ambassador) D.M. Mulay and accused India of allowing Nasheed to use its embassy for political activities.

India had appealed to its neighbour to guarantee "the integrity of the electoral process" before the presidential election set for September, but had strongly denied interfering in politics in the Maldives.

-AFP/fl

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Pentagon grounds F-35 fleet after engine crack found

Updated 9:03 PM ET

WASHINGTON The Pentagon on Friday grounded its fleet of F-35 fighter jets after discovering a cracked engine blade in one plane.

The problem was discovered during what the Pentagon called a routine inspection at Edwards Air Force Base, Calif., of an F-35A, the Air Force version of the sleek new plane. The Navy and the Marine Corps are buying other versions of the F-35, which is intended to replace older fighters like the Air Force F-16 and the Navy F/A-18.

All versions -- a total of 51 planes -- were grounded Friday pending a more in-depth evaluation of the problem discovered at Edwards. None of the planes have been fielded for combat operations; all are undergoing testing.

In a brief written statement, the Pentagon said it is too early to know the full impact of the newly discovered problem.

A watchdog group, the Project on Government Oversight, said the grounding is not likely to mean a significant delay in the effort to field the stealthy aircraft.

"The F-35 is a huge problem because of its growing, already unaffordable, cost and its gigantically disappointing performance," the group's Winslow Wheeler said. "That performance would be unacceptable even if the aircraft met its far-too-modest requirements, but it is not."

The F-35 is the Pentagon's most expensive weapons program at a total estimated cost of nearly $400 billion. The Pentagon envisions buying more than 2,400 F-35s, but some members of Congress are balking at the price tag.

Friday's suspension of flight operations will remain in effect until an investigation of the problem's root cause is determined.

The Pentagon said the engine in which the problem was discovered is being shipped to a Pratt & Whitney facility in Connecticut for more thorough evaluation.

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Cyberattacks Bring Attention to Security Reform

Recent accusations of a large-scale cyber crime effort by the Chinese government left many wondering what immediate steps the president and Congress are taking to prevent these attacks from happening again.

On Wednesday, the White House released the administration's Strategy on Mitigating the Theft of U.S. Trade Secrets as a follow-up to the president's executive order. The strategy did not outwardly mention China, but it implied U.S. government awareness of the problem.

"We are taking a whole of government approach to stop the theft of trade secrets by foreign competitors or foreign governments by any means -- cyber or otherwise," U.S. Intellectual Property Enforcement Coordinator Victoria Espinel said in a White House statement.

As of now, the administration's strategy is the first direct step in addressing cybersecurity, but in order for change to happen Congress needs to be involved. So far, the Cyber Intelligence Sharing and Protection Act (CISPA) is the most notable Congressional legislation addressing the problem, despite its past controversy.

Last April, CISPA was introduced by House Intelligence Committee Chairman Mike Rogers, R-Mich., and Rep. Dutch Ruppersberger, D-Md. The act would allow private companies with consumer information to voluntarily share those details with the NSA and the DOD in order to combat cyber attacks.

Peter Parks/AFP/Getty Images

The companies would be protected from any liabilities if the information was somehow mishandled. This portion of the act sounded alarm bells for CISPA's opponents, like the ACLU, which worried that this provision would incentivize companies to share individuals' information with disregard.

CISPA passed in the House of Representatives, despite a veto threat from the White House stemming from similar privacy concerns. The bill then died in the Senate.

This year, CISPA was reintroduced the day after the State of the Union address during which the president declared an executive order targeting similar security concerns from a government standpoint.

In contrast to CISPA, the executive order would be initiated on the end of the government, and federal agencies would share relevant information regarding threats with private industries, rather than asking businesses to supply data details. All information shared by the government would be unclassified.

At the core of both the executive order and CISPA, U.S. businesses and the government would be encouraged to work together to combat cyber threats. However, each option would clearly take a different route to collaboration. The difference seems minimal, but has been the subject of legislative debates between the president and Congress for almost a year, until now.

"My response to the president's executive order is very positive," Ruppersberger told ABC News. "[The president] brought up how important information sharing is [and] by addressing critical infrastructure, he took care of another hurdle that we do not have to deal with."

Addressing privacy roadblocks, CISPA backers said the sharing of private customer information with the government, as long as personal details are stripped, is not unprecedented.

"Think of what we do with HIPAA in the medical professions; [doctors do not need to know] the individual person, just the symptoms to diagnose a disease," Michigan Gov. John Engler testified at a House Intelligence Committee hearing in an attempt to put the problem into context.

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How troubled Italy fell into a coma

Austerity-hit Italy chooses new leader

Austerity-hit Italy chooses new leader

Austerity-hit Italy chooses new leader

Austerity-hit Italy chooses new leader

STORY HIGHLIGHTS

• Bill Emmott: "Good Italy and Bad Italy" represent spit personalities of troubled country


• In 1950s, Italy was Europe's "emerging economy" and a pioneering center for design


• Old demons, including corruption and bloated public pensions, nearly bankrupted Italy


• Today Italy's biggest problem is the country's refusal to take responsibility and change

Editor's note: Bill Emmott is a British journalist and was the editor of The Economist from 1993 to 2006. His book "Good Italy, Bad Italy" was published in English in 2012, and he is the narrator of "Girlfriend in a Coma," a documentary about Italy's current crisis.

(CNN) -- On my first visit to Italy, at the age of 18, I fell in love with the country and its amazing history almost at first sight, as I and my friends sailed across the lagoon on the ferry to Venice. When we returned and found our camper van had been emptied out by thieves, I felt a little less enamored, to say the least.

This was my first glimpse of the split personality of a country that is expressed nearly 40 years later in the title of my 2012 book, "Good Italy, Bad Italy," and is the theme of the new film I have just narrated for the Italian director Annalisa Piras, "Girlfriend in a Coma".

Yet what I didn't realize then, as a (fairly) innocent teenager, was quite how significant Italy's history is for the whole of the West.

Bill Emmott

The greatest case study, or cautionary tale, comes from Venice itself. In medieval times La Serenissima, as Venice is known, became the richest and most powerful city-state in the Mediterranean. It was run by a quasi-democratic "grand council", made up of the merchants who were making the city rich, an elite that was open to newcomers if they had new ideas and new energies.

But in the 14th century the elite decided to close its doors to newcomers, allowing in only those related by family to the old guard, and nationalizing trading rights. The decline of Venice began with that decision.

Italy today is like a huge re-run of that sad Venetian story. During the 1950s and 1960s, the country was Europe's own "emerging economy" of the period, enjoying the third fastest average annual GDP growth rate in the world during those decades, beaten only by Japan and South Korea. It was helped by the global move towards freer trade and by the early European Union, but also by its own then very dynamic society and economy.

New, entrepreneurial companies were formed, new ideas blossomed; Italy became a pioneering center for design, for cinema, and for fashion, and the migration of millions of workers from the poor south to the industrializing north provided the factories with labor at a competitive price.

But then old demons came back to haunt Italy. The sharp polarization, combined with fear, between left and right that was a legacy of the fascist period of Mussolini from 1917 to 1943, returned first in the form of a huge wave of strikes in the late 1960s and early 1970s, and then in a deadly form of political violence. Nearly 500 people died in shootings, bombings and other tragedies during the decade and a half from 1970 as extremists on both left and right fought a running battle.

As well, sadly, as taking part in the violence, governments responded by trying to buy social peace -- first by implementing a very restrictive labor law which had the effect of making the law courts the principal arbitrator in industrial disputes; and second by an explosion of public spending (and thus borrowing) chiefly on pensions and a national health system.

Public pensions became the main form of unemployment insurance, as unwanted workers were permitted to retire early and draw pensions. But public debt became the main albatross around Italy's neck as governments ran budget deficits that in 1975-95 averaged (yes, averaged) almost 10% of GDP each and every year. The result: a pioneering crisis of sovereign debt and a foretaste of the crises now roiling the eurozone, as Italy's debt load reached 120% of GDP in the early 1990s and sent the country into near bankruptcy.

That financial crisis, in the course of which the Italian lira was ejected from Europe's pre-euro exchange-rate system (along with Britain's pound sterling) coincided with a huge political crisis, as corruption investigations brought crashing down the parties that had dominated Italian politics for the past 40 years.

The crisis brought talk of a new start, a "second republic" (to succeed the first, formed with the postwar constitution in 1945-48) and even a renaissance. In the interim, governments led by so-called technocrats (a professor, a governor of the Bank of Italy, an ex-diplomat) were brought in to make reforms and give the country a much needed "reset" before normal politics would be resumed.

It didn't happen. Hence, 20 years later, Italy finds itself in yet another crisis, one that looks eerily similar. The country's sovereign debt is -- you guessed it -- 120% of GDP. A mix of financial crisis and scandals brought down the long-running government of the media billionaire Silvio Berlusconi, while also discrediting establishment politicians of all parties.

In November 2011 a technocrat, the economics professor and former European Commissioner Mario Monti, was brought in to stabilize the country's finances, make reforms and give the country a "reset" before normal politics commence again after the upcoming elections.

It is too soon to say that the "reset" -- or, to use a broader metaphor, the upgrading of Italy's cultural, political and economic software -- will fail again. But it can be said that progress has been slow and disappointing.

Prime Minister Monti succeeded in stabilizing the public finances, but at the cost of a deeper recession than in all other eurozone economies except Greece and Spain. Beyond that, however, no major reforms have been implemented -- so the justice system remains painfully slow, the labor laws still discourage hiring while leaving millions of young people on poorly paid temporary contracts, competition remains overly restricted, too many markets are over-regulated, meritocracy remains stunted, corruption remains rife, and the huge cost of politics and political privileges has been left unchanged.

These tasks all remain for whichever coalition succeeds in forming a government after the elections. They should, however, have been done during the previous 20 years. Some progress in liberalizing markets was made, but not enough to stop Italy's GDP growth rate during 2001-10 from being the 180th worst in the world, just ahead of Haiti's.

Why not? Resistance from entrenched interest groups has been strong. Berlusconi's entry into politics in 1994 was essentially designed to obstruct change, to preserve his quasi-monopolistic businesses, and to ensure the old political ways could continue. On the left, suspicion of capitalism has remained rife, trade union powers have been maintained more successfully than in Germany or even France, and the use of political patronage to build power networks and reward supporters has helped destroy meritocracy.

The big question, however, is why Italians have allowed this to happen. The answer in our film, "Girlfriend in a Coma", is taken from Italy's, and arguably Europe's, greatest ever poet: Dante Alighieri. In his "Divine Comedy" of the 14th century, the sin he condemned most vigorously was "ignavia," by which he meant sloth -- the failure to take responsibility, the failure to show moral courage and to change things.

That is the coma that filmmaker Annalisa Piras and I diagnose as the Italian condition: economic stagnation, yes, but also a failure of consciousness and responsibility, which is in effect a moral failure.

Umberto Eco, the philosopher and novelist, adds a further explanation in the film. Italians, he says, "do not have a sense of the state." They had and respected a very powerful state in Roman times but that collapsed. The only states that have successfully replaced it since then have been the city states of Venice, Florence and elsewhere, which produced great riches and even the Renaissance of art, science, humanism and culture of the 15th century, but never achieved a set of stable, respected, still-less national institutions.

To get Italy out of its coma, its second crisis of 20 years, new governments will have to work hard to fix that problem. To make sure they do so, Italians will need to shed their ignavia and to become more active and demanding -- not in their sectional or local interests, but in the national interest.

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ECB says banks to repay US$80.5b in ultra-cheap loans

FRANKFURT: The European Central Bank said on Friday that 356 eurozone banks will repay early 61.1 billion euros ($80.5 billion) of a second batch of ultra-cheap three-year loans made available to them a year ago in emergency liquidity measures.

Under the ECB's special long-term refinancing operations or LTROs, which it launched to avert a looming credit crunch in the single currency area, banks had the option of repaying any part of the money after just one year.

"Accordingly, on February 27 ... 61.1 billion will be repaid in the tender by 356 counter parties," the ECB said in a short statement.

The LTROs, injections of liquidity into the banking system with ultra-long maturities of three years, were launched in two batches -- 468 billion euros in December 2011 and 529 billion euros in February 2012.

At the time, they were widely credited with pulling Europe back from the brink of a dangerous credit crunch.

Both rounds of LTRO included provisions to allow early repayment after one year, if banks so chose, with the first repayment window opening on January 30, and the second on February 27. After that, repayments can continue on a weekly basis, depending on demand.

At the first repayment of the first batch on January 30, 278 banks repaid 137 billion euros.

- AFP/al

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Pistorius bail decision looms

STORY HIGHLIGHTS

• NEW: Bond decision expected soon for runner Oscar Pistorius


• He is accused of killing his model girlfriend, Reeva Steenkamp


• Pistorius has pledged to stay in South Africa and fight the charges


• The sprinter is considered a national hero in South Africa

Pretoria, South Africa (CNN) -- South African prosecutors pushed Friday to keep Oscar Pistorius behind bars, painting the double-amputee track star as a killer offering an improbable defense in the shooting death of his model girlfriend.

The decision by Chief Magistrate Desmond Nair whether to release Pistorius or keep him jailed pending trial is expected Friday afternoon. It comes after a four-day bail hearing that has been remarkable for not only its length but its allegations of miscues by a lead police investigator who himself faces attempted murder charges.

Read more: What's life like in south African prison?

Pistorius is accused of premeditated murder in the February 14 shooting death of Reeva Steenkamp, 29. Authorities and Pistorius' team agree that he killed Steenkamp, but Pistorius says he mistook her for an intruder.

Prosecutor Gerrie Nel told the judge in final arguments before a packed Pretoria courtroom that Pistorius doesn't deserve bail.

"He must realize that long-term imprisonment is almost guaranteed. He might think he'll be acquitted."

The prosecution had several notable missteps during the bail hearing, including the removal of the lead investigator, who had earlier acknowledged under questioning from defense attorney Barry Roux that police could have contaminated the crime scene and had failed to properly catalog evidence.

The South African Police Service pulled the investigator, Hilton Botha, from the case Thursday after prosecutors reinstated seven counts of attempted murder charges against him. Botha is accused of opening fire on a minibus full of people while allegedly drunk in 2011.

Read more: Nike's bullet ad with Pistorius backfires

Prosecutors allege that Pistorius, 26, killed his girlfriend after a heated argument in the early morning hours of Valentine's Day.

The sprinter, however, says he thought an intruder was hiding in a toilet room inside the bathroom of his Pretoria home. He says he fired into the room in a fit of terror before realizing Steenkamp was inside.

In full: Pistorius' affidavit to court

Prosecution plea

Nair questioned Nel over the prosecution's assertion that Pistorius was a flight risk.

What kind of life would he lead if he were to flee? the judge asked.

A life of freedom, the prosecutor said.

Ducking and diving every day with those prosthesis? Nair asked.

A life not in prison, Nel said.

The prosecutor implored the judge to deny Pistorius' bail request, saying courts cannot favor the famous or the disabled.

"We all know that a lot of important people were granted bail and they stayed in the country," Nel told the magistrate. "But lots of very important people have escaped."

Nel pointed to the case of WikiLeaks founder Julian Assange, who fled to the Ecuadorian Embassy in London to avoid extradition to Sweden, where he is wanted for questioning over sex assault allegations.

Assange's face was well-known, the prosecutor said, but "it didn't stop him fleeing arrest."

Roux said the track star needs regular medical treatment for his stumps and his prostheses require routine maintenance.

"Mr. Pistorius cannot go unnoticed through an airport due to his legs," he told the judge.

Pistorius, eyes red, appeared emotional and drained.

At one point, he sat with his eyes closed and shoulders shaking as tears rolled down his face. At other times, he stared straight ahead.

In arguments wrapping up during Thursday's session, the prosecutor said Pistorius' defense team has failed to explain why investigators found two cell phones and the gun believed to have been used in the shooting in front of the shower.

That goes to the prosecution claim that Steenkamp didn't merely get up to relieve herself in the middle of the night, but in fact had locked herself in the bathroom with her cell phone to protect herself from Pistorius.

Earlier in the hearing, Nel argued that evidence showed Pistorius intentionally targeted Steenkamp. Ballistic evidence showed he had to aim at the toilet to hit her, Nel said, and how the bullets traveled through the door suggested he was standing on his prosthetic legs, not his stumps as he claimed.

Pistorius said in his statement that when he shot through the door, he was feeling vulnerable to an intruder because he was not wearing his legs and had limited mobility.

Defense argument

During the bail hearing, being held in a dark, stuffy Pretoria courtroom, Roux hammered away at the credibility of Botha and the entire police investigation. He argued Thursday that the state's case had suffered a "monumental collapse."

He said police had missed a bullet where Steenkamp was shot and may have contaminated the crime scene by failing to wear protective foot covers.

Botha said investigators didn't wear the booties because they'd run out.

Under questioning from Roux, Botha said police didn't have evidence to specifically contradict Pistorius' story.

Then, Botha was gone.

Officials in the case learned Thursday of the charges against Botha, and the South African Police Service moved quickly to take him off the investigation.

While police Commissioner Riah Phiyega praised Botha's work on the case, she removed him in favor of the department's most senior detective.

Accusations against the investigator would be little more than a "speed bump" in the Pistorius case, Bulelwa Makeke, the spokeswoman for South Africa's National Prosecuting Authority, said before Botha was removed.

"Blade Runner"

Pistorius made history last year as the first disabled athlete to compete in the able-bodied London Games. A few weeks after the Olympics, he smashed a record to win the men's 400-meter in the 2012 Paralympic Games.

When Pistorius was 11 months old, his legs were amputated below the knees because he was missing the fibulae.

He runs on special carbon fiber blades, earning the nickname "Blade Runner."

The case has roiled South Africa, where Pistorius is considered a national hero.

Following his arrest on Valentine's Day, Pistorius put his career on hold and pulled out of future races. Sponsors Nike and Oakley suspended their contracts with the runner.

CNN iReport: What my son taught me about Oscar Pistorius

Robyn Curnow reported from Pretoria, and Chelsea J. Carter reported and wrote from Atlanta. CNN's Michael Pearson, Ben Brumfield, Kim Norgaard and Diane McCarthy contributed to this report.

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Georgia executes man lawyers claimed was mentally ill

JACKSON, Ga. A 38-year-old inmate convicted of killing two college students in 1995 was executed in Georgia on Thursday, apologizing to the families of both victims before being injected at a state prison.

Andrew Allen Cook was pronounced dead at 11:22 p.m., about 14 minutes after he was injected with the sedative pentobarbital. He was the first inmate to be executed since the state changed its procedure in July from a three-drug combination to a single dose.

With his last words, he apologized to the families of Mercer University students Grant Patrick Hendrickson, 22, and Michele Lee Cartagena, 19, who were shot several times as they sat in a car at Lake Juliette, which is about 75 miles south of Atlanta. He said what he did was senseless.

"I'm sorry," Cook said as he was strapped to a gurney. "I'm not going to ask you to forgive me. I can't even do it myself."

He also thanked his family for "their support, for being with me and I'm sorry I took so much from you all."

The Georgia Appeals Court on Wednesday temporarily stayed Cook's execution to consider a challenge to the state's lethal injection procedure. But the Georgia Supreme Court lifted the stay Thursday and all other appeals were exhausted.

Cook's lawyers have argued at various stages in their appeals of his death sentence that he suffered from mental illness and was being treated for depression up to the time of his death.

Mary Hendrickson, the mother of one of the victims, recently told television station WMAZ-TV in Macon she's been waiting 18 years for justice.

"I think that's what it was: the devil's work," she said. "When all that is going on, I was just thinking to myself, 'Well, the devil is not going to win. He's not going to win over my heart. He is not going to win."'

The single-drug injection began at about 11:08 p.m. Cook blinked his eyes a few times, and his eyes soon got heavy. His chest was heaving for about two or three minutes as his eyes closed. Not too long after, two doctors examined him and nodded and Carl Humphrey, warden of the state prison in Jackson, pronounced him dead.

Corrections officials said Thursday evening that Cook had received visits from family earlier in the day and ate the last meal he had requested -- steak, a baked potato, potato wedges, fried shrimp, lemon meringue pie and soda.

A jury sentenced Cook to death after he was convicted in the January 2, 1995 slayings at Lake Juliette. Cook wasn't charged until more than two years later. He confessed to his father, a Macon FBI agent who ended up testifying at his son's trial.

The Georgia Bureau of Investigation reached out to John Cook in December 1995 because they were interested in speaking to his son. When he called his then-22-year-old son to tell him the GBI wanted to talk to him, he had no idea the younger man was considered a suspect.

"I said, 'Andy, the GBI is looking for you concerning the Lake Juliette homicide. Do you know anything about it?"' John Cook testified at his son's trial in March 1998. "He said, 'Daddy, I can't tell you. You're one of them. ... You're a cop."'

Eventually, Andrew Cook told his father that he knew about the slayings, that he was there and that he knew who shot the couple, John Cook recalled.

"I just felt like the world was crashing in on me. But I felt maybe he was there and just saw what happened," he said. "I then asked, 'Did you shoot them?'

"After a pause on the phone, he said, 'Yes."'

As a law enforcement officer, John Cook said he was forced to call his supervisor and contacted the Monroe County sheriff.

At the trial, as he walked away from the stand, the distraught father mouthed "I'm sorry" to the victims' families who were sitting on the front row of the courtroom. Several members of both families acknowledged his apology.

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Oscar Pistorius Sobs as Bail Ruling Is Expected

The fourth and likely final day of the bail hearing for Oscar Pistorius, the Olympian accused of murdering his girlfriend Feb. 14, opened with arguments from the prosecution that the runner's version of events is improbable and the defense countering that Pistorius had no intent to kill the woman.

Pistorius, who gained global acclaim for racing at the 2012 London Olympics, shot his model-girlfriend through a closed bathroom. He says he killed Reeva Steenkamp accidentally, but prosecutors allege that he took a moment to put on his prosthetic legs, indicating that he thought out and planned to kill Steenkamp when he shot her three times through the bathroom door.

Pistorius sobbed today in court. Barry Roux, his defense attorney, said the prosecution has misinterpreted the assigning of intent, meaning that the runner's intent to shoot at a supposed intruder in his home cannot be transferred to someone else who was shot -- in this case, Steenkamp.

"He did not want to kill Reeva," Roux told the court.

PHOTOS: Paralympics Champion Charged in Killing

When Magistrate Desmond Nair, who has been overhearing the bail hearing, asked Roux what the charges should be if Pistorius intended to kill an intruder, the defense attorney responded that he should be charged with culpable homicide.

Culpable homicide is defined in South Africa as "the unlawful negligent killing of a human being."

Oscar Pistorius: Detective Facing Attempted Murder Charges Watch Video

Oscar Pistorius: Investigator Faces Attempted Murder Charges Watch Video

Oscar Pistorius's Bail Hearing: Prosecutors Argue Premeditated Murder Watch Video

Roux also made light of the prosecution's argument that Pistorius is a flight risk, saying that every time the double-amputee goes through airport security, it causes a commotion. He said that Pistorius' legs need constant maintenance and he needs medical attention for his stumps.

The prosecution argued today that the onus is on Pistorius to provide his version of events, and his version is improbable.

Prosecutor Gerrie Nel also spoke of Pistorius' fame and his disability, even relating him to Wikipedia founder Julian Assange, who is now confined to Ecuador's London Embassy, where he has been granted political asylum.
"[Assange's] facial features are as well known as Mr. Pistorius' prostheses," Nel said.

Nel argued that Pistorius' prostheses do not set him apart, stating that it's no different to any other feature, and the court cannot be seen to treat people with disabilities accused of a crime, or famous people accused of crime, any differently.

Pistorius has said that in the early hours of Feb. 14 he was closing his balcony doors when he heard a noise from the bathroom. Fearing an intruder, and without his prosthetic legs on, he grabbed a gun from under his bed and fired through the closed bathroom door, he told the court.

But prosecutors say that's implausible, that the gun's holster was found under the side of the bed where Steenkamp slept, and that Pistorius would have seen she wasn't there. Prosecutors also say the angle at which the shots were fired shows Pistorius was already wearing his prosthetics when he fired.

Meanwhile, Lt. General Vinesh Moonoo was named Thursday the new chief investigator to the murder case after the surprise revelation that the former head detective and the prosecution's key witness, Hilton Botha, was charged with seven counts of attempted murder in connection to a 2011 shooting. The charges against Botha amount to an significant oversight by the state, which could sway the court's opinion.

Prosecutors maintain that Pistorius was out to kill on the night of Valentine's Day, prompting him to fire four shots into the locked bathroom door that Steenkamp was behind.

Friends of the couple say they were happy, and there is no reason why Pistorius would intentionally hurt Steenkamp.

"If Oscar was to ask her to get married, she would have said yes," friend Kevin Lerena said. "That's how happy and joyful their relationship was."

Ampie Louw, Pistorius' trainer, spoke with reporters outside the courthouse today, saying that he hopes Pistorius gets bail and can start training again, but that he won't push it.

"I'm not the legal side of it. But I'm ready," he said. "We can start training Monday if he's out."

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