Catastrophic events in Japan cannot be excluded in the next hours because the situation at a nuclear plant there is out of control, the European Union's energy chief said Wednesday.
"The site is effectively out of control," Guenther Oettinger, commissioner for energy, told a European Parliament committee. "In the coming hours there could be further catastrophic events which could pose a threat to the lives of people on the island."
His remarks caused interest rates US treasuries to go up yesterday.
We will see how right or wrong he is. If he is wrong then he will have caused extra financial disturbance unnecessarily.
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