NATO Chief Wants More Military Cooperation With EU

By: Associated Press
By: Associated Press

NATO's secretary general says the U.S.-led military alliance and the European Union must cooperate more because of the uncertainty about what Russia may do next.

Anders Fogh Rasmussen is in Luxembourg today to brief EU defense ministers on what NATO is doing to counteract what Western countries call a Russian campaign of pressure and intimidation against Ukraine.

Rasmussen says NATO plans a three-fold response: "reinforced defense plans, enhanced exercises and appropriate deployment" to reassure NATO member states nearest Russia.

Asked if NATO could create military bases in its Eastern European members, Rasmussen says it's too early to go into details. He says, "but no one should doubt our determination to ensure effective defense protection of all allies."

MALAYSIA-PLANE

UPDATE: Deep water thwarts robot sub's first search for jet

PERTH, Australia (AP) - The robotic submarine hunting for the missing Malaysian jet has had its first mission cut short.

The U.S. Navy and search coordinators say a built-in safety feature aborted what was supposed to have been a 16-hour mission to create a sonar map of the ocean floor after only six hours. The Bluefin 21 is programmed to hover 100 feet above the seabed, creating a three-dimensional sonar map. But the sub entered an area that was deeper than its maximum depth of 15,000 feet and automatically headed back to the surface.

Officials say it was not damaged.

The Navy says the data the Bluefin managed to collect has been analyzed and shows no sign of the missing plane.

Crews are shifting the Bluefin's search area away from the deepest water and hope to send it back on another mission later today.

Meanwhile, a sample from an oil slick about 3 and a-half miles from the area where the last underwater sounds were detected is being analyzed. Search officials say it does not appear to be from any of the ships in the area, but caution against jumping to conclusions about its source.

YELLEN-BANKS

NEW: Yellen says Fed examining additional bank rules

WASHINGTON (AP) - Federal Reserve Chair Janet Yellen says recent initiatives by the Fed and other regulators to help banks make it through periods of financial stress are important, but they may still need to be strengthened.

Yellen believes current rules governing how much capital banks must hold in case of losses do not address all threats. She said that the Federal Reserve staff is actively considering what additional measures may be needed.

Bank regulators need to focus on this area, Yellen says, since bank runs generated at shaky firms were the primary engine that triggered the 2008 financial crisis.

Yellen's comments Tuesday came in an address delivered by video to a financial markets conference sponsored by the Federal Reserve's regional bank in Atlanta.


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