Spain's High-Speed Train Disaster: On the Scene

July 25 (Bloomberg) -- A rail crash in northwest Spain killed at least 78 people, the highest death toll on the country’s railroads since the 2004 Madrid bombings. Questions were raised about the train’s speed. The train carrying 218 passengers on the Madrid-to-Ferrol route derailed at 8:41 p.m. local time last night as it entered a bend on the outskirts of the city of Santiago de Compostela in the Galicia region, state-owned rail company Renfe said in an e-mailed statement. The line is part of the high-speed network that successive governments have made a symbol of Spain’s modernization. Security-camera footage of the accident broadcast on Spanish television showed the rear of the locomotive sliding off the rails as it took the curve and then disintegrating as it collided with a concrete wall alongside the track.
Summers: U.S. Policy Triumphed With Renminbi Value
41:13 - Former U.S. Treasury Secretary Larry Summers discusses why the impact of a possible contagion from ‘Grexit’ is unknown and U.S. policy as it pertains to China’s currency. He appears with Hans Nichols on Bloomberg Television’s “The Pulse.” (Source: Bloomberg)
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