Man's cancer fears after hospital bungle

A HOSPITAL filing error left a Gold Coast man waiting months for a biopsy that would never happen, while cancer spread through his body affecting his life expectancy and hope of recovery.

An investigation by the Health Quality and Complaints Commission found Gold Coast Hospital made a ``major oversight'' in August 2011 when Surfers Paradise man Mitch Rosehart was referred by a urologist for an immediate biopsy after finding a suspicious lump in his prostate.

Although deemed a priority one case, the pensioner waited three months for the procedure that never eventuated because the biopsy booking request had been accidentally filed in his patient folder rather than being dealt with.

In November 2011, Mr Rosehart, now 59, had a CT scan for a separate medical issue in which it was discovered the cancer had spread to his bones, chest, neck and spine, giving him little hope of recovery.

``I went straight to the emergency department, an oncologist saw me and said the cancer had spread,'' said Mr Rosehart.

``He made some phone calls to follow up on the biopsy and came back and said there's been a major stuff-up, the system has let you down, you're not even booked in.

``I was terrified that because of a major hospital error I was now in a life-threatening situation.''

An independent adviser in the HQCC investigation found the three-month delay significantly affected Mr Rosehart's life expectancy and chance of recovery.

``Given the extent of the disease when diagnosed in November 2011, it is possible that an earlier investigation/diagnosis may have changed your outcome,'' read the report.

``The delay in the investigation and subsequent diagnosis of your condition was a major oversight by the hospital.''

Mr Rosehart is now on hormone therapy to slow the cancer but lives in constant pain and is devastated he cannot give his younger partner a child.

``The hormone therapy has destroyed me as a man,'' he said.

``I'm suffering from symptoms similar to menopause. Because the cancer is in my spine there's a high chance I could become paralysed. I'm terrified of that. I've told the doctors directly that  I don't want to know what my life expectancy is, I'd just prefer to go in my sleep  one night.''

The disabled pensioner said he now spent most of his $270 a week pension on alternative medicine hoping to save himself.

He can no longer afford his one-bedroom unit and will be homeless next month, having been on the Housing Commission waiting list for more than three years.

``There's no amount of money that will compensate me, I'd prefer to see my grandchildren grow up.''

Gold Coast Health Acting Executive Director of Medical Services, Dr Robert Pegram, said a Human Error and Patient Safety investigation was launched after the bungle and several recommendations had been implemented to ensure the mistake was not repeated.

Hospital executives have arranged to meet  Mr Rosehart this week to discuss the situation.

``Gold Coast Health regrets any additional stress that was  caused to the patient and their family as a result of the biopsy not being initially booked,'' Dr Pegram said.

View the original article here

Euro Unimpressed by Cyprus Deal as Capital Flight Fears Linger

The Euro has shed earlier gains and now trades little changed after Cyprus and the EU agreed to a bailout deal as capital flight fears continue to linger.

Talking Points

Euro Yields Tepid Response to Cyprus Bailout Deal as Capital Flight Fears Japanese Yen Declined as Stocks Rose in Asia, Denting Safe-Haven Demand The major currencies are little changed in overnight trade. The Japanese Yen is broadly underperforming as Asian stocks advance, sapping demand for the regional haven currency. The MSCI Asia Pacific benchmark equity index has added 0.9 percent after Cyprus and the so-called “troika” (EU/ECB/IMF) agreed to measures paving the way for launch of the country’s bailout program. The Euro spiked higher as the news of the deal emerged but the single currency has since retreated as worries about the impact of the Cyprus fiasco on depositor confidence elsewhere in single currency bloc continue to swirl.

The package of measures emerging out of the weekend’s negotiations focuses most specifically on Laiki Bank, Cyprus’ second-largest lender. The bank will be split, with unsecured deposits (all those over €100,000) transferred to a so-called “bad bank” and eventually wound up. Losses to unsecured depositors from this move are being estimated at 30-40 percent. Secured deposits and performing assets will be moved to Bank of Cyprus. This process is expected to raise €4.2 billion. The Cypriot government will further use privatization and taxation to generate additional funding to move toward unlocking €10 billion in EU aid, a process expected to conclude by mid-April.

On balance, investors’ lack of enthusiasm for the bailout seems reasonable. The critical issue remains that of precedent for larger Eurozone countries, and the way in which the Cyprus situation has been managed does not seem to inspire a great deal of confidence. Depositors in countries with similarly sickly banking sectors (notably Spain) are unlikely to be greatly encouraged by the prospect of losing close to a third of their deposits over €100k with the EU’s blessing if trouble were to arise. Cyprus’ introduction of capital controls to prevent a bank run when lending institutions reopen for business, again with approval from Brussels, is unlikely to sit well also.

This raises the most important question of all: why should a depositor in Spain or a country similarly vulnerable to a banking crisis expect to be left unscathed if a Cyprus-like calamity were to befall them. If such an expectation is deemed unreasonable in light of today’s events, the depositor in question may well opt not to keep money in the Eurozone altogether, and he/she may not be alone. This leaves the markets waiting to see if a mass exodus of capital does indeed occur as the region digests the latest news-flow, for then the worst-case scenario will be upon the Eurozone whether or not Cyprus receives its aid.

Asia Session:

Hometrack Housing Survey (MoM) (MAR)

Hometrack Housing Survey (YoY) (MAR)

Euro Session:

Italian Consumer Confidence Index (MAR)

BBA Loans for House Purchase (FEB)

Italy to Sell 2014 Bonds, 2018-23 I/L Bonds

Critical Levels:

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

View the original article here

Crude Oil, Gold Sink as Eurozone Fears Spark Risk Aversion

Crude oil and gold prices are under pressure as Eurozone stability jitters drive market-wide risk aversion and encourage safe-haven flows into the US Dollar.

Talking Points

Crude Oil, Copper Lower as Eurozone Crisis Fears Drive Risk Aversion Gold and Silver Under Pressure as US Dollar Gains on Safe-Haven Flows Commodities are facing broad-based selling pressure as risk aversion grips financial markets. The catalyst for the selloff seems to be found in the Eurozone, where a sharp widening in the spreads between Italian and Spanish 10-year bond yields and their benchmark German counterparts points to swelling sovereign risk. Broadly speaking, the tense atmosphere seems to reflect unease with the implications of the Cyprus bailout deal, as expected.

Sentiment-sensitive crude oil and copper are following stocks lower. Meanwhile, gold and silver are facing de-facto selling pressure as the US Dollar finds its way higher on the back of renewed safe-haven demand. S&P 500 index futures are pointing sharply lower ahead of the opening bell on Wall Street, hinting more of the same is likely ahead. US Pending Home Sales figures headline the data docket from here, with expectations calling for a 0.3 percent month-on-month decline in February.

WTI Crude Oil (NY Close): $93.71 // +1.26 // +1.36%

Prices are testing resistance at 96.41, the 50% Fibonacci expansion. This barrier is reinforced by a falling trend line set from late January. A break above that exposes the 61.8% Fib at 98.09. Near-term support is at 94.74, the 38.2% level.

Daily Chart - Created Using FXCM Marketscope 2.0

Spot Gold (NY Close): $1608.58 // -6.30 // -0.39%

Prices are testing support at 1597.77, the 14.6% Fibonacci expansion, a barrier reinforced by a rising trend line set from late February (1594.53). A break below that exposes the 23.6% level at 1586.27. Near-term resistance is at 1616.98, the March 21 high, with a reversal above that aiming for a longer-term falling trend line at 1639.94.

Daily Chart - Created Using FXCM Marketscope 2.0

Spot Silver (NY Close): $28.74 // -0.44 // -1.49%

Prices are testing below support at 28.46, the 23.6% Fibonacci expansion. A break below that exposes the 38.2% level at 27.86.Near-term resistance is in the 29.42-92 area, with a break higher exposing a falling trend line now at 30.13.

Daily Chart - Created Using FXCM Marketscope 2.0

COMEX E-Mini Copper (NY Close): $3.466 // +0.030 // +0.87%

Prices are testing below support at 3.447, the 14.6%Fibonacci retracement. A break downward targets the March 19 swing low at 3.388. Near-term resistance is at 3.483, the 23.6% level, with a reversal above that aiming for 38.2% Fib at 3.542.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

View the original article here

Euro Unimpressed by Cyprus Deal as Capital Flight Fears Linger

The Euro has shed earlier gains and now trades little changed after Cyprus and the EU agreed to a bailout deal as capital flight fears continue to linger.

Talking Points

Euro Yields Tepid Response to Cyprus Bailout Deal as Capital Flight Fears Japanese Yen Declined as Stocks Rose in Asia, Denting Safe-Haven Demand The major currencies are little changed in overnight trade. The Japanese Yen is broadly underperforming as Asian stocks advance, sapping demand for the regional haven currency. The MSCI Asia Pacific benchmark equity index has added 0.9 percent after Cyprus and the so-called “troika” (EU/ECB/IMF) agreed to measures paving the way for launch of the country’s bailout program. The Euro spiked higher as the news of the deal emerged but the single currency has since retreated as worries about the impact of the Cyprus fiasco on depositor confidence elsewhere in single currency bloc continue to swirl.

The package of measures emerging out of the weekend’s negotiations focuses most specifically on Laiki Bank, Cyprus’ second-largest lender. The bank will be split, with unsecured deposits (all those over €100,000) transferred to a so-called “bad bank” and eventually wound up. Losses to unsecured depositors from this move are being estimated at 30-40 percent. Secured deposits and performing assets will be moved to Bank of Cyprus. This process is expected to raise €4.2 billion. The Cypriot government will further use privatization and taxation to generate additional funding to move toward unlocking €10 billion in EU aid, a process expected to conclude by mid-April.

On balance, investors’ lack of enthusiasm for the bailout seems reasonable. The critical issue remains that of precedent for larger Eurozone countries, and the way in which the Cyprus situation has been managed does not seem to inspire a great deal of confidence. Depositors in countries with similarly sickly banking sectors (notably Spain) are unlikely to be greatly encouraged by the prospect of losing close to a third of their deposits over €100k with the EU’s blessing if trouble were to arise. Cyprus’ introduction of capital controls to prevent a bank run when lending institutions reopen for business, again with approval from Brussels, is unlikely to sit well also.

This raises the most important question of all: why should a depositor in Spain or a country similarly vulnerable to a banking crisis expect to be left unscathed if a Cyprus-like calamity were to befall them. If such an expectation is deemed unreasonable in light of today’s events, the depositor in question may well opt not to keep money in the Eurozone altogether, and he/she may not be alone. This leaves the markets waiting to see if a mass exodus of capital does indeed occur as the region digests the latest news-flow, for then the worst-case scenario will be upon the Eurozone whether or not Cyprus receives its aid.

Asia Session:

Hometrack Housing Survey (MoM) (MAR)

Hometrack Housing Survey (YoY) (MAR)

Euro Session:

Italian Consumer Confidence Index (MAR)

BBA Loans for House Purchase (FEB)

Italy to Sell 2014 Bonds, 2018-23 I/L Bonds

Critical Levels:

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

View the original article here

Euro Unimpressed by Cyprus Deal as Capital Flight Fears Linger

The Euro has shed earlier gains and now trades little changed after Cyprus and the EU agreed to a bailout deal as capital flight fears continue to linger.

Talking Points

Euro Yields Tepid Response to Cyprus Bailout Deal as Capital Flight Fears Japanese Yen Declined as Stocks Rose in Asia, Denting Safe-Haven Demand The major currencies are little changed in overnight trade. The Japanese Yen is broadly underperforming as Asian stocks advance, sapping demand for the regional haven currency. The MSCI Asia Pacific benchmark equity index has added 0.9 percent after Cyprus and the so-called “troika” (EU/ECB/IMF) agreed to measures paving the way for launch of the country’s bailout program. The Euro spiked higher as the news of the deal emerged but the single currency has since retreated as worries about the impact of the Cyprus fiasco on depositor confidence elsewhere in single currency bloc continue to swirl.

The package of measures emerging out of the weekend’s negotiations focuses most specifically on Laiki Bank, Cyprus’ second-largest lender. The bank will be split, with unsecured deposits (all those over €100,000) transferred to a so-called “bad bank” and eventually wound up. Losses to unsecured depositors from this move are being estimated at 30-40 percent. Secured deposits and performing assets will be moved to Bank of Cyprus. This process is expected to raise €4.2 billion. The Cypriot government will further use privatization and taxation to generate additional funding to move toward unlocking €10 billion in EU aid, a process expected to conclude by mid-April.

On balance, investors’ lack of enthusiasm for the bailout seems reasonable. The critical issue remains that of precedent for larger Eurozone countries, and the way in which the Cyprus situation has been managed does not seem to inspire a great deal of confidence. Depositors in countries with similarly sickly banking sectors (notably Spain) are unlikely to be greatly encouraged by the prospect of losing close to a third of their deposits over €100k with the EU’s blessing if trouble were to arise. Cyprus’ introduction of capital controls to prevent a bank run when lending institutions reopen for business, again with approval from Brussels, is unlikely to sit well also.

This raises the most important question of all: why should a depositor in Spain or a country similarly vulnerable to a banking crisis expect to be left unscathed if a Cyprus-like calamity were to befall them. If such an expectation is deemed unreasonable in light of today’s events, the depositor in question may well opt not to keep money in the Eurozone altogether, and he/she may not be alone. This leaves the markets waiting to see if a mass exodus of capital does indeed occur as the region digests the latest news-flow, for then the worst-case scenario will be upon the Eurozone whether or not Cyprus receives its aid.

Asia Session:

Hometrack Housing Survey (MoM) (MAR)

Hometrack Housing Survey (YoY) (MAR)

Euro Session:

Italian Consumer Confidence Index (MAR)

BBA Loans for House Purchase (FEB)

Italy to Sell 2014 Bonds, 2018-23 I/L Bonds

Critical Levels:

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

View the original article here