News from Latin America and Mercosur

Cristina Fernandez insisted in Angola on the South Atlantic as “an area of peace”

The visiting leader also thanked Angola for “the permanent support for Argentina’s Malvinas sovereignty claim”

President Cristina Fernández highlighted the importance of keeping the South Atlantic region as ”an area of peace, free of militarization,” during her speech before the National Assembly of Angola on Friday.

Published in: Politics, Argentina, Falkland Islands, International. 41 comments

Latam Nobel Prize blames Peronism for Argentina’s “self destruction” addiction

Cristina Fernandez a “flagrant example” of the populist barbarization policies of Peronism said Vargas Llosa (Photo: EFE)

Literature Nobel Prize Mario Vargas Llosa blamed Peronism for the self-destruction which is leading Argentina to underdevelopment, poverty and populism, and compared the dominating political movement trajectory to that which took Adolf Hitler to power.

Published in: Politics, Argentina, Mercosur. 72 comments

CFK highlights “magnificent opportunity” for Angola/Argentina trade

The Argentine president with her Angolan peer Jose Eduardo Dos Santos

President Cristina Fernández highlighted the “magnificent opportunity” Argentina and Angola had in coming together on future business transactions, particularly in the face of the global financial crisis, while addressing a meeting with businessmen in Angloa where she is on a three day official visit.

Published in: Economy, Politics, Argentina, International. 47 comments

“Let’s face it: the old (economic) model is broken: we need to create a new one”

Ban Ki-moon: “a new paradigm based on stable economies and decent jobs and opportunities for all.”

United Nations senior officials stressed the importance of establishing a new paradigm for growth that ensures social inclusiveness, job opportunities for all, and more accountability from the financial sector to tackle the ongoing global economic crisis.

Published in: Economy, Politics, International. 14 comments

Argentine activity expands 4% in March but continues steady deceleration

Argentina's economic activity slowed in March to 4% year-on-year continuing a steady deceleration from the China-like rates seen through October, government data showed on Friday.

World’s 29 biggest banks need to raise 566bn dollars of common equity by 2019

The Bank for International Settlements is seeking to implement rules to prevent taxpayers being forced to rescue failing banks

The world’s biggest banks may have to raise about 566 billion dollars of common equity to meet rules on capital to be implemented by 2019, curtailing shareholder returns, according to analysts at Fitch Ratings.

Olympic flame begins Saturday from Land’s end the 8.000 mile relay to London

David Beckham lit a cauldron, to mark the flame's arrival on UK soil.

The Olympic flame landed in the UK ready for the London 2012 torch relay after being flown from Athens, Greece. David Beckham used it to light a cauldron after the plane, also carrying Princess Anne and London Games organizers chair Lord Coe, arrived at a Cornish air base.

Buenos Aires open city for marriages of opposite of same sex partners

The measure was implemented by conservative Mayor Mauricio Macri

The City of Buenos Aires will allow foreigners that arrive in Argentina to get married –with either opposite sex or same sex partners- within five days of a request to the Civil Registry and only needing a temporary real address.

EU ambassador in Argentina suggests “negotiated agreement” for the Repsol/YPF dispute

Alfonso Diez Torres: a negotiated agreement, the best option and solution for the standoff

The European Ambassador to Argentina, Spanish native Alfonso Díez Torres, stressed on Friday that the solution for the YPF seizure conflict would be “a negotiated agreement” between Argentina and Repsol.

Repsol cancels contract to supply Argentina with LNG; YPF ensures supply

The Spanish company had agreed to provide ten ship loads of LNG this year

Spain’s Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the company's majority stake in YPF, a document obtained by international news agency Reuters showed.

EC and ECB making contingency plans for possible Greek exit from the Euro

Trade Commissioner Karel De Gucht said such plans would minimise any “domino effect”

European Commission and European Central Bank are making contingency plans for a possible Greek exit from the euro, an EU commissioner says.

JPMorgan admits billions of losses from flawed trading strategy with derivatives

CEO Jamie Dimon to testify before the US Senate banking committee

The US mega-bank JPMorgan Chase & Co loss from derivatives trading may widen to 5 billion dollars, the Wall Street Journal reported on Friday. CEO Jamie Dimon personally approved the strategy that led to the trades, without monitoring how they were executed, the newspaper said.

UN independent experts call on EU to adopt a global financial transaction tax

FTT is a pragmatic tool for redressing negative effects of wide-ranging austerity packages, said Ms Sepúlveda

A group of United Nations independent experts called on the European Union (EU) to take the lead in promoting the adoption of a global financial transaction tax that would offset the costs of the current economic crisis and protect basic human rights.