Stories for March 5th 2010
Most Chilean fatalities may have resulted from tsunami, say officials
Chilean disaster officials are now saying the majority of the country’s fatalities may have resulted from the earthquake-generated waves that struck coastal towns like Constitución, where 350 people were killed.
Chilean flags in the Falklands – fund raising for Earthquake victims
CHILEAN flags have been on display in the Falkland Islands as members of the Chilean community, along with Islanders, have begun fundraising for victims of the Chile earthquake.
Strong 6.3 quake strikes northern Chile; three days national mourning
Chile was shaken Thursday by a strong 6.3-magnitude earthquake that officials said was not an aftershock from the massive quake that killed hundreds and left two million in precarious living conditions last weekend.
Argentina: Defiant Cristina: “this president will pay debts with central bank reserves”
Argentina's president defiantly vowed on Thursday to tap billions of dollars in foreign currency reserves to pay debt, in spite of Congress and the Judiciary, but also appealed a court order blocking her latest attempt to use the funds.
Central bank acting president, first victim of political clash in Argentina
Argentina’s central bank interim chief seems condemned to be the first victim of the political clash between the Executive and Congress over the government’s use of central bank reserves to pay maturing debt in 2010.
Dilma riding on Lula da Silva’s popularity but “won’t be enough”
Former Brazilian President Fernando Henrique Cardoso said that while President Lula da Silva is “unbeatable” today, his popularity won’t be enough to elect his chosen heir, cabinet chief Dilma Rousseff (62).
Greek PM in Berlin will test Germany’s commitment
Two political allies of German Chancellor Angela Merkel said Greece should sell off some of its islands to pay off its debts. Greece's Prime Minister, George Papandreou, is due to meet Ms Merkel in Berlin Friday for talks about his country's economic crisis.
Bank of England leaves QE program and interest rates unchanged
The Bank of England opted Thursday against providing fresh aid for the economy after a year of record low interest rates and emergency stimulus measures. Its rate-setting committee marked the first anniversary of quantitative easing by leaving the program unchanged at £200bn and holding borrowing costs at 0.5%.
Euro zone interest rate left at record low of 1% for tenth month
The European Central Bank (ECB) has kept the Euro zone benchmark interest rate at its record low of 1% for the 10th month in a row, as expected. ECB also signalled it would scale back the special lending measures introduced during the financial crisis even though the economy in the 16 countries that use the Euro is only barely growing.
China surprises with a slower growth of its 2010 defence budget policy
China announced a slowdown in the growth of its much-watched defence budget. The planned increase of just 7.5% on last year's military spending is the smallest hike after more than two decades of annual double-digit increases.
