Stories for May 14th 2010
Falkland Islands: Penguin News Update
Headlines: British family saved in Southern Ocean drama; Rockhopper shares boom.
Portugal Joins Euro Belt-Tightening Bandwagon but with Strong Political Support
Portugal has become the latest country to introduce austerity measures, after both Greece and Spain took similar steps to stabilize public finances in the face of massive debt.
Mrs. Kirchner Promises to Refinance Provincial Government Debts
The Argentine government said it will refinance 89% of the debt that most of the country’s provinces hold with the federal government, announced President Cristina Fernandez de Kirchner and Economy Minister Amado Boudou.
Italian Defaulted Bond Holders Seem Prepared to Accept Argentine Debt-Swap Plan
In an extensive report, the Task Force Argentina (TFA)—which represents Italians holding some 4.5 billion US dollars in defaulted Argentine sovereign bonds—gave an ambiguous declaration over Argentina's debt-swap plan.
Unemployment Benefits Filing Dips but Labour Market Remains Weak
The number of US workers filing for unemployment benefits dipped again last week but by a tiny margin that experts say does not signal a strengthening of the US labor market.
Home Repossessions in the US Hit Record High; Candle at the End of the Tunnel
The number of US homes being repossessed hit an all-time high last month, but is set to start falling, says the body that tracks the figures. Banks took control of 92,432 properties in April, up 1% from March, and a 45% rise from a year earlier, said RealtyTrac.
US Looking into Possible Banks-Credit Rating Agencies Collusion
Eight banks are facing a US investigation into the rating of their mortgage products, the BBC understands. New York Attorney General Andrew Cuomo is looking at whether the relationship between the banks and credit rating agencies was manipulated to gain better ratings for risky securities.
EU Ambassadors Take Trade Restrictions Protest to Argentine Congress
While the Argentine government remained silent, European Union country ambassadors showed up at the Argentine Congress Thursday in order to protest against food import restrictions. The ambassadors, however, saved their criticisms and instead spoke in a conciliatory tone before the Lower House Foreign Affairs Committee, although they did not hide their “growing worry.”
Over-Stressed Uruguayan President will Miss Madrid Summit
Uruguayan president José Mujica will be missing the coming Latin America, the Caribbean and the European Union Summit scheduled for next week in Spain on medical grounds, it was reported officially and confirmed by the president.
Punta Arenas Students on Three Week Learning Visit to the Falklands
Eight Chilean students and a lady teacher from Punta Areas public school system will be travelling on Saturday to the Falkland Islands for a three week English practice course.
