Stories for May 15th 2010
Punta del Este, Uruguay. Antarctic and Southern Ocean Coalition welcomed steps at the 33rd Antarctic Treaty meeting to make climate change a major item on the agenda, and to keep momentum going on a network of Marine Protected Areas in the Southern Ocean.
World stock markets plunge Friday and the Euro hit an 18-month low against the dollar, on growing fears that the austerity packages unveiled across Europe could tip the continent back into recession and stifle global economic recovery.
Brazil is seriously considering retaliation against Argentina for new rules restricting food imports which allegedly compete directly with Argentine production. EU ambassadors in Buenos Aires made a similar presentation before the Argentine congress earlier this week.
Former Federal Reserve chairman and advisor of the Obama administration is concerned that the Euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members.
The International Monetary Fund has warned developed nations they face an “urgent” need to cut their budget deficits. Its warning comes as a slew of European countries face public unrest over their attempts to do just that.
Gibraltar Chief Minister Peter Caruana gave the warmest welcome the Rock could give to a new Foreign Secretary as he described William Hague, former Tory leader, as a “safe pair of hands” from Gibraltar's perspective.
US Secretary of State Hillary Rodham Clinton and new British Foreign Minister William Hague met on Friday in Washington, vowing to strengthen the U.S.-Britain strategic alliance on addressing common challenges.
The German economy—Europe's largest—expanded 0.2% in the first quarter of 2010, beating forecasts of zero growth. Many analysts predicted German GDP would stagnate in the quarter.
Nigeria's state-run oil firm Nigerian National Petroleum Corporation and China State Construction Engineering Corporation have signed a 23 billion US dollars deal.
Land Rover's global sales almost doubled last month, with demand for the 4x4 vehicles growing strongly as the world economy recovers.