The mix of high external indebtedness, the fragility of the financial sector and the probability of further declines in asset prices increase the probability of a funding squeeze at some point means that “Spain will be the next country to seek financial assistance from the EU and the International Monetary Fund”, argues one of the Financial Times respected columnists.
The citizens of the Spanish city of Barcelona voted on Sunday by more than 90% in favor of independence for the province of Catalonia from the central government in Madrid.
President Rousseff arrived in Beijing Monday to begin a state visit to China that will incorporate Thursday’s summit of BRIC leaders. However Ms Rousseff’s trip to China is symbolically important since it is her first overseas visit outside Latin America and underlines the growing importance of the Brazil/China relationship, points out Capital Economics.
The global economic recovery is gaining strength, with world growth projected at about 4½ percent in both 2011 and 2012, but unemployment remains high, and risks of overheating are building in emerging market economies, the IMF said in its latest forecast.
Governor Liliana Kusanovic, from the extreme south Chilean Magallanes region has resigned alleging the need to care for family affairs and denying any link with January’s gas prices strike which paralyzed the region for a week. Ms Kusanovic’s resignation, which belongs to the ruling coalition, was accepted and made public Monday.
Growing crime and violence in Central America not only have an immediate human and social toll but they also pose a tremendous threat to development potential in the region since it is estimated that these sources of instability cost 8% of GDP, once health, institutional, private security, and material expenses are accounted for.
U2's current worldwide 360° tour has become the highest grossing in history, beating the record previously set by The Rolling Stones between the years 2005-2007, reported Live Nation Entertainment.
China plans to invest ten billion US dollars in the production, storage and transport of soybeans in Brazil to ensure the supply of the commodity of which it is the world’s main importer, according to press reports in Beijing.
European Union Agriculture ministers will be meeting this week in Luxembourg to discuss the current trade negotiations with Mercosur, according to European Commission sources.
The Falkland Islands has nominated an Islander as new Director of Mineral Resources who will be taking over from Phyl Rendell when she retires as the end of the year, announced the government of the Islands.