Stories for May 15th 2012
An exit of Greece from the Euro zone could cost the French taxpayer up to 66.4 billion Euros and saddle the country's banking system with 20 billion Euros in lost loans, according to a study published on Tuesday.
France's economy stalled in the first quarter as household consumption flat lined, businesses pared back investment and exports slowed, underlining the challenge facing Socialist President Francois Hollande who took office on Tuesday.
French President Francois Hollande named veteran Socialist parliamentary leader and Germany-expert Jean-Marc Ayrault as prime minister on Tuesday, an appointment which may help smooth negotiations with Berlin on tempering austerity in Europe.
Attempts to form a government in Greece collapsed on Tuesday rattling financial markets at the prospect of extremist parties opposed to the terms of an EU bailout could sweep to victory and push the Euro zone crisis into a dangerous new phase.
Argentine Vice President Amado Boudou, his girlfriend the journalist Agustina Kampfer, his personal friend and business partner José María Nuñez Carmona, and the Belgian citizen and businessman Alejandro Vandenbroele, were charged on Monday of embezzlement by Federal Prosecutor Jorge Di Lello.
Socialist Francois Hollande is to be sworn as France's president Tuesday before naming a prime minister and dashing to Germany to battle with Berlin over how to tackle Europe's debt crisis.
Argentina formally requested Uruguay to jointly audit the River Plate Administrative Commission, CARP for alleged corruption claims involving the maintenance of the Martin Garcia canal, and which emerged in the Uruguayan press.
Forty-eight Italian senators and lawmakers expressed their public support for Argentina’s sovereignty claim over the Falklands/Malvinas Islands in a letter sent to UN Secretary General Ban Ki-moon, the Argentine Foreign Ministry announced on Monday.
Tens of leading Argentine journalists gathered in Buenos Aires in a television program where each of them was invited to make public what question they would like to ask President Cristina Fernandez in obvious reference to the difficulties to have access to the Argentine head of state and her very limited contact with the press.
Brazil’s Real tumbled to 2 per dollar for the first time in almost three years as Finance Minister Guido Mantega said the exchange rate doesn’t worry the government, opening expectations the currency may fall further.