Stories for January 11th 2013
Tens of thousands of Venezuelans packed the centre of Caracas on the day that Hugo Chavez, cancer-stricken and hospitalized in Cuba for over a month, had to take office for another six years and ended the rally with hands up in a massive oath of loyalty to the president.
Presidents, Foreign ministers and representatives from 22 Latinamerican and Caribbean countries stamped their signatures to a declaration stating their commitment in support of Venezuela and its institutions in the international stage.
The shortest and most sober of a day of emotional speeches and promises was that from Uruguayan president Jose Mujica who asked the massive rally in support of President Hugo Chavez that if the Venezuelan leader “tomorrow is not with us”, then unity, peace and work must prevail.
Following on the climbing tendency since the beginning of the year, the ‘blue’ or ‘parallel’ US dollar traded in Buenos Aires at 7.25 Argentine Pesos with a 46% gap over the ‘official’ dollar that remained relatively stable at 4.95 Pesos.
European Central Bank (ECB) president Mario Draghi spoke on Thursday of a positive contagion in the Euro zone economy, saying that the financial situation is improving and growth is set to return in the second half of the year.
US President Barack Obama on Thursday nominated his chief of staff, Jack Lew, as the next Treasury secretary, praising him as a expert on the pressing national issues of spending cuts and deficit reduction.
The Bank of England on Thursday decided not to extend its quantitative easing (QE) stimulus program, which has injected £375bn into the UK financial system. It is also keeping its key interest rate unchanged at 0.5%, where it has been since March 2009.