Stories for January 11th 2013

Friday, January 11th 2013 - 09:05 UTC

On inauguration day Chavez militants promise total loyalty and to defend his presidency

“We are militant soldiers of our Commander Hugo Chavez” yelled Maduro and crowd roared back “I am Chavez”

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.

Friday, January 11th 2013 - 08:55 UTC

Declaration of Caracas pledges support for Venezuela in the international stage

Evo Morales, Jose Mujica, Daniel Ortega and Nicolas Maduro, the forward line at the rally

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.

Friday, January 11th 2013 - 08:52 UTC

President Mujica calls for unity and peace for ‘the day when Chavez is not with us’

Wearing his classical dark glasses, Mujica’s was the most sober of speeches

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.

Friday, January 11th 2013 - 08:36 UTC

Argentine tourists must pay 8 pesos for the US dollar in neighbouring countries

Can you spare a dollar, I only have Argentine pesos?

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.

Friday, January 11th 2013 - 08:32 UTC

An optimistic Dragui sees a “positive contagion” in the Euro zone economy

Contagion is not only about the crisis, there is a positive contagion when things go well, too, said the ECB chief

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.

Friday, January 11th 2013 - 08:25 UTC

Obama nominates budget expert to replace Geithner as Treasury Secretary

Lew’s loopy signature will be printed in the US currency.

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.

Friday, January 11th 2013 - 08:21 UTC

Bank of England keeps monetary policy unchanged waiting for GDP figures

Steady as she goes: BoE offering £60bn in cheap loans to banks and building societies

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.

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