The Argentine government yesterday appealed an order by US Judge Thomas Griesa who asked some private banks to turn over information about Argentina’s assets abroad. The case had been started by hedge fund Elliott Management Corp’s NML Capital Ltd which is demanding in court full 100% payment of Argentine sovereign bonds face value.
Brazilian police fired tear gas and have arrested scores of protesters in the country's main city Sao Paulo when a march demanding free public transportation for students turned violent. The protest on Friday evening blocked key city streets and disrupted the public transportation system in the city of 11 million. Police reported the arrest of at least 78 people.
Sunday's midterm election in Argentina has become crucial for the government of President Cristina Fernandez who must retain control of Congress in the last two years of her mandate ahead of the 2015 presidential election, otherwise she runs the risk of becoming a lame duck accompanied by a most unwished end for the legacy of the Kirchner couple decade-plus rule.
The Paraguayan foreign affairs ministry will represent Mercosur next December when the exchange of proposals with the European Union for a long pending free trade agreement, announced Uruguayan president Jose Mujica on Friday following private talks with his visiting peer from Paraguay, Horacio Cartes.
President Horacio Cartes said on Friday he wanted a reliable and serious Paraguay, full of self esteem taking advantage of the good economic times and pledged motivation and support for all those who help generate wealth and jobs for the country. However he also admitted that Paraguay has serious failings, but problems are challenges and opportunities.
President Horacio Cartes although admitting he is heart and mind committed to Mercosur, Paraguay's full return to Mercosur is in the hands of diplomacy since as head of state he must abide strictly by the rule of the law.