The European Central Bank stepped in on Wednesday to stem an accelerating sell-off of Euro zone government bonds, traders said, after the United States called for more decisive action to halt a spreading sovereign debt crisis.
Argentine Economy Minister and Vice-President elect Amado Boudou urged Latin American countries to increase the use of local currencies in regional trade instead of depending on other currency such as the dollar.
The administration of President Barak Obama reaffirmed its decision to “keep reminding” Argentina of the need to comply with its international obligations as well as the importance of upholding an investment climate ‘transparent and fair’ that includes paying creditors, points out a piece from Buenos Aires La Nacion correspondent in Washington.
The European Parliament on Tuesday voted into law a regulation to curb short selling and trading in credit default swaps (CDS), a financial product for insuring against default.
The European Commission has put forward stricter rules for the credit rating agencies that rank countries' and companies' debt. The rules says agencies, including Standard & Poor's, Moody's and Fitch, should follow stricter standards, be more transparent about their ratings and be held accountable for their mistakes.
Argentina will not take back the millions of Pesos that thousands of tourists spend in neighbouring Uruguay during the summer season. That was the reply to a request from Uruguay’s largest bank branch in the City of Buenos Aires, according to banking sources in Montevideo.
Uruguay won’t accept bids above 65 dollars a megawatt-hour from developers bidding to sell power from wind farms as concerns mount that rates have dropped too low.
Police wearing helmets and carrying shields evicted protesters with the Occupy Wall Street movement early Tuesday from the park in New York City's financial district where they have camped since September, dismantling their tent city and arresting about 70 people.
Greece and private bondholders begun working on a deal to halve its public debt, a key pillar of a bailout plan to save the country from bankruptcy and ejection from the euro zone, sources said.
Cancellations and more delays persisted Tuesday at Buenos Aires main airports as Aerolineas Argentinas flights suffered further setbacks to the service. The administrators of metropolitan Aeroparque and Ezeiza international airport, Aeropuertos Argentinas 2000 said that flights were resuming, albeit slowly.