The outcome of a two-day European and Latin America lawmakers’ meeting in Uruguay was considered very positive and a strong message to forward negotiations on the sensitive EU/Mercosur trade and cooperation agreement.
Chilean President Sebastián Piñera signed a bill which, if approved by Congress, would eliminate a substantial source of revenue for Chile’s Armed Forces. Under current legislation, 10% of all export revenues from Chile’s National Copper Corporation (CODELCO) are directed to the Superior Council of National Defence, to be spent on weaponry and equipment.
For years LAN Chile has dominated the Chilean airways, but recent reports suggest Uruguayan based airline Pluna is hoping to open up new domestic flights within Chile, increasing the competition already offered by Sky airlines and PAL airlines.
Mexico, Russia and Thailand added gold now valued at about 6 billion US dollars to their reserves in the first quarter of 2011 as metal prices advanced to a record, the dollar weakened and US Treasuries lost investors money.
President Rafael Correa won Ecuador's vote on judicial and media reforms, but by a smaller margin than forecast, near-final results showed on Wednesday evening.
By Andres Velasco, Former Finance Minister of Chile.
The Inter-American Development Bank declared last July that this would be “Latin America’s Decade.” A couple of months later, The Economist endorsed that idea, which has since been repeated by countless apologists and experts.
Lawmakers from the European Union and Latin America meeting in Uruguay approved two resolutions on the lack of freedoms in Cuba and on the coming electoral process in Venezuela.
Uruguay’s sound economic and stable political environment were underlined by the country’s Deputy Minister for Public Works and Transport during a high level business forum to attract investors to Latin American which was held in the capital of South Korea, Seoul.
The Union of South American Nations, Unasur, defence ministers sponsored in Peru a declaration confirming the region as a “peace zone” and agreed to continue advancing in developing a “common methodology” to compare defence expenditure among member countries.
The following piece by Jude Webber writing for the Financial Times explains the different approach by the two neighboring countries to the windfall earnings of the commodities boom.