Politics

Politics
Monday, September 1st 2014 - 13:46 UTC

Timerman presents plan to regulate sovereign debts before the UN on Tuesday

The minister called for a “regulatory framework for debt restructuring process that is not only economical but political and social”

Foreign Minister Hector Timerman referred to Argentina’s plan to regulate international debt restructurings, to be presented on Tuesday before the UN’s General Assembly, and stressed the importance of the project saying that “the legal loophole is huge” and that it affects “most of the countries in the world.”

Monday, September 1st 2014 - 11:22 UTC

PM Cameron 'emotional and nervous' about Scottish independence referendum

First Minister Alex Salmond's pro-independence Scottish National Party forms the devolved government in Edinburgh.

British Prime Minister David Cameron said over the weekend he was feeling “emotional and nervous” about the September 18 Scottish independence referendum.

Monday, September 1st 2014 - 11:06 UTC

Several 'plagues' hit Italy: recession, deflation, job losses and little hope ahead

 The number of unemployed in Italy rose 2.2% or by 69,000 in July to 3.22 million, which is 4.6% up on July 2013

The Italian economy contracted by 0.2% in the second quarter of 2014, Istat said Friday, confirming the continuation of the country's longest postwar recession. GDP was down 0.1% in the first quarter, it added. Likewise deflation hit Italy in August for the first time in more than 50 years, while unemployment rose again in July by 0.3% over June to 12.6%.

Monday, September 1st 2014 - 10:30 UTC

Dragui's announcement on fiscal stimulus cause German concern

Apparently Chancellor Merkel was surprised by ECB's statement in Wyoming

A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in order to boost growth in Europe.

Saturday, August 30th 2014 - 11:49 UTC

Marina pledges to restore Brazil credibility and limit spending below growth rate

“We will be transparent. We will not use creative methods to make the accounts look good,” she said in reference to the Rousseff administration

Opposition presidential candidate Marina Silva said that Brazil's recession is very worrying and her government would work to restore the credibility of the country's economic policies to recover investment and growth if elected. The Brazilian economy fell into recession in the first half of the year, a heavy blow for President Dilma Rousseff's already diminishing hopes of winning re-election in October.

Saturday, August 30th 2014 - 11:06 UTC

Capital Markets accept review of sovereign default and making terms extensive to all bondholders

The new clauses are “a bit like planting an oak tree. You are looking at a 10-year horizon when this will take hold” said Leland Goss, ICMA general counsel.

The International Capital Market Association (ICMA) published on Friday the revised framework that allows a majority of investors holding sovereign bonds that default to make changes to the terms, such as extending maturities or reducing the principal.

Saturday, August 30th 2014 - 11:03 UTC

Britain raises terrorism level to 'severe' in response to possible attacks

“That means that a terrorist attack is highly likely, but there is no intelligence to suggest that an attack is imminent,” May said in a statement.

Britain raised its terrorism threat level on Friday to “severe”, the second highest level, in response to possible attacks being planned in Syria and Iraq, Home Secretary (interior minister) Theresa May said.

Saturday, August 30th 2014 - 10:53 UTC

Brazil in recession; Minister Mantega blames external factors and World Cup

The worst possible news for Dilma and her re-election chances in October

Brazil has fallen into recession, further weakening President Dilma Rousseff, just weeks before voting in what will be a tough re-election battle. Brazil's national statistics institute said Friday GDP shrank 0.6% in the second quarter and revised an initially positive first quarter growth estimate down to -0.2 percent.

Saturday, August 30th 2014 - 08:24 UTC

Marina's advisors: economists graduated in Cambridge and MIT and the heir to Brazil's largest bank

Giannetti da Fonseca, Cambridge PhD, and professor from 1984 to

Two economists with graduate studies in Cambridge and Massachusetts Institute of Technology, a lawyer considered one of the most influential members of Congress and with a PhD from Oxford, plus the heir of a banking empire, the largest in Brazil, and philanthropist, are identified as the closest aides and advisors of Marina Silva, with increasing chances of becoming Brazil's next president in October.

Saturday, August 30th 2014 - 08:01 UTC

Judge Griesa schedules new hearing; Argentina appeals to United Nations on holdout case

Following a request from Elliott NML Capital, US District Judge Griesa scheduled a hearing for Sept. 10 at 2:30 p.m. EDT

The US judge overseeing litigation by Argentina and creditors who did not participate in the country's past debt restructurings scheduled a hearing to assess whether Citigroup Inc (C.N) should be forced to comply with a subpoena.

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