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Stories for December 2008

• Monday, December 1st 2008 - 20:00 UTC

  Fiscal deficit no longer a “dirty word” for Chilean gov.

  

  Chile's Finance minister said one month's fiscal deficit is “no problem” and minimized the impact of the strong increase in government expenditure in October as in most of the other nine months.

• Monday, December 1st 2008 - 20:00 UTC

  It's official: US has been in recession since December 2007

  

  The US National Bureau of Economic Research said Monday that the US has been in a recession since December 2007. The NBER said that the deterioration in the labour market throughout 2008 was one key reason why it decided to state that the recession began last year.

• Monday, December 1st 2008 - 20:00 UTC

  Obama names Hillary, confirms Gates in the Pentagon

  

  United States President-elect Barack Obama nominated Monday his former rival, Hillary Clinton, as his secretary of state. Mr Obama described the former first lady as a woman of “tremendous stature” who had his “complete confidence”.