Jose “Pepe” Mujica, (74) who decades ago served time in prison for taking up arms against Uruguay's bourgeois state was sworn in Monday as the country's new president. In his main speech he called for dialogue and regional integration.
United States Secretary of States Hillary Clinton described the Uruguayan democracy as “very strong” and praised the solidity of its political system. Mrs. Clinton was in Montevideo on Monday, for a few hours, representing President Barack Obama in the inauguration ceremony of Uruguayan president Jose Mujica.
President Cristina Fernandez revoked on Monday a controversial “necessity and urgency” decree to tap 6.6 billion US dollars in foreign reserves from the Central Bank to pay debt replacing it with two new decreed to tap about 4.38 billion USD and 2.18 billion USD to pay private and multilateral creditors (World Bank).
Uruguay’s Vice President-elect Danilo Astori said the next government will reduce the country’s debt load and seek to boost trade with the rest of the world in a bid to bolster economic growth.
United States Secretary of State Hillary Clinton will add Argentina to her Latinamerican tour which begins Monday at the inauguration of Uruguayan president elect Jose Mujica in Montevideo, U.S. officials said on Sunday.
German Chancellor Angela Merkel warned Sunday that the Euro is facing its most serious crisis since its launch a decade ago. The comment comes as European Union officials prepare to visit Athens Monday amid reports of an EU bailout whose effects could lead to further debt crises in the continent's troubled south.
The main airport in Chile’s Capital of Santiago allowed on Sunday the first few aircraft to land since the 8.8 mega quake struck the country Saturday morning. No aircraft however have been permitted to take off.
A Lan flight from Lima was the first to land in early afternoon.
Chile's government conceded it made a mistake in initially playing down the risk of a tsunami from Saturday's massive earthquake. At a news conference in Santiago, Defence minister Francisco Vidal blamed the navy for what he called a diagnostic error.
Chilean President Michelle Bachelet announced emergency measures to deal with the destruction caused by Saturday's massive earthquake. The 8.8 magnitude quake - one of the most powerful recorded - devastated central parts of the country, killing more than 710 people and leaving an estimated 2 million people out in the streets.
Copper is likely to climb when trading starts on Monday, lifted by uncertainty over supply after the world's top copper producer Chile suffered a massive earthquake, analysts said over the weekend.