Stories for May 2010

Monday, May 17th 2010 - 01:46 UTC
Europe living “truly dramatic times”, the most difficult since WWI, says Trichet

European Central Bank President Jean-Claude Trichet called for more effective sanctions against countries violating the region’s Stability and Growth Pact and said the ECB acted independently when it bought government bonds, Spiegel magazine reported, citing an interview.
Monday, May 17th 2010 - 01:42 UTC
Spanish unions have ten days to agree on labour market reforms

Spanish unions and employees organizations have ten days to come up with an agreement of labour reform or the government will approve the initiative by decree, according to reports in the Madrid press.
Monday, May 17th 2010 - 01:18 UTC
Disappearance of prominent Mexican power broker linked to organized crime

Mexican president Felipe Calderon said that organized crime will not settle in the country as it did in Colombia in the nineties. His Sunday statement comes a day after a former Mexican presidential candidate who remained a power broker in the ruling party went missing amid signs of violence.
Monday, May 17th 2010 - 01:11 UTC
Brazilian government presidential candidate leads in vote intention with 38%

Brazilian incumbent presidential candidate Dilma Rousseff leads in vote intention with 38% compared to 35% for her main opponent Jose Serra, according to the latest Vox Populi public opinion polls releases published in the Sunday press.
Saturday, May 15th 2010 - 13:56 UTC
Antarctic Treaty Governments Progress on Climate Change and Marine Protected

Punta del Este, Uruguay. Antarctic and Southern Ocean Coalition welcomed steps at the 33rd Antarctic Treaty meeting to make climate change a major item on the agenda, and to keep momentum going on a network of Marine Protected Areas in the Southern Ocean.
Saturday, May 15th 2010 - 04:49 UTC
World Stock Markets Plunge and Euro Falls to 18-Month Low

World stock markets plunge Friday and the Euro hit an 18-month low against the dollar, on growing fears that the austerity packages unveiled across Europe could tip the continent back into recession and stifle global economic recovery.
Saturday, May 15th 2010 - 04:44 UTC
Brazil Furious with Argentine “Scare Practices” Threatens Trade Retaliation

Brazil is seriously considering retaliation against Argentina for new rules restricting food imports which allegedly compete directly with Argentine production. EU ambassadors in Buenos Aires made a similar presentation before the Argentine congress earlier this week.
Saturday, May 15th 2010 - 04:39 UTC
Volcker Fears Potential Disintegration of the Euro, Without Common Fiscal Policy

Former Federal Reserve chairman and advisor of the Obama administration is concerned that the Euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members.
Saturday, May 15th 2010 - 04:37 UTC
IMF Warns Developed Countries on “Urgent” Need to Cut Budget Deficits

The International Monetary Fund has warned developed nations they face an “urgent” need to cut their budget deficits. Its warning comes as a slew of European countries face public unrest over their attempts to do just that.
Saturday, May 15th 2010 - 04:29 UTC
Gibraltar Celebrates: Hague and Fox “Could not be Better Choices”

Gibraltar Chief Minister Peter Caruana gave the warmest welcome the Rock could give to a new Foreign Secretary as he described William Hague, former Tory leader, as a “safe pair of hands” from Gibraltar's perspective.