Stories for November 17th 2011

Thursday, November 17th 2011 - 18:54 UTC
Uruguay is Mexico’s strategic partner in Mercosur says President Calderon

The Mexican president underlined the strategic importance of Uruguay since it is the only Mercosur member that has a free trade agreement with Mexico, thus making it the ‘strategic partner’ of Mexico in Mercosur.
Thursday, November 17th 2011 - 17:41 UTC
G20 president says Uruguay is no ‘fiscal haven’ and praises transparency commitment

Uruguay received a huge political boost from Mexico (the same it was denied from its Mercosur partners under influence from Argentina) in its dispute with the recent G20 summit which through spokesperson French president Nicholas Sarkozy described Uruguay as a ‘fiscal haven’.
Thursday, November 17th 2011 - 07:20 UTC
US is all in a “Pacific power”, Obama tells Australia (and China)

President Barack Obama said that the Asia-Pacific region will play a key role in defining the world's future. “The United States is a Pacific power, and we are here to stay,” he stated in a speech to the Australian Parliament, sending a clear message to Beijing.
Thursday, November 17th 2011 - 07:08 UTC
Mercosur is not moving but Uruguay “will not stay put licking its wounds”

Uruguayan president Jose Mujica said that Mercosur “is not moving forward or backwards” but is certainly working much better than the European Union where old experienced nations “made a mess of it”. Nevertheless, Uruguay will not stay put “licking its wounds”, it will look for other trade links.
Thursday, November 17th 2011 - 07:04 UTC
Top banker forecasts ‘dollar run’ in Argentina will dissolve: plenty of reserves

The former head of the Argentine Central Bank, Mario Blejer assured on Wednesday that in the exchange market “tension has been created which will only start to dissolve as and when we minimize the analysis of the subject.”
Thursday, November 17th 2011 - 06:56 UTC
Moody’s downgrades Brazilian meat corporation Marfrig from stable to negative

Credit ratings agency Moody's changed its outlook for Brazilian meat processor Marfrig from stable to negative, citing what it feels is a deterioration in Marfrig's credit viability due to strong competition in the Brazilian protein sector in recent months, higher commodity prices, a global economic slowdown and currency volatility.
Thursday, November 17th 2011 - 06:52 UTC
US debt soars past 15tn while another political storm is brewing in Congress

The US government's debt load topped the 15 trillion dollars mark Wednesday, as politicians in Congress continued to battle over how to cut spending. Treasury figures showed the burden of federal borrowing reached 15,033,607,255,920.32, up 55.8 billion from Tuesday.
Thursday, November 17th 2011 - 03:49 UTC
Uruguay denies access to Malvinas-bound Royal Navy vessels to please Argentina

Uruguay had to stand up to a world power and deny dock access to a Royal Navy vessel on its way to the Falklands/Malvinas to retain good relations with Argentina, admitted the Uruguayan President Jose Mujica in Guadalajara where he met with members of the Uruguayan colony in Mexico.
Thursday, November 17th 2011 - 03:45 UTC
Euro crisis had heads rolling in the IMF; European Department chief removed

The head of the International Monetary Fund's European department quit less than a year into the job and was replaced by a veteran staffer as the European debt crisis worsens.
Thursday, November 17th 2011 - 01:32 UTC
Argentina cuts utilities subsidies to large companies and high-income households

Argentina announced Wednesday a further adjustment to its extended public utilities (electricity, water and gas) subsidies policy and this time the cuts will apply to large companies and high income households.