Argentine President Cristina Fernández began on Saturday before Congress her second term with a seventy minutes speech strongly focused on domestic issues with clear messages to labour, corporations, the financial sector, the Judiciary but also a “fine tuning” pledge to continue with the current national, popular, inclusive economic development model.
Argentina and Brazil agreed on Friday to “increase” in the “short term” regional trade in a shared strategy to address the consequences of the global crisis. The commitment was endorsed by Argentina’ Industry minister Debora Giorgi and her Brazilian counterpart Fernando Pimentel.
Ratings agency Moody's downgraded the debt of BNP Paribas, Societe Generale, and Credit Agricole on Friday, citing deteriorating liquidity and funding conditions.
The IMF recommended Uruguay greater flexibility in the management of macroeconomic policy, ahead of unexpected changes in the international scenario.
British PM David Cameron has defended his decision to block an EU-wide treaty change to tackle the Euro zone crisis, despite warnings it will leave the UK isolated.
The presidents of Venezuela, Colombia, Peru, Ecuador and Mexico, Hugo Chávez, Juan Manuel Santos, Ollanta Humala, Rafael Correa and Felipe Calderón have cancelled their trips to Buenos Aires and won’t attend President Cristina Fernández inauguration ceremony on Saturday.
Breaking away from tradition Argentine President Cristina Fernández will swear in her second term Cabinet at the Bicentennial Museum in Buenos Aires, a ceremony that by custom has been held in the White Room at Government House, Casa Rosada.
In a very close result the Gibraltar Socialist Labour Party (GSLP) Liberal Alliance were elected on Thursday into government with Fabian Picardo topping the poll.