Stories for December 2011

Thursday, December 8th 2011 - 20:26 UTC
Hammond: “no going back” on defence cuts and “it will not be easy or pain-free”

The UK Defence secretary Philip Hammond issued a sharp warning that there can be ‘no going back’ on the government’s cuts to the armed forces made in last year’s Strategic Defence and Security Review (SDSR).
Thursday, December 8th 2011 - 20:19 UTC
UK NATO campaign in Libya (longer than expected) cost 333 million dollars

The UK contribution to the NATO operation in Libya cost £212 million pounds (333 million dollars), Defense Secretary Philip Hammond said on Thursday in London.
Thursday, December 8th 2011 - 20:01 UTC
Falklands’ land mine clearance set to enter a new expanded phase in early 2012

Robin Swanson, head of the Demining Program Office and visiting the Falkland Islands this week ahead of the new phase of land-mine clearance due to start early next year, confirmed that the forthcoming planned clearances will advance the demining process from the pilot stage to a more advanced “land release” phase.
Thursday, December 8th 2011 - 19:54 UTC
Uruguay with “two economic teams, let us not play with fire” warns top economist

The academic director of a Conservative think-tank, questioned Uruguayan president Jose Mujica attitudes and expressed the growing concern in the local business community and internationally about the fact the country seems to have two different economic teams.
Thursday, December 8th 2011 - 06:55 UTC
Euro Day: EU leaders won’t leave Brussels summit until agreement is reached

Pessimistic comments from Germany and new figures exposing deepening stress among Europe's banks dented financial market hopes of a turning point in the Euro zone's debt crisis at a summit this week.
Thursday, December 8th 2011 - 06:51 UTC
Argentine lawmaker blasts UK marine conservation project in South Georgia

Argentine lawmaker and president of the Malvinas Islands Parliamentary Observatory Alfredo Atanasof said Britain’s intention of creating a huge marine conservation zone in waters of South Georgia was “completely illegitimate”.
Thursday, December 8th 2011 - 06:49 UTC
“Getting rid of credit rating agencies is imperative”, says top Argentine official

Argentine Economy Minister and Vice-President-elect Amado Boudou charged against credit-rating agencies and accused them of being “a source and transmission of problems,” warning that “as long as they exist, resources will continue to flow from those who have less to those who have more.”
Thursday, December 8th 2011 - 06:47 UTC
Capital flight in Argentina doubles to 18 billon dollars in nine months of 2011

Argentine capital flight accelerated to the fastest pace in at least 10 years in the third quarter as investors concerned about inflation and a weakening Peso pulled cash out of South America’s second-biggest economy.
Thursday, December 8th 2011 - 06:44 UTC
Argentine central bank confirms pro-active policies and competitive Peso

Argentine Central Bank Governor Mercedes Marcó del Pont assured on Wednesday that the flight of dollar deposits from the local financial system has slowed down and highlighted the fact that Government’s policy of regulated exchange rate has given “certainty” to savers and investors. She also forecasted 6% growth next year for the Argentine economy.
Thursday, December 8th 2011 - 06:41 UTC
US about turn: now it supports loans to Argentina in multilateral credit organizations

The Inter-American Development Bank (IDB) announced on Wednesday the unanimous approval of a 400 million dollar credit to Argentina in order to improve the infrastructure of the country’s poor neighbourhoods.