Stories for May 2012

Friday, May 25th 2012 - 20:44 UTC
Germany should exit the Euro and revalue its currency, suggests top economist

Germany should exit the Euro and revalue its currency as “damage control” to avoid the effects of contagion stemming from a Greek exit, which would cripple banks and trade in Europe, according to former Argentine Finance Secretary Guillermo Nielsen.
Friday, May 25th 2012 - 18:52 UTC
Falklands’ expects 20% boost in UK visitors because of the war’s 30th anniversary

The UK dominated as the key generating market for tourism in 2011 according to new data released by the Falkland Islands Tourist Board (FITB). Last year land-based tourism from the UK was up 5% to a total of 4.164 arrivals (this figure does not include cruise arrivals).
Friday, May 25th 2012 - 16:10 UTC
EU files suit against Argentina with WTO, but it’s a long process

The European Union filed a suit against Argentina's import restrictions with the World Trade Organization (WTO), European Union Trade Commissioner Karel De Gucht announced on Friday.
Friday, May 25th 2012 - 16:07 UTC
Spain’s richest region closer to default without central government aid

Spain's wealthiest autonomous region, Catalonia, needs financing help from the central government because it is running out of options for refinancing debt this year, Catalan President Artur Mas admitted on Friday.
Friday, May 25th 2012 - 09:04 UTC
Repsol partner in a huge deposit off the Brazilian coast with 1.25bn barrels of oil

Spain’s Repsol, recovering from the recent seizure of YPF by the Argentine government, said an area off the coast of Brazil it is exploring with partner China Petroleum and Chemical Corp. contains the equivalent of at least 1.25 billion barrels of oil.
Friday, May 25th 2012 - 07:01 UTC
Three former presidents admit Mercosur has failed and has Uruguay ‘trapped’

Three former Uruguayan presidents recommended the current administration that without abandoning Mercosur, it should look at major trade blocks associations but at the same time a strong self criticism is needed because maybe the problem is not in Mercosur but in Uruguay.
Friday, May 25th 2012 - 06:56 UTC
Argentina extends dollar purchase control to residents travelling abroad

Argentina announced on Thursday the use of a new computer tool to gather information from buyers of holiday packages from travel agencies, in another attempt to control savers thirst for greenbacks after the government's crackdown on access to dollars.
Friday, May 25th 2012 - 06:51 UTC
Argentina revokes commuter railway concession involved in crash that killed 51m and injured 700

Argentina's government on Thursday revoked the commuter railway concession for a company whose train crashed in February, killing 51 people and injuring 703.
Friday, May 25th 2012 - 06:45 UTC
UK reassures support for Gibraltar after major incident with Spain in the Rock’s waters

UK reassured support for Gibraltar following Wednesday night’s incident when several Spanish Guardia Civil vessels and a helicopter were involved in a tense standoff with the Royal Gibraltar Police, the Gibraltar Defence Police and the Royal Navy while the Spanish trawlers tried to cast nets in the Rock’s bay.
Friday, May 25th 2012 - 02:51 UTC
Alcohol consumption in Latin America is considerably less than in Europe and US

Alcohol consumption in Latin America is low compared to Europe and the US and averages 5.5 litres of pure alcohol per year per capita, although with marked differences between countries and gender. In Europe consumption is estimated at 13 litres of pure alcohol while in the US the average in 9.8 litres.