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Stories for June 1st 2012

• Friday, June 1st 2012 - 02:16 UTC

  Italy hugely exposed to the Euro-debt turmoil and to Spanish contagion

  

  Italy is hugely exposed to the risk of contagion from the debt turmoil in the euro zone, said Prime Minister Mario Monti, suggesting the European Central Bank take action to help cool borrowing costs.

• Friday, June 1st 2012 - 01:33 UTC

  Repsol regains 6% warranty-stake in YPF and now owns 12.43% of the company

  

  Spain energy Group Repsol regained rights on a 6% warranty-stake in the Argentine oil and gas giant YPF after the Petersen Group, which used to own 25.46% of the company, lost it as the result of not having met payments for the loan through which they initially enter the business without paying a single cent.

• Friday, June 1st 2012 - 01:24 UTC

  Argentine top lawmaker admits having his savings in dollars “and I won’t sell them”

  

  A top Argentine lawmaker came on stage (and lost his temper) when he had to explain why his savings are in dollars after the government of President Cristina Fernandez, including him personally, launched not only strong restriction policies on dollar purchases, but told the population to forget about dollars and start thinking in pesos.