Stories for June 25th 2012

Monday, June 25th 2012 - 23:55 UTC
Global economy remains unbalanced after five years of financial strain, warns BIS

Those hoping for quick fixes to the strains in the global economy will continue to be disappointed, writes the Bank for International Settlements (BIS) in its 82nd Annual Report, released on Sunday.
Monday, June 25th 2012 - 20:46 UTC
Spain formally request Euro zone rescue to recapitalize debt-laden banks

Spain on Monday formally requested Euro zone rescue loans to recapitalise its debt-laden banks as the Euro and shares fell on investor scepticism about this week's EU summit.
Monday, June 25th 2012 - 20:17 UTC
Foreign Secretary wants hands-on relationship with Overseas Territories

Early sight of the introduction to a consultative “white paper” about the future of Britain's relations with its overseas territories, suggests that the Foreign Office (FCO), and the Foreign Secretary William Hague in particular, want to have a closer “hands-on” relationship with the governments of the former colonies, now officially known as the overseas territories.
Monday, June 25th 2012 - 20:09 UTC
EU summit to address banking union, fiscal integration and sovereignty issue

European leaders will discuss specific steps towards a cross-border banking union, closer fiscal integration and the possibility of a debt redemption fund at a summit on June 28-29, according to a document prepared for the meeting.
Monday, June 25th 2012 - 19:59 UTC
PM Cameron: Argentina’s behaviour on the Falklands and trade remains “unacceptable”

During a speech at the House of Commons in London on Monday, United Kingdom’s Prime Minister David Cameron blasted Argentina for its “unacceptable behaviour” regarding the Falkland Islands sovereignty claim.
Monday, June 25th 2012 - 19:53 UTC
Germany’s leading minister claims “Greece has forfeited Europe’s trust”

Greece's new government should stop asking for more help and instead move quickly to enact reform measures agreed to in return for previous bailouts from its European partners, German Finance Minister Wolfgang Schaeuble said.
Monday, June 25th 2012 - 19:37 UTC
Canada prepared to accept the new political situation in Paraguay

Canada seems prepared to accept the new political situation in Paraguay following the removal of President Fernando Lugo, and pointed out in an official release that the ousted leader “accepted the decision from the Paraguayan Senate”.
Monday, June 25th 2012 - 18:56 UTC
Urgent summit in Peru to advance transfer of Unasur presidency from Paraguay

An urgent summit of the Union of South American Nations, Unasur, will address the crisis in Paraguay following the removal of President Fernando Lugo, this coming Wednesday in Peru, announced Ecuadorian president Rafael Correa, although there has been no official confirmation from Lima.
Monday, June 25th 2012 - 17:56 UTC
Film portraits of Falkland Islanders released on-line

A two-man American and British film-making team is releasing the first of six video portraits of Falkland Islanders on-line today, Monday June 25th.
Monday, June 25th 2012 - 17:43 UTC
UK authorities worried about possible Argentine protests at Games

The Foreign and Commonwealth Office in London (FCO) is said to be concerned after receiving intelligence suggesting that Argentine authorities or proxy groups may persuade the country’s athletes to use the high profile Olympics stage to show support for their country’s claim to the Falkland Islands.