Stories for June 2012

Wednesday, June 6th 2012 - 22:59 UTC
Argentine president pledges to turn her dollar savings into Pesos and urged ministers to follow

Argentine President Cristina Fernández insisted Wednesday on the need of saving in Pesos instead of US dollars and announced that she would “pesify” her dollar fixed-term bank deposit, urging her ministers to do the same.
Wednesday, June 6th 2012 - 21:42 UTC
Billionaire Soros tells EU leaders they have a “three month window” to save the Euro

Billionaire investor George Soros has warned European leaders they have a “three-month window” to save the Euro and insisted that the EU leaders did not understand “the nature of the crisis”.
Wednesday, June 6th 2012 - 21:25 UTC
Trichet proposes “emergency powers” for EU key institutions to address crises

Europe's key institutions should have emergency powers to override economic and financial policies at a national level in times of crisis, Jean-Claude Trichet, former head of the European Central Bank, said on Wednesday.
Wednesday, June 6th 2012 - 21:20 UTC
ECB warns EU leaders that monetary policy won’t fill other institutions “lack of action”

European Central Bank (ECB) president Mario Draghi said on Tuesday that risks to the Euro zone economy have increased and warned of “heightened uncertainty weighing on confidence and sentiment”.
Wednesday, June 6th 2012 - 18:48 UTC
Brazilian inflation falls below 5% in May for the first time since September 2010

Brazil’s inflation rate fell more than economists expected in May, pushing the annual pace below 5% for the first time since September 2010. Monthly inflation slowed to 0.36% from 0.64% in April.
Wednesday, June 6th 2012 - 06:36 UTC
Argentine farmers conflict expands; all trading suspended for a week

Argentine farmers’ organizations under the umbrella grouping Liaison Board announced on Tuesday a national strike cancelling all trade in grains, oilseeds and livestock to protest ‘national government policies’ against the land reform and tax hike in Buenos Aires province, among other issues.
Wednesday, June 6th 2012 - 06:33 UTC
Uruguayan economist joins Brookings Institution as director of Latam Initiative

Ernesto Talvi, an expert on Latin America, emerging markets and economic policy, will join the Brookings Institution as director of the Latin American Initiative (LAI), Brookings President Strobe Talbott announced this week.
Wednesday, June 6th 2012 - 06:30 UTC
Consumer lending bank seized by Brazil’s Central bank for ‘serious financial violations’

Brazil’s easy money policies have squeezed yet another of its banking weaklings. The country’s central bank seized consumer lender Banco Cruzeiro do Sul on Monday for “serious” financial violations. The episode serves as another example of a bank losing its way in Brazil’s lending frenzy
Wednesday, June 6th 2012 - 06:27 UTC
Uruguay planning to expand nascent sovereign debt market to improve liquidity

Uruguay wants to expand its nascent local sovereign debt market to improve the liquidity of its securities, said Azucena Arbeleche, the head of the country’s debt management unit at the Ministry of Economy and Finance.
Wednesday, June 6th 2012 - 04:41 UTC
OAS calls on Argentina/UK to find peaceful way to solve Malvinas sovereignty dispute

The Organization of American States general assembly, meeting in Tiquipaya, Bolivia, passed a resolution urging the Argentine and British governments to find a peaceful way to solve the Malvinas Islands sovereignty dispute.