Stories for 2012

Saturday, June 23rd 2012 - 07:50 UTC
Moody’s downgrades ratings of 15 big banks; Citigroup strongly criticizes decision

Ratings agency Moody's downgraded 15 of the world's biggest banks, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities, but banks criticized the move as backward looking.
Saturday, June 23rd 2012 - 07:39 UTC
EU leaders agree growth measures but remain divided on mutualized bonds issue

The leaders of Germany, France, Italy and Spain agreed Friday on a 130 billion Euros package to try to revive economic growth in Europe but differed over whether and how to launch joint bonds to combat the Euro zone's debt crisis.
Saturday, June 23rd 2012 - 03:48 UTC
Franco promises to uphold democracy and honour international agreements

Paraguayan vice-president Federico Franco, 49, was sworn-in on Friday afternoon as president following Fernando Lugo’s impeachment that had him removed in less than two days.
Saturday, June 23rd 2012 - 03:43 UTC
“A coup against democracy” organized by the political class and mafia claims Lugo

Ousted Paraguayan President Fernando Lugo addressed thousands of citizens outside the presidential palace and assured there had been a “coup against democracy” but also said he would respect the formality of the Senate’s decision and called on followers to march peacefully.
Saturday, June 23rd 2012 - 03:35 UTC
Uruguay hosts highest Chinese official to ever visit the country

Chinese Premier Wen Jiabao arrived in Uruguay Friday, his first stop on a multi-nation visit to South America. Wen's arrival marks the first time a Chinese premier has visited Uruguay since diplomatic ties were established in 1988.
Saturday, June 23rd 2012 - 03:25 UTC
Mercosur/Unasur anticipate “appropriate measures” against coup in Paraguay

President Cristina Fernández assured on Friday night that “Argentina does not condone the coup in Paraguay” and anticipated that “appropriate measures” will be taken at next week’s Mercosur Summit, scheduled to take place in Mendoza.
Friday, June 22nd 2012 - 23:30 UTC
UN Rio+20 summit to redefine sustainable development for mega-cities

By Lord Julian Hunt - One of the most striking changes at Rio+20, compared to the original 1992 Earth Summit, is the extensive discussion of population issues.
Friday, June 22nd 2012 - 22:41 UTC
Hot air about the Falkland Islands reaches the UN

By John J. Metzler (*) At the time of the 1982 invasion, Argentina was run by a military junta who unwisely played the nationalism card and seized the islands 300 miles off the coast of South America.
Friday, June 22nd 2012 - 21:59 UTC
“Institutional coup” removes Paraguayan president Lugo from office

Paraguayan president Fernando Lugo was removed from office on Friday at 18:30 hours following an impeachment vote in the Senate where the motion was supported by 39 votes, four against and two absent.
Friday, June 22nd 2012 - 08:40 UTC
Argentina experiences tighter trade surplus and slower industrial growth in May

Argentina’s trade surplus was 1.5 billion dollars in May, compared to 1.71bn a year earlier according to the official stats office Indec, while industrial production in the same month continued to languish, according to the medium estimate of more than 50 banks, economic research firms and universities surveyed by the Central Bank.