Economy

• Thursday, December 8th 2011 - 06:55 UTC

  Euro Day: EU leaders won’t leave Brussels summit until agreement is reached

  

  Pessimistic comments from Germany and new figures exposing deepening stress among Europe's banks dented financial market hopes of a turning point in the Euro zone's debt crisis at a summit this week.

• Thursday, December 8th 2011 - 06:49 UTC

  “Getting rid of credit rating agencies is imperative”, says top Argentine official

  

  Argentine Economy Minister and Vice-President-elect Amado Boudou charged against credit-rating agencies and accused them of being “a source and transmission of problems,” warning that “as long as they exist, resources will continue to flow from those who have less to those who have more.”

• Thursday, December 8th 2011 - 06:47 UTC

  Capital flight in Argentina doubles to 18 billon dollars in nine months of 2011

  

  Argentine capital flight accelerated to the fastest pace in at least 10 years in the third quarter as investors concerned about inflation and a weakening Peso pulled cash out of South America’s second-biggest economy.

• Thursday, December 8th 2011 - 06:44 UTC

  Argentine central bank confirms pro-active policies and competitive Peso

  

  Argentine Central Bank Governor Mercedes Marcó del Pont assured on Wednesday that the flight of dollar deposits from the local financial system has slowed down and highlighted the fact that Government’s policy of regulated exchange rate has given “certainty” to savers and investors. She also forecasted 6% growth next year for the Argentine economy.

• Thursday, December 8th 2011 - 06:41 UTC

  US about turn: now it supports loans to Argentina in multilateral credit organizations

  

  The Inter-American Development Bank (IDB) announced on Wednesday the unanimous approval of a 400 million dollar credit to Argentina in order to improve the infrastructure of the country’s poor neighbourhoods.

• Thursday, December 8th 2011 - 06:24 UTC

  Mujica: like street kids, beg money in every crossing and corner for the sake of science

  

  “Uruguay must act like the kids begging in the corners and traffic light crossings, asking for a dime from whoever” said President Jose Pepe Mujica on recalling the importance of funds from what ever origin to sponsor and promote scientific research.

• Wednesday, December 7th 2011 - 22:17 UTC

  Canada launches Ministerial Dialogue for greater engagement with the Americas

  

  The Canadian government launched on Wednesday the First Ministerial Dialogue on the Americas with more than a hundred representatives from the private sector, academia, think tanks, civil society organizations and government.

• Wednesday, December 7th 2011 - 22:14 UTC

  China will target trade with Latam in 2012 to compensate drop with EU and US

  

  China will attempt to counterbalance the drop in exports to the European Union and the United States concentrating in emerging markets such as Latin America and Asia, said on Wednesday Wang Shouwen, head of International Trade from the Beijing Ministry of Trade.

• Wednesday, December 7th 2011 - 22:06 UTC

  Economics Nobel Prize winner predicted ten years ago Euro lack of “clear fiscal backing”

  

  The winner of the Nobel Prize in economics says that a decade ago he feared the Euro would face problems because there wasn't enough fiscal coordination between countries to support it.

• Wednesday, December 7th 2011 - 17:51 UTC

  EU cuts Argentina, Brazil, Chile and Uruguay from development aid

  

  The European Commission decided to cut aid from its 2014-2020 budget to 19 emerging economies including Brazil, Argentina, Uruguay and seven other Latin American countries, the EU development commissioner Andris Piebalgs said on Wednesday.