Economy

• Friday, September 23rd 2011 - 23:12 UTC

  European banks have already received 420 billion Euros, reveals EC

  

  “The recapitalization of European banks is something that is ongoing, it is something that is already happening,” Commission spokesman Olivier Bailly told a regular briefing.

• Friday, September 23rd 2011 - 22:29 UTC

  Greece’s ‘orderly default’ with 50% haircut for bondholders round the corner

  

  Greek Finance Minister Evangelos Venizelos was quoted by two newspapers as saying an orderly default with a 50% haircut for bondholders was one of three possible scenarios for resolving the heavily indebted euro zone nation's fiscal woes.

• Friday, September 23rd 2011 - 21:52 UTC

  Brazilian aircraft and radars to combat drug trafficking in Central America

  

  Guatemala will purchase six Brazilian military aircraft Super Tucano, radars and other equipment to combat the narcotics trade traffic of which the Central American country is considered a crucial link between South America and the United States.

• Friday, September 23rd 2011 - 08:00 UTC

  Uruguay could reconsider links with Mercosur given obstacles to inter-trade

  

  Uruguay is reconsidering the situation and links with Mercosur, given the recent trade obstacles and tariffs imposed by Mercosur senior partners Brazil and Argentina, announced President Jose Mujica in an interview.

• Friday, September 23rd 2011 - 07:45 UTC

  Argentine central bank dismisses IMF warning on risk of overheating economies

  

  The Argentine Central Bank Governor Mercedes Marcó del Pont dismissed the IMF’s warning on the risk of overheating economies in developing countries.

• Friday, September 23rd 2011 - 07:33 UTC

  Greek default would expose European banks in 300 billion Euros

  

  History's first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo's mythical birthplace.

• Friday, September 23rd 2011 - 07:27 UTC

  US and EU markets negative sentiment extends to Asian stocks with record losses

  

  Asian stocks have fallen on Friday, with some indexes driving towards their worst weekly losses since 2008. The Group of 20 nations said they were ready to preserve stability in the financial markets.

• Friday, September 23rd 2011 - 07:24 UTC

  Euro debt crisis and US political division ‘biggest threats’ to global economy

  

  US Treasury Secretary Timothy Geithner said that the European debt crisis and the political divisions in the United States were the biggest threats to the global economy.

• Friday, September 23rd 2011 - 01:41 UTC

  IMF chief wants “constructive dialogue” with Argentina but warns about stats

  

  The head of the International Monetary Fund, Christine Lagarde, said on Thursday that she wants a “constructive dialogue” with Argentina, while at the same time warned that she is not willing to make any “concessions” in terms of the quality of official data the IMF receives from member countries.

• Thursday, September 22nd 2011 - 22:42 UTC

  Brazil’s August unemployment stable at 6% in tight labour market

  

  Brazil’s unemployment rate remained unchanged at 6% in August, a record low for the month while average real wages rose 0.5% from the previous months to 1,629.40 Reais (839.16 US dollars) a month, the government statistics agency IBGE report showed.