Economy

• Thursday, June 28th 2012 - 01:14 UTC

  Bipartisan support for the EU bailout fund ESM in the German Bundestag

  

  The budget committee of Germany's lower house of parliament, the Bundestag, on Wednesday approved with a large majority the bills on the European permanent bailout fund ESM and the EU fiscal compact, it was reported in the Berlin media quoting a source who attended the committee meeting.

• Wednesday, June 27th 2012 - 21:56 UTC

  Brazil going “to bus” its way out of the economic slowdown

  

  The Brazilian government plans to buy over a third of the country’s output of buses and reduce borrowing costs for state-funded investments to a record as part of a new round of measures to revive stalled growth.

• Wednesday, June 27th 2012 - 20:36 UTC

  The man who steered Greece into the Euro zone is back on the helm

  

  The Greek government has appointed a new finance minister after its first choice resigned due to ill health less than a week after being appointed. Economist Yannis Stournaras has now been appointed, the government said.

• Wednesday, June 27th 2012 - 17:19 UTC

  Uruguay’s fiscal performance exposed to “political limitations”, says S&P report

  

  Risk rating agency Standard & Poor’s praised Uruguay’s fiscal moderation in the last eight years since the budget’s fiscal deficit has been below 2% of GDP but criticized the “political limitations” which impede the achievement of a better performance.

• Wednesday, June 27th 2012 - 08:51 UTC

  Italian treasury to the rescue of the world’s oldest bank, Monte dei Pachi

  

  Italy offered up to 2 billion Euros on Tuesday to plug a capital gap in the bank Monte dei Paschi di Siena, the second time in three years the cash-strapped state has had to bail out the world's oldest bank.

• Wednesday, June 27th 2012 - 08:32 UTC

  Mexico preparing WTO case against Argentina over suspension of auto trade accord

  

  Mexico is prepared to take legal actions against Argentina after the government of President Cristina Fernandez announced its decision “to suspend” an automobile trade agreement.

• Wednesday, June 27th 2012 - 08:25 UTC

  Argentina reiterates it will honour bonds maturing in August and December

  

  Argentina will pay back 5.716 billion dollars in bonds maturing next August and December, several of them tied to GDP evolution, confirmed president Cristina Fernandez.

• Wednesday, June 27th 2012 - 08:14 UTC

  First organized labour national strike challenges President Cristina Fernandez

  

  For the first time in decades the powerful Argentine organized labour movement has confirmed it is going ahead with a much debated national strike against a Peronist government, which allegedly rests on support precisely from the unions and a long history of generous labour legislation.

• Tuesday, June 26th 2012 - 22:37 UTC

  Spanish regions cripple Madrid’s attempts to keep budget deficit target

  

  Spain is considering raising consumer, energy and property taxes, the government said, as it struggles to reduce a public deficit that may have already exceeded one of its budgeted ceilings for the full year.

• Tuesday, June 26th 2012 - 06:32 UTC

  Argentina/China sign a raft of agreements to boost trade and investment

  

  Argentina signed with China a raft of mostly farm-related agreements at a ceremony on Monday in Buenos Aires attended by Chinese Premier Wen Jiabao and his Argentine president Cristina Fernandez.