Economy

• Friday, November 4th 2011 - 00:19 UTC

  Buenos Aires think-tank says recession probability in Argentina has reached 70%

  

  An Argentine think tank, the Centre of Financial Research, CIF, from the Torcuato Di Tella University School of Business in its latest release shows that Argentina’s probability of entering a recession reached 70%.

• Friday, November 4th 2011 - 00:14 UTC

  If Greece leaves the Euro, it must also quit the EU, warns Brussels

  

  If Greece decided to leave the Euro, it would also have to quit the European Union, according to the terms of the EU treaties, the European Commission said on Thursday.

• Thursday, November 3rd 2011 - 08:17 UTC

  BRICS ‘leaders scheduled to decide on common stance before the G20 summit'

  

  Brazilian president Dilma Rousseff said that solutions to European and global economic difficulties need to promote economic growth and employment. Ms Rousseff arrived Wednesday in France for the summit of G-20 leaders this week, but before will be meeting with peers from the BRICS group to work out a common stance.

• Thursday, November 3rd 2011 - 08:09 UTC

  Greek surprise freezes China’s commitment to the Euro plan

  

  China has said it cannot commit to investing in the European Financial Stability Fund (EFSF) until the situation with Greece has been clarified. European leaders hoped that China would buy EFSF bonds, injecting capital in the region's financial markets.

• Thursday, November 3rd 2011 - 07:55 UTC

  Fitch warns Argentina on foreign exchange controls and inflation

  

  Fitch Ratings agency warned Wednesday that Argentina’s new dollar controls and measures aimed at curbing capital flight could narrow Cristina Fernández political options range.Likewise, the agency stated in the communiqué that the “continuity of such unorthodox policies represent nothing but risk.”

• Thursday, November 3rd 2011 - 07:45 UTC

  Sarkozy tells the Greeks: shape up or ship out from the Euro zone

  

  Greece will receive no more European bailout aid until it has put an end to uncertainty and agreed to meet its commitments to the Euro zone, the leaders of France and Germany said on Wednesday.

• Wednesday, November 2nd 2011 - 20:54 UTC

  Brazil receives 8bn dollars loan to lift another 16 million people from ‘misery’

  

  Brazil will receive 8 billion dollars in financing from the World Bank to push its campaign to uproot extreme hardship deeper into some of the country's poorest areas, the bank said on Wednesday.

• Wednesday, November 2nd 2011 - 20:35 UTC

  Germany/France lashes out at Papandreou and establish mid-December deadline

  

  Germany and France told Greece on Wednesday it should make up its mind by mid-December whether it wants to stay in the Euro zone when Greeks vote on a 130-billion-Euro bailout.

• Wednesday, November 2nd 2011 - 20:26 UTC

  “End of subsidies with no utility rates modifications” announces Argentina

  

  Economy Minister Amado Boudou and Planning Minister Julio de Vido announced Wednesday in a press briefing, a full lift on subsidies; a decision which will reach various public sectors, including electricity gas and water companies. The changes imply annual fiscal savings of 600 million pesos (140 million dollars).

• Wednesday, November 2nd 2011 - 18:08 UTC

  Federal Reserve in upbeat tone votes to maintain bond buying program

  

  The US Federal Reserve announced Wednesday after a two-day meeting to keep interest rates on hold and maintain its bond buying programs. The decision was entirely as expected by markets and economists.