Economy

• Monday, September 26th 2011 - 17:15 UTC

  Greek minister denies talks with IMF and EXB for an “orderly default”

  

  Greek Finance Minister Evangelos Venizelos dismissed reports that he has discussed a scenario of an orderly default by Athens with International Monetary Fund Chief Christine Lagarde and European Central Bank head Jean-Claude Trichet.

• Monday, September 26th 2011 - 06:45 UTC

  Given global crises Argentina urges region countries “to implement their own solutions”

  

  Argentine Economy Minister Amado Boudou urged countries in the region to “seize the opportunity created as a result of the crisis affecting developed nations and implement their own solutions.”

• Monday, September 26th 2011 - 06:34 UTC

  IMF insists Argentina must improve measuring inflation method

  

  Nicolas Eyzaguirre, the IMF director for Latin America, stated that Argentina must apply “major measures” to improve its method of measuring the inflation.

• Monday, September 26th 2011 - 06:27 UTC

  The Economist analyzes trade restrictions (protectionism) in Argentina and Brazil

  

  The Economist in its latest edition has a two-chapter piece on trade restrictions imposed by South America’s two biggest economies. The first (“Keep Out”) refers to Argentina and the second (“A self made siege’) to Brazil.

• Monday, September 26th 2011 - 04:43 UTC

  Argentine inflation controversy reaches the courts: Judge subpoenaed reporters

  

  An Argentine Judge has subpoenaed six newspapers for the names and phone numbers of all reporters and editors who have covered Argentina's economy the past five years, so they can be called as witnesses against their sources.

• Monday, September 26th 2011 - 03:58 UTC

  Huge blackout exposes vulnerability of world’s main copper supplier energy grid

  

  A massive power blackout on Saturday paralyzed crucial copper mines in Chile and darkened vast swaths of the country including the capital Santiago before energy started to be restored, officials said.

• Monday, September 26th 2011 - 03:27 UTC

  Latin America situation ‘solid’ but not ‘immune’; watch the fiscal front, says IMF

  

  The head of the IMF for the Western Hemisphere Department Nicolás Eyzaguirre discards an outflow of capitals from Latin America as a consequence of the current global situation and pointed out that the region’s position is solid.

• Saturday, September 24th 2011 - 22:13 UTC

  Geithner calls on the Euro zone for a ‘firewall’ against the crisis spreading

  

  US Treasury Secretary Timothy Geithner has called on European leaders to take urgent new steps to create a 'firewall' against the crisis spreading. He added that decisions on how to tackle Euro zone debt could not wait “until the crisis gets more severe”.

• Saturday, September 24th 2011 - 22:11 UTC

  US regulators close more banks with failures so far this year totalling 73

  

  United States regulators on Friday closed banks in Virginia and California, lifting to 73 the number of US bank failures this year. The number of closures has dropped significantly this year as banks have worked their way through the bad debt accumulated in the recession. By this time last year, regulators had shuttered 127 banks.

• Saturday, September 24th 2011 - 21:45 UTC

  Major purge in UBS; main shareholder Singapore fund demands tighter controls

  

  Swiss bank UBS's Chief Executive Oswald Gruebel resigned, shouldering the blame after its scandal-hit investment banking business lost 2.3 billion dollars in alleged rogue trading.