Economy

• Tuesday, May 18th 2010 - 04:20 UTC

  Argentine private sector recommends close monitoring of Brazilian indicators

  

  According to Argentina’s Finance Executives' Institute (IAEF) May report the country’s economy experienced an expansive boost during this year's first four months, thus somehow dodging the European and Euro crisis triggered by the Greek situation which could extend to the so called PIGS (Portugal, Ireland, Greece and Spain).

• Tuesday, May 18th 2010 - 01:02 UTC

  EU 27 and Latam/Caribbean 33 trade reached 140 billion Euros in 2009

  

  Between 2000 and 2009, the European Union 27 exports of goods to the 33 Latin American and Caribbean (LAC) countries grew more slowly than imports: exports rose from 59 billion Euro to 66 billion, while imports increased from 54 billion to 74 billion, according to a Europa press release on the eve of the Madrid summit.

• Monday, May 17th 2010 - 05:11 UTC

  Chavez trying to prevent speculation with US dollars

  

  Venezuelan President Hugo Chavez signed Sunday a currency law passed by the National Assembly this week that seeks to stem a decline in the local currency Bolívar, according to a broadcast on state television.

• Monday, May 17th 2010 - 01:46 UTC

  Europe living “truly dramatic times”, the most difficult since WWI, says Trichet

  

  European Central Bank President Jean-Claude Trichet called for more effective sanctions against countries violating the region’s Stability and Growth Pact and said the ECB acted independently when it bought government bonds, Spiegel magazine reported, citing an interview.

• Saturday, May 15th 2010 - 04:49 UTC

  World Stock Markets Plunge and Euro Falls to 18-Month Low

  

  World stock markets plunge Friday and the Euro hit an 18-month low against the dollar, on growing fears that the austerity packages unveiled across Europe could tip the continent back into recession and stifle global economic recovery.

• Saturday, May 15th 2010 - 04:39 UTC

  Volcker Fears Potential Disintegration of the Euro, Without Common Fiscal Policy

  

  Former Federal Reserve chairman and advisor of the Obama administration is concerned that the Euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members.

• Saturday, May 15th 2010 - 04:37 UTC

  IMF Warns Developed Countries on “Urgent” Need to Cut Budget Deficits

  

  The International Monetary Fund has warned developed nations they face an “urgent” need to cut their budget deficits. Its warning comes as a slew of European countries face public unrest over their attempts to do just that.

• Saturday, May 15th 2010 - 04:20 UTC

  German Economy Rebounds in the First Quarter of 2010 with 0.2% Expansion

  

  The German economy—Europe's largest—expanded 0.2% in the first quarter of 2010, beating forecasts of zero growth. Many analysts predicted German GDP would stagnate in the quarter.

• Friday, May 14th 2010 - 04:40 UTC

  Portugal Joins Euro Belt-Tightening Bandwagon but with Strong Political Support

  

  Portugal has become the latest country to introduce austerity measures, after both Greece and Spain took similar steps to stabilize public finances in the face of massive debt.

• Friday, May 14th 2010 - 04:34 UTC

  Mrs. Kirchner Promises to Refinance Provincial Government Debts

  

  The Argentine government said it will refinance 89% of the debt that most of the country’s provinces hold with the federal government, announced President Cristina Fernandez de Kirchner and Economy Minister Amado Boudou.