The European Central Bank said it was ready to cut interest rates or pump more money into the Euro zone economy if necessary to bring money market rates down and help the Euro zone's economic recovery. ECB chief Mario Draghi said the policymaking Governing Council did discuss a possible rate cut at its monthly meeting, partly due to concern about money market rates and the uncertain very green nature of the recovery.
Britain’s relationship with Spain could be damaged by the ongoing dispute over Gibraltar, Europe Minister David Lidington warned. Lidington told the Financial Times there was a danger the row would overshadow all other parts of the Anglo-Spanish relationship. “There is clearly a risk that this will cloud the bilateral relationship,” he said.
Falkland Islands lawmaker Ian Hansen together with political leaders of another seven UK Overseas Territories will be in Gibraltar to celebrate National Day next week, 10 September.
Iran's trade with Argentina grew last year while trade with Brazil declined, according to an analysis by online business publication Latinvex based on data from the IMF. Iran's total trade with Latin America grew by 0.9% to 4 billion dollars in 2012. Brazil and Argentina still dominate Iran's trade with Latin America, accounting for 93% of the region's total trade with the Persian country.
South Africans working at the British Overseas Territory of St Helena airport have gone on strike, in what is thought to be the first industrial action on the island in half a century, according to the local news. It is understood they are in dispute over employment terms and conditions.
After arriving in Russia for the two-day G20 summit, Argentine President Cristina Fernández stressed she will be addressing the “vulture funds issue” during the summit despite the US rejected to mention it in the final statement.
International Olympic Committee President Jacques Rogge said his organization and future games hosts must overcome the challenge of convincing the wider public about the benefits of staging sports’ biggest event.
Over the past decade China has become a key partner for Latin America and the Caribbean with bilateral trade increasing 22 fold between 2000 and 2012, albeit with a strong deficit for Latin American countries, according to Alicia Bárcena, Executive Secretary of the UN Economic Commission for Latin America and the Caribbean.
“A recent decision by a United States appeals court threatens to upend global sovereign-debt markets. It may even lead to the US no longer being viewed as a good place to issue sovereign debt. At the very least, it renders non-viable all debt restructurings under the standard debt contracts.
Advanced economies led by the United States will increasingly drive global growth while emerging countries are at risk of slowing due to tighter US monetary policy, the IMF said in a note according to Reuters news agency.