International

Thursday, October 27th 2011 - 23:34 UTC
Euro zone largest bank profits down as bad loans in Spain keep growing

The Euro zone's biggest bank Santander said it expected bad loans in Spain to keep on growing as Spaniards, blighted by unemployment and heavy mortgage debt, fall into arrears on payments.
Thursday, October 27th 2011 - 23:31 UTC
China ready to support Euro rescue fund and held stabilize global markets

French president Nicolas Sarkozy conferred with his Chinese counterpart Hu Jintao as European policy makers seek to build support for an enlarged rescue fund designed to resolve the region’s sovereign-debt crisis.
Thursday, October 27th 2011 - 15:57 UTC
France praises Argentina justice system over the sentencing of Astiz

French Foreign Affairs Minister, Alain Juppé praised on Thursday the life sentence declared by the Argentine justice system against former navy spy, Alfredo Astiz, for the crimes against humanity, tortures and kidnappings he committed during the last military dictatorship. Juppé said the decision “honours Argentina.”
Thursday, October 27th 2011 - 06:05 UTC
EU leaders reach a deal on Greek debt and boosting bailout fund to 1.4 trillion

European Union leaders announced an agreement early Thursday in Brussels on debt crisis measures including a hard-fought deal with private sector investors to write down Greek bonds by 50%.
Thursday, October 27th 2011 - 05:52 UTC
In anticipation of global crisis World Bank extends 260m loan to Uruguay

The World Bank Board approved a 260 million dollars loan to support the Uruguayan government’s reform program in order to consolidate growth with social equity and provide a line of financing to address the impact of the current uncertainty in global economic affairs.
Wednesday, October 26th 2011 - 15:22 UTC
Strong support for Merkel ahead of the Euro bail out summit

Germany's Bundestag lower house of parliament approved on Wednesday a motion to strengthen the Euro zone rescue fund via leveraging, providing Chancellor Angela Merkel with the mandate she needs to negotiate at a key Euro summit in Brussels.
Wednesday, October 26th 2011 - 15:18 UTC
WTO warns protectionism is gaining ground “as a political reaction” to economic difficulties

Economic pressures are tempting G20 governments to resort to protectionism in a misguided bid to shield their domestic markets from problems that are unrelated to trade, the World Trade Organization said in a biannual report Wednesday.
Wednesday, October 26th 2011 - 02:47 UTC
Iran blames the West for the killing of Gaddafi and ‘plundering’ Libya

Western countries supported Muammar Gaddafi when it suited them but bombed the Libyan leader when he no longer served their purpose in order to “plunder” the north African country's oil wealth, Iranian President Mahmoud Ahmadinejad said on Tuesday.
Wednesday, October 26th 2011 - 02:45 UTC
Euro zone bailout summit outcome in doubt; Italian government on the brink

Italy's cabinet failed on Tuesday to agree on pension reforms as the country seeks to re-launch its economy and tackle its debt. Meanwhile, financial markets nervously await the outcome of Wednesday's second Euro zone summit.
Tuesday, October 25th 2011 - 04:26 UTC
German parliament joins discussion on Euro rescue plan

Germany's political opposition has succeeded in ensuring plans to enhance Europe's bailout fund be brought to a vote in parliament on Wednesday. The decision came after the Bundestag's plenary session rejected the opposition's demands for an open debate just Friday.