International

• Wednesday, December 21st 2011 - 05:34 UTC

  Mercosur signs free trade agreement with Palestinian Authority

  

  Mercosur signed a free trade agreement with the Palestinian Authority on Tuesday, the first between the territories and a block of nations outside the Arab world. The ceremony took place during Mercosur presidential summit in Montevideo.

• Wednesday, December 21st 2011 - 02:26 UTC

  Congress votes Rajoy PM who anticipates even tougher austerity measures

  

  Spanish lawmakers voted Tuesday to make conservative leader Mariano Rajoy the new prime minister, approving his program of sweeping budget cuts and tough economic reforms.

• Wednesday, December 21st 2011 - 00:52 UTC

  Britain skips contribution to the IMF for a Euro zone bailout fund

  

  Britain’s refusal to contribute to the IMF for a Euro zone bailout fund has left the EU short of its 200 billion Euro target. The UK boycott leaves the Euro zone more reliant than ever on major economies such China and on Russia, which are willing to lend more to the IMF.

• Wednesday, December 21st 2011 - 00:48 UTC

  ”Gibraltar at this moment, a minor issue” says Spanish Conservative think-tank

  

  A senior director at a Conservative think-tank founded by Jose Maria Aznar, Spain’s former Popular Party prime minister, said Gibraltar was low on the list of priorities for Madrid, particularly at a time of crisis when it needed the UK as an ally.

• Wednesday, December 21st 2011 - 00:45 UTC

  UK readies plan for ex-pats evacuation in the event of Spain and Portugal banking collapse

  

  Gibraltar could play a role in contingency plans drawn up by the Foreign Office to evacuate British expatriates in the event of a banking collapse in Spain and Portugal, according to the Sunday Times.

• Tuesday, December 20th 2011 - 22:43 UTC

  Moody's praises UK management but warns of “formidable and rising challenges”

  

  Ratings agency Moody's has given the UK high scores for economic governance but warns the country it faces “formidable and rising challenges”.

• Tuesday, December 20th 2011 - 19:28 UTC

  Mercosur summit suspended following suicide of a top Argentine official

  

  The Mercosur presidential summit in Montevideo has been temporarily suspended following the news that a member of the Argentine delegation had committed suicide which left delegation members in a state of shock.

• Tuesday, December 20th 2011 - 07:31 UTC

  Inter American Bank will hold annual meeting in Montevideo, next March

  

  The Inter-American Development Bank (IDB) will hold its Annual Meeting in Montevideo, Uruguay March 16-19, drawing top economic decision-makers from its 48 member countries, including finance ministers and central bank presidents.

• Tuesday, December 20th 2011 - 07:25 UTC

  Malvinas jurisdictional acts are ‘invalid’ for Uruguay, but UK flagged vessels welcomed in Montevideo

  

  “Any jurisdictional acts coming from Malvinas is invalid for us” and therefore Malvinas flagged vessels are barred from Uruguayan ports, a decision which is extensive to all Unasur members, said Uruguayan Foreign Affairs minister Luis Almagro.

• Tuesday, December 20th 2011 - 01:07 UTC

  IMF chief tells developing countries to prepare for three possible storms

  

  IMF Managing director Christine Lagarde urged on Monday developing countries to shore up their defences, especially foreign exchange reserves, against a possible European recession next year.