International

• Tuesday, June 1st 2010 - 01:43 UTC

  German president resigns on comments about military actions overseas

  

  German President Horst Koehler unexpectedly resigned due to a storm over comments he made about military action abroad in a move that could cause conservative Chancellor Angela Merkel a headache.

• Monday, May 31st 2010 - 04:20 UTC

  European weakened governments must address this week tough decisions

  

  Budget Minister Francois Baroin indicated on Sunday that France should not take for granted its AAA rating, which allows Paris to borrow relatively cheaply on international markets and finance its big budget deficit.

• Monday, May 31st 2010 - 04:04 UTC

  Experts warn Europe’s ‘austerity zeal’ could dampen anaemic recovery

  

  Experts are warning that European governments rush to cut budget deficits with draconian austerity measures could mean a blow for Europe's tentative economic recovery.

• Saturday, May 29th 2010 - 05:32 UTC

  Economics Nobel Prize Stiglitz favours regulation of risk rating agencies

  

  Economics Nobel Prize Joseph Stiglitz said it was time to end with the “authority” that countries have deposited in risk assessment agencies and which “have not done things correctly” and have been an essential factor in giving “the global crisis a nice boost”.

• Saturday, May 29th 2010 - 03:03 UTC

  Spain’s debt downgraded; Madrid lowers growth estimates 2010/2012

  

  Risk rating agency Fitch downgraded Spain’s sovereign debt on Friday one notch from AAA to AA+ with an outlook of stable, saying that the country’s economic recovery is likely to be difficult and prolonged.

• Saturday, May 29th 2010 - 01:35 UTC

  IMF raises global economic growth forecast to 4.25% in 2010

  

  The IMF sees global economic growth of 4.25% this year and next, “faster than previously expected,” the head of the multilateral lender said on Friday.

• Saturday, May 29th 2010 - 01:32 UTC

  Australia begins legal action in The Hague against Japan over whaling

  

  Australia has said it will begin legal action against Japan over whaling in the Antarctic. Canberra will argue that the annual whaling hunt in the Southern Ocean is in violation of an international ban on commercial whaling.

• Friday, May 28th 2010 - 04:53 UTC

  Brazil suggests Yuan and Real be included as IMF conversion currencies

  

  Brazilian Finance Minister Guido Mantega suggested the International Monetary Fund (IMF) include China's Yuan and Brazil's Real as conversion currencies for Special Drawing Rights (SDR) of the institution.

• Friday, May 28th 2010 - 04:37 UTC

  Sociologists Touraine and Bauman awarded the 2010 Prince of Asturias awards

  

  French Sociologists Alain Touraine and Polish born Zygmunt Bauman received on Thursday the 2010 Prince of Asturias Awards for Communication and Humanities.

• Friday, May 28th 2010 - 04:36 UTC

  World markets and Euro boosted by China’s supportive comments

  

  World stock markets soared strongly on Thursday, boosted by supportive comments from China on the strength of the Euro. The agency that manages the country's huge foreign assets said it was not rethinking its holdings in Euros.