International

• Thursday, May 13th 2010 - 21:17 UTC

  EU Confirms Re-Launching of Trade Talks with Mercosur at Madrid Summit

  

  The European Union and Mercosur will officially re-launch negotiations for a trade and cooperation agreement they have been discussing since 1999 in the coming Madrid summit, in spite of fears about their farm sectors from several European countries, said the EU representative for Paraguay and Uruguay.

• Thursday, May 13th 2010 - 11:09 UTC

  Ten “Grumpy” Countries Challenge Resumption of EU/Mercosur Trade Talks

  

  Ten European countries, fearing the impact on agriculture, are openly challenging the EU decision to resume trade talks with Mercosur which is to be officially announced next Monday when the opening of the Latin America, the Caribbean and the European Union Summit in Spain.

• Thursday, May 13th 2010 - 11:04 UTC

  The New “British Foreign Policy” Promised by Secretary William Hague

  

  The new British Foreign Secretary William Hague lost no time in declaring that he would run a “distinctively British foreign policy.”

• Thursday, May 13th 2010 - 11:01 UTC

  Europe Calls on Bulgaria, Cyprus, Denmark and Finland to Reduce Budget Deficits

  

  Government deficits in Bulgaria, Cyprus, Denmark and Finland have gone too far over the 3% of GDP reference value for the European Union and need to be brought down through stronger budget consolidation measures, concluded the European Commission in reports considered on Wednesday.

• Wednesday, May 12th 2010 - 22:15 UTC

  Spain Under Pressure from Europe Unveils Drastic Cuts to Contain Budget Crisis

  

  Under pressure from Europe to deliver (shape up or ship out) Spain's PM has outlined a plan to tackle the country's budget crisis, amid concerns that problems afflicting Greece may spread across the Eurozone.

• Wednesday, May 12th 2010 - 07:18 UTC

  Chile’s Piñera to Address Business Leaders Previous to Latam/EU Summit

  

  Chile’s president Sebastian Piñera has a busy schedule planned for the upcoming Latin America, the Caribbean and the European Union Summit scheduled for Madrid early next week. Piñera will use the opportunity to explain exactly what he wants to do with his four years of presidency.

• Wednesday, May 12th 2010 - 07:16 UTC

  China April Inflation Accelerates and Property Prices Jump 12.8%

  

  April inflation in China has accelerated as bank lending exceeded estimates and property prices jumped by a record, increasing pressure on the government to raise interest rates and let the currency appreciate.

• Wednesday, May 12th 2010 - 07:09 UTC

  World Markets Lower After Taking a Second Look at Euro Rescue Plan

  

  United States shares closed lower on Tuesday as global stock markets stalled on niggling worries over European debt problems. On Wall Street, the Dow Jones index closed down 0.34% following a turbulent day's trading, and a nearly 4% rise on Monday.

• Wednesday, May 12th 2010 - 03:54 UTC

  IMF: Euro Countries Must Focus on Cutting Deficits; Denies “Blanket Commitment”

  

  European countries saddled with debt should focus on cutting deficits in the wake of policy makers' unprecedented efforts to contain the region's sovereign-debt crisis, said John Lipsky from the International Monetary Fund.

• Wednesday, May 12th 2010 - 01:20 UTC

  Bank of England “No-Change” Policy; Leaves Assets-Purchase Program at £ 200bn

  

  The Bank of England held interest rates at record lows as policy-makers weighed up the impact of a Eurozone bailout and a hung parliament. The Bank's Monetary Policy Committee voted to hold rates at 0.5% and left its £200 billion program to boost the money supply unchanged.