Politics

Thursday, August 7th 2014 - 07:22 UTC
Global system used for sovereign-debt workouts remains badly in need of repair

By Kenneth Rogoff (*) - Argentina’s latest default poses unsettling questions for policymakers. True, the country’s periodic debt crises are often the result of self-destructive macroeconomic policies. But, this time, the default has been triggered by a significant shift in the international sovereign-debt regime
Thursday, August 7th 2014 - 07:02 UTC
Argentina closer to contempt of court as it suggests bondholders to change paymaster

New York district judge Thomas Griesa and the Argentine government are again on the collision course: while the magistrate has ordered the Bank of New York Mellon to retain the funds deposited by Argentina to pay exchange bondholders and declaring the payment “illegal”, the Ministry of Economy in Buenos Aires suggested bondholder should change BONY for a new intermediary institution.
Thursday, August 7th 2014 - 06:32 UTC
Mercosur trade deal is a priority for the EU under Italian presidency

Foreign minister Federica Mogherini pledged that under the current Italian presidency of the European Union, top priority will be given to signing the pending trade agreements, among which that with Mercosur still under discussion.
Thursday, August 7th 2014 - 06:01 UTC
“Malvinas dialogue” demands Argentine Patagonia governor in Wales

Underlining the close links between Wales and Argentine Patagonia, where many Welsh immigrants settled for the first time 150 years ago, Chubut governor Martin Buzzi called on the British government “to open a dialogue on the Malvinas Islands”.
Wednesday, August 6th 2014 - 08:54 UTC
US and India clash over food security clause at WTO and suspends TFA protocol

The failure of the two major players in global trade negotiations to bridge their differences has put paid to the adoption of the protocol of amendment for implementation of the contested Trade Facilitation Agreement (TFA) for the time being.
Wednesday, August 6th 2014 - 08:28 UTC
Plaza de Mayo Grand-mothers head finally gets to know her kidnapped grandson born in captivity

The 83-year-old head of the Argentine human rights movement which works to track down babies stolen by the country's brutal 1976-83 military dictatorship has found her grandson after a 35-year search, a relative said on Tuesday.
Wednesday, August 6th 2014 - 08:02 UTC
Argentina will demand Citibank and BONY to pay exchange bondholders

The Argentine Government will formally demand that Citibank and the Bank of New York Mellon pay exchange bondholders, the Economy Ministry informed on Tuesday in a press release.
Wednesday, August 6th 2014 - 07:57 UTC
Brazil denies any 'stagflation' and forecasts economy with 'reasonable' growth level in 2015

Brazil is far from stagflation, central bank chief Alexandre Tombini said on Tuesday, forecasting the economy will pick up speed and inflation will ease in coming months. In similar terms Economy minister Guido Mantega said the economy should pick up in the second half of the year after a slow start and hit more “reasonable” growth levels in 2015.
Wednesday, August 6th 2014 - 00:12 UTC
Paraguay sells 1 billion dollars in 30-year sovereign bonds

Paraguay sold 1bn (one billion) dollars in 30-year bonds on Monday in New York, its second international debt issue in less than two years. President Horacio Cartes said in a statement that the issue's 6.1% yield is unprecedented for the country, and that the proceeds will be used for highway, building and energy infrastructure, as well as agricultural production.
Wednesday, August 6th 2014 - 00:04 UTC
UK only Muslim minister resigns protesting 'morally indefensible' policy in Gaza

Sayeeda Warsi, a senior minister in Britain's Foreign Office, resigned on Tuesday, accusing Prime Minister David Cameron's government of taking a “morally indefensible” approach to the conflict between Israel and Hamas.