Politics

• Sunday, May 22nd 2011 - 12:58 UTC

  Standard & Poor’s ‘yellow card’ for Italy; promise of balanced budget in 2014

  

  Italy’s Treasury said it will “intensify” structural changes in the economy and push ahead with measures to balance the budget by 2014 after Standard & Poor’s said its debt rating is at risk of a downgrade.

• Sunday, May 22nd 2011 - 12:48 UTC

  London and Madrid address Spanish incursions into Gibraltar waters

  

  British Foreign Minister William Hague raised the UK’s concerns over Spanish incursions into Gibraltar waters during a meeting with his Spanish counterpart last February, according to a response to a question in the House of Lords.

• Sunday, May 22nd 2011 - 12:40 UTC

  Rousseff’s main advisor describes Brazil/Argentina relations as “fine”

  

  Brazilian president Dilma Rousseff's international affairs advisor Marco Aurélio García lowered the tone of the trade conflict with Argentina and said that the relationship between both countries “is fine” despite the trade barriers that Brazil imposed on the import of Argentine cars.

• Sunday, May 22nd 2011 - 12:32 UTC

  European powers endorse French minister Lagarde as next IMF chief

  

  European leaders raced Saturday to nominate a successor for fallen IMF chief Dominique Strauss-Kahn before a G8 summit in France next week, with French Economy Minister Christine Lagarde in pole position.

• Saturday, May 21st 2011 - 10:18 UTC

  Delhi proposal to triangle South Africa Customs Union, India and Mercosur

  

  India will be launching negotiations for a comprehensive economic cooperation agreement (CECA) with Mercosur although it will first “expedite” talks for a preferential trade agreement with the South African Customs Union (SACU).

• Saturday, May 21st 2011 - 10:15 UTC

  IMF should have a new Managing Director by June 30

  

  The International Monetary Fund said on Friday that it is scheduled to complete the process of selecting a new managing director by June 30.

• Saturday, May 21st 2011 - 10:04 UTC

  Argentine organized labour will support CFK but “without being obsequious”

  

  Argentina’s organized labour said “there are no differences in the relationship with the government” despite President Cristina Fernandez de Kirchner, CFK criticisms and further stated that they will support the president’s re-election bid “without being obsequious”.

• Saturday, May 21st 2011 - 09:59 UTC

  Argentina posts strong primary surplus pushed by economic growth and inflation

  

  Argentina posted a primary budget surplus 1.97 billion Pesos (455 million US dollars) in April, up 4.8% from the 1.88 billion Peso surplus a year earlier, the government said on Thursday.

• Saturday, May 21st 2011 - 09:56 UTC

  Spaniards take to cities’ plazas and call for a protest no-vote in Sunday’s local elections

  

  Tens of thousands of Spaniards angry over unemployment protested for a sixth day, ahead of Sunday's local elections in which the ruling Socialists are expected to suffer heavy losses.

• Saturday, May 21st 2011 - 09:45 UTC

  Lipsky calls for continued support for ‘shaky’ economies in Europe

  

  The global economic recovery is accelerating but remains vulnerable to setbacks said IMF acting Managing Director John Lipsky said as he urged continued international support for shaky economies in Europe.