Politics

• Monday, March 1st 2010 - 05:52 UTC

  Euro’s most crucial week since creation; Greece closer to an IMF rescue

  

  German Chancellor Angela Merkel warned Sunday that the Euro is facing its most serious crisis since its launch a decade ago. The comment comes as European Union officials prepare to visit Athens Monday amid reports of an EU bailout whose effects could lead to further debt crises in the continent's troubled south.

• Monday, March 1st 2010 - 05:39 UTC

  Chilean government admits tsunami-alert “diagnostic” system failed

  

  Chile's government conceded it made a mistake in initially playing down the risk of a tsunami from Saturday's massive earthquake. At a news conference in Santiago, Defence minister Francisco Vidal blamed the navy for what he called a “diagnostic error”.

• Monday, March 1st 2010 - 05:33 UTC

  Chile calls for aid and sends troops to prevent looting; body count reaches 710

  

  Chilean President Michelle Bachelet announced emergency measures to deal with the destruction caused by Saturday's massive earthquake. The 8.8 magnitude quake - one of the most powerful recorded - devastated central parts of the country, killing more than 710 people and leaving an estimated 2 million people out in the streets.

• Monday, March 1st 2010 - 05:24 UTC

  If Mercosur is failing, “we are doing something wrong”, said Mujica

  

  Uruguay’s president elect Jose Mujica who takes office Monday March first admitted that Mercosur is “failing” because “we are doing something wrong”, but was enthusiastic about Latinamerican integration and praised Argentina, a country where “Uruguayans are not foreigners”.

• Monday, March 1st 2010 - 01:39 UTC

  Argentina warns BHP Billiton about drilling in Falklands’ waters

  

  Argentina's ambassador to Australia says Melbourne based mining group BHP Billiton will face business sanctions if it pushes ahead with oil exploration in Falklands waters. BHP has a licence to explore off the Falkland Islands and is scheduled to start doing so in the next four months, reports Australian Broadcasting Corporation.

• Saturday, February 27th 2010 - 08:16 UTC

  Brazilian central bank prepares to withdraw stimulus measures and liquidity

  

  The Brazilian Central bank’s decision to raise reserve requirements this week will have an impact on monetary policy, admitted the bank’s governor Henrique Meirelles in an interview with the financial publication Valor Economico.

• Saturday, February 27th 2010 - 07:50 UTC

  Brazil could ban “Naughty blonde” beer ad featuring Paris Hilton

  

  Paris Hilton is causing a stir in Brazil, where a government department has claimed a one minute beer commercial in which she stars is demeaning to women, particularly blondes.

• Saturday, February 27th 2010 - 07:37 UTC

  Colombian president barred from running for a third consecutive mandate

  

  The Colombian Constitutional Court ruled Friday against holding a referendum that could have cleared the way for President Alvaro Uribe to run for a third consecutive term.

• Saturday, February 27th 2010 - 07:31 UTC

  Falklands a “bilateral issue between Argentina and UK”, insists Washington

  

  The Falkland Islands and the political figure of President Barak Obama were among the issues addressed by United States Assistant Secretary for Western Hemisphere Affairs Arturo Valenzuela during a Friday mid day press conference in anticipation of Secretary of State Hillary Clinton’s trip to five countries of the region.

• Saturday, February 27th 2010 - 07:21 UTC

  Greek/German row leads to claims of World War II compensations

  

  Greek Deputy Prime Minister Theodoros Pangalos has accused Germany of failing to compensate Greece for Nazi occupation during World War II. Mr Pangalos made the remarks during a wide-ranging BBC interview about Greece's financial difficulties.