The European Union won the Nobel Peace Prize on Friday for promoting peace, democracy and human rights over six decades in an award seen as a morale boost as the bloc struggles to resolve its economic crisis.
Brazilian finance minister Guido Mantega said that resolving Europe’s economic problems are likely to drag out over coming years due to a complex and slow process of decision-making in the region and recommended emerging economies to promote domestic consumption and trade among them.
Moody's has lowered its outlook for the European Union's AAA credit rating to negative and warned that the bloc's rating could be downgraded. The move reflected the negative outlook for the ratings of the EU key budget contributors.
Only about a quarter of ordinary Germans are in favor of debt-stricken Greece remaining in the Euro area, a poll published by the Financial Times on Monday indicated. It revealed strong reluctance to grant Greece yet another bailout installment.
Argentina on Thursday officially lodged a dispute against US restrictions on imports of Argentinean beef and other meat products, the World Trade Organization (WTO) said on Friday.
The European Union threatened on Wednesday to impose tariffs on bio-diesel imported from Argentina and also Indonesia. The announcement was made today on the bloc’s Official Gazette.
The Atlanta based Carter Centre said this week that it declined an invitation from Venezuela's National Electoral Council to have a team at the country's Oct. 7 presidential election. The Centre said it received the invitation too late ”to evaluate it and organize the necessary experts and financing”.
Sunflower seed production in the European Union, Ukraine and Russia will drop 11.7% to a total of 24.82 million tons this year, from 28.12 million tons a year ago, Hamburg-based oilseed analyst Oil World said on Tuesday.
A top official from the European Commission was particularly critical of the credit risk rating agencies in their handling of the Euro crisis and Germany brushed aside the latest rating agencies announcement saying the country is in a very sound economic and financial situation.
The Euro zone will have to get powers to limit the debt issuance of its members, intervene in national budgets and change national policies to build a deeper economic union, ECB Executive Board Member Joerg Asmussen said.