Uruguay received a huge political boost from Mexico (the same it was denied from its Mercosur partners under influence from Argentina) in its dispute with the recent G20 summit which through spokesperson French president Nicholas Sarkozy described Uruguay as a ‘fiscal haven’.
Uruguayan president Jose Mujica said that Mercosur “is not moving forward or backwards” but is certainly working much better than the European Union where old experienced nations “made a mess of it”. Nevertheless, Uruguay will not stay put “licking its wounds”, it will look for other trade links.
Uruguay had to stand up to a world power and deny dock access to a Royal Navy vessel on its way to the Falklands/Malvinas to retain good relations with Argentina, admitted the Uruguayan President Jose Mujica in Guadalajara where he met with members of the Uruguayan colony in Mexico.
Argentina will not take back the millions of Pesos that thousands of tourists spend in neighbouring Uruguay during the summer season. That was the reply to a request from Uruguay’s largest bank branch in the City of Buenos Aires, according to banking sources in Montevideo.
Uruguay won’t accept bids above 65 dollars a megawatt-hour from developers bidding to sell power from wind farms as concerns mount that rates have dropped too low.
Uruguayan president Jose Mujica arrived Tuesday in Mexico for a two day visit to promote bilateral trade and to address with his host Felipe Calderon issues related to recent discrepancies with the G20 that described Uruguay and Panama as “fiscal havens”.
If proof was ever needed that adversity leads to a greater determination to succeed, it has been amply provided in a recent trip by the Falkland Islands Senior Agricultural Advisor, “Mac” McArthur, on a trade mission and cultural visit to Uruguay.
Uruguay has become a net creditor of the International Monetary Fund and given this condition has helped in the bailing out of such countries as Ireland and Angola, revealed a top authority of the Central Bank during a hearing before the country’s Senate’s Finance Committee.
In the last eleven days the Argentine Peso has fallen almost 20% in neighbouring Uruguay where it has sounded alarm bells ahead of the coming season when hundreds of thousands of Argentines flood Uruguayan beaches.
The Secretary-General of the Ibero-American Secretariat Enrique Iglesias, warned Thursday that the EU crisis could reach as far as Asia and Latin America, and that preventive measures should be taken.