Uruguay

• Wednesday, July 4th 2012 - 06:05 UTC

  Inflation in Uruguay remains strong, reaches 4.13% in the first six months

  

  With a marginal descent, Uruguay’s annual inflation in the twelve months to June reached 8% compared to May’s, 8.06%, but still two percentage points above the Central bank upper cap target.

• Wednesday, July 4th 2012 - 03:04 UTC

  Uruguay leaves benchmark rate at 8.75% on persistent concern with inflation

  

  Uruguay's central bank held its benchmark interest rate steady at 8.75% on Tuesday, citing “reasonable” economic growth and persistent concern about inflation expectations above target.

• Wednesday, July 4th 2012 - 02:53 UTC

  Partly Canadian owned South American airline on the verge of bankruptcy

  

  Uruguay’s bankrupt flagship carrier Pluna decided on Tuesday to cancel all flights during 48 hours following an announcement from the union of a two-day strike to protest working conditions and rumours of 200 redundancies.

• Tuesday, July 3rd 2012 - 22:57 UTC

  “A coup against Mercosur” claims leading Brazilian newspaper

  

  Brazil’s conservative but influential daily O Estado de Sao Paulo dedicated the main Tuesday editorial to the Mercosur suspension of Paraguay and the entrance of Venezuela arguing that what happened at the group’s summit in Mendoza was “a coup against” the block.

• Tuesday, July 3rd 2012 - 18:32 UTC

  Astori describes Mercosur latest decisions as “aggression and major institutional blows”

  

  “It’s a major institutional blow, maybe the most serious in the 21 years of Mercosur” said Uruguayan Vice president Danilo Astori in direct reference to the group’s decision to incorporate Venezuela with the approval of Argentina, Brazil and Uruguay and the absence of Paraguay.

• Tuesday, July 3rd 2012 - 06:31 UTC

  Argentina and Brazil deny Uruguay and insist the decision on Venezuela was unanimous

  

  Argentina underlined late Monday that the decision on the incorporation of Venezuela as full member of Mercosur was “unanimously” supported by the presidents from Argentina, Brazil and Uruguay during the group’s summit last Friday hosted by President Cristina Fernandez.

• Tuesday, July 3rd 2012 - 06:24 UTC

  Uruguay says it accepted Venezuela in Mercosur as part of a major negotiation

  

  The Uruguayan government said that it accepted the incorporation of Venezuela as full member of Mercosur as part of a “negotiation” in which it demanded no economic sanctions on Paraguay and that is why “the last word has not been said” on the issue.

• Tuesday, July 3rd 2012 - 06:14 UTC

  Brazilian opposition blasts Rousseff for the management of Paraguayan situation

  

  The leading member from Brazil’s main opposition political party described Uruguay’s claim that consensus was absent in the Mercosur decision to suspend Paraguay and to incorporate Venezuela as “extremely serious” and complained Mercosur has become a merely “ideological” grouping.

• Tuesday, July 3rd 2012 - 00:55 UTC

  Brazil and Argentina to benefit most from Venezuela’s Mercosur incorporation

  

  The formal incorporation of Venezuela to Mercosur next July will benefit mainly Brazil and Argentina since they could considerably increase their exports to the oil-rich country at the expense of the local production sector weakened by the economic policies from the administration of President Hugo Chavez, according to analysts.

• Monday, July 2nd 2012 - 23:42 UTC

  Uruguay says it was Brazil that forced the incorporation to Mercosur of Venezuela

  

  The Uruguayan government revealed on Monday its disagreement with the way Venezuela’s incorporation to Mercosur was decided last Friday at the summit held in Mendoza, Argentina, and said “it was not the last word” since the process must be reviewed from a juridical point of view.