Archive for October 22nd, 2008

Argentine pension plan has local, global impact (Reuters)

Argentina's President Cristina Fernandez de Kirchner speaks at the National Social Security Administration in Buenos Aires, October 21, 2008. Fernandez de Kirchner signed on Tuesday a bill for a government takeover of the $30 billion private pension system in a daring and unexpected move that rocked markets. (Marcos Brindicci/Reuters)Reuters - Argentina's surprise plan to nationalize its private pension system caused chaos on local markets on Wednesday and raised fears about a debt default, sending a ripple effect of fear about emerging-market investments into European stocks and Asian bonds.


Reuters

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Financial crisis divides EU on greenhouse gas cuts (AP)

French President Nicolas Sarkozy speaks during a media conference after an EU summit in Brussels, Wednesday Oct. 15, 2008. Efforts to calm the impact of the global financial crisis will top the agenda at a two-day EU leaders summit along with talks on how the 27-nation bloc can keep on track ambitious promises to cut greenhouse gas emissions by 20 percent by 2020. (AP Photo/Michel Euler)AP - What price clean air, sparkling streams, stately chestnut trees along busy avenues? In some ways it depends on whether you are a citizen of Old or New Europe.


AP

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  • Wall Street slides on economic, profit worry (Reuters)