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Congress Bailouts

  • *Greece estimates it at 3.5 pct, higher than 0.5 pct target. BRUSSELS, March 24- Euro zone lenders estimate Greece had a primary surplus between 2 and 3 percent of its gross domestic product last year, much higher than the target set under its bailout programme and more than previously forecast, an EU official told Reuters on Friday. Under Greece's 86 billion euro...

  • The size of Greece's primary surplus- the budget balance before debt-servicing costs- is a source of contention between euro zone governments and the International Monetary Fund, which believes the surplus in 2016 was only 0.9 percent. Under Greece's 86 billion euro bailout programme, the third since 2010, Athens was supposed to reach a primary surplus of 0.5...

  • *Daewoo bankruptcy would hit S.Korea economy by 48.4 trillion won economic damage-regulator. SEOUL, March 23- State banks will extend South Korea's foundering Daewoo Shipbuilding& Marine Engineering Co Ltd a new 2.9 trillion won bailout, but only if bondholders and other creditors agree to swingeing debt-equity swaps, the country's financial regulator...

  • Prime Minister Antonio Costa described Dijsselbloem's remarks as "racist, xenophobic and sexist" and said Europe would lose credibility if the Dutchman did not step down. The spat has reawakened simmering anger in southern Europe over the harsh austerity some of their countries went through under bailouts during the euro zone debt crisis, pitting creditor...

  • ROME/ BRUSSELS, March 22- Italy's plans to bail out two regional banks pose a dilemma for European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Italy is already seeking to use the scheme for its fourth biggest bank, Monte dei Paschi, where the state is expected to inject...

  • Prime Minister Antonio Costa described Jeroen Dijsselbloem's remarks as "racist, xenophobic and sexist" and said Europe would lose credibility if the Dutchman did not step down. The spat has reawakened simmering anger in southern Europe over the harsh austerity some of their countries went through under bailouts during the euro zone debt crisis, pitting...

  • Prime Minister Antonio Costa described Jeroen Dijsselbloem's remarks as "racist, xenophobic and sexist" and said Europe would lose credibility if the Dutchman did not step down. The spat has reawakened simmering anger in southern Europe over the harsh austerity some of their countries went through under bailouts during the euro zone debt crisis, pitting...

  • ATHENS, March 22- Greece said on Wednesday it hopes for a deal with its international lenders within the month of April and is working to bridge differences on labour, pension and energy reforms. The onus for an agreement was not only on the Greek government, but on its European Union and International Monetary Fund lenders too, government spokesman Dimitris...

  • ROME/ BRUSSELS, March 22- Italy's plans to bail out two regional banks pose a dilemma for European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Italy is already seeking to use the scheme for its fourth biggest bank, Monte dei Paschi, where the state is expected to inject...

  • ROME/ BRUSSELS, March 22- Italy's plans to bail out two regional banks pose a tough dilemma to European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Italy is already seeking to use the scheme for its fourth biggest bank Monte dei Paschi, where the state is expected to...

  • *Talks over settlement with hold-out shareholder group. LONDON, March 17- Lawyers representing tens of thousands of Royal Bank of Scotland shareholders have held tentative talks to settle a 1.2 billion pound damages claim over the lender's 2008 rights issue that was launched shortly before a state bailout, two sources said. One of the investors backing those...

  • *Talks over settlement with hold-out shareholder group. LONDON, March 17- Lawyers representing tens of thousands of Royal Bank of Scotland shareholders have held tentative talks to settle a 1.2 billion pound damages claim over the lender's 2008 rights issue that was launched shortly before a state bailout, two sources said. One of the investors backing those...

  • By Andrew MacAskill and Kirstin Ridley. LONDON, March 17- Lawyers representing tens of thousands of Royal Bank of Scotland shareholders have held tentative talks to settle a 1.2 billion pound damages claim over the lender's 2008 rights issue that was launched shortly before a state bailout, two sources said. It would also spare RBS, which is still more than 70...

  • MADRID, March 15- Spain gave the green light to merger talks between Bankia and Banco Mare Nostrum on Wednesday as it seeks to claw back public money used to rescue the banks in 2012.. Both banks said they would look at the merger proposal by Spain's FROB bailout fund, while a source familiar with the situation said their boards would approve the tie-up in May and...

  • MILAN, March 9- Struggling Italian bank Monte dei Paschi di Siena has approved a long-awaited preliminary restructuring plan that must now be cleared by European authorities for the lender to be granted a state bailout. The European Central Bank has since put the capital shortfall that the lender must fill at 8.8 billion euros, and the Italian government is...

  • BRUSSELS, March 9- Greece and its international creditors made progress on talks to disburse new loans to Athens under a bailout programme but new meetings are necessary next week to reach a deal, the euro zone bailout fund said on Thursday. "Important progress has been made on a balanced fiscal package for the post-programme period and a number of key reforms,...

  • Feb 23- Insurance giant American International Group sees "considerable uncertainty" about U.S. regulations that deem non-bank financial institutions as being too big to fail, given the recent change in White House administrations, according to a filing. AIG's near-collapse in 2008 and its $182 billion bailout by the U.S. government led to its inclusion in the...

  • NEW DELHI, Feb 22- The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system. Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs...

  • NEW DELHI, Feb 22- The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system. Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs...

  • EU ministers meet in Brussels

    CNBC's Nancy Hungerford reports creditors agree to resume bailout talks with Greece, and EU finance chiefs shrug off France election fears.