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Congress Bailouts

  • : Banor Capital

    Francesco Castelli, portfolio manager at Banor Capital, speaks about the Italian government's decision to intervene to save two ailing Venetian banks.

  • LAGONISSI, Greece— Greece is on target to tap bond markets for money again by the end of this year and exit its bailout program next summer, European creditors said Wednesday. "Greece is entering the final year of the program with a real opportunity to regain market access and actually end the program on schedule in August next year," Declan Costello, the EU...

  • MILAN, June 27- Monte dei Paschi di Siena is close to reaching a final deal with an Italian bank bailout fund on the sale of its bad loan portfolio, a key plank of its rescue plan, three sources close to the matter said on Tuesday. An accord would be the latest step in a long-running process to complete a state rescue of the world's oldest bank which is Italy's fourth...

  • *Italy set to rescue Monte dei Paschi, liquidate two ailing banks. MILAN, June 27- One of the first things Andrea Ricci did when he was promoted to head the new problem loan division at Italy's Banca Nazionale del Lavoro this year was to launch a recruitment campaign. Instead of the lawyers that have traditionally dominated loan recovery, Ricci hired as his No.2 a...

  • *Bailout opens rift between Germany and Italy. As lawmakers digested details of the rescue, which involves the state rather than investors bearing most of the cost, many criticised Rome for breaking with the spirit of a framework known as banking union-- and the European Commission in Brussels for allowing it do so. Under a deal sealed over the weekend, Italy will...

  • *Bailout opens rift between Germany and Italy. As lawmakers digested details of the rescue, which involves the state rather than investors bearing most of the cost, many criticised Rome for breaking with the spirit of a framework known as banking union-- and the European Commission in Brussels for allowing it do so. Under a deal sealed over the weekend, Italy will...

  • The European Commission ended months of speculation over whether Italy would be able to bypass regulations preventing state bailouts of banks by granting approval for the deal. On Sunday, Italy began winding up two failed regional banks in a deal that could cost the state up to 17 billion euros. The rescue will see the lenders' good assets go to Italy's biggest...

  • FRANKFURT, Germany— After expensive bailouts played a major role in their debt crisis, European authorities agreed on tough new rules to ensure that taxpayers didn't have to pour money into shaky banks. So why is the heavily indebted Italian government pumping 5 billion euros into two failed banks that most people outside Italy have never heard of?

  • Italian banking sector not as bad sa Brussels politicans will have you believe

    Marco Elser, head portfolio manager at Lonsin Capital, says that the Italian government's deal on two ailing Venetian banks was a "template of how restructuring should be done."

  • *Italy- Germany bond yield spread comes off recent narrow levels. LONDON, June 26- Italian government bond yields rose on Monday after the European Commission approved the rescue of assets of two struggling Veneto banks, ending months of speculation over whether Italy would be able to bypass regulations preventing state bailouts of banks.

  • June 23- U.S. ratings agency Moody's Investors Service upgraded Greece's long-term issuer rating to' Caa2' from' Caa3' following the extension of a credit lifeline to the country by euro zone governments. The euro zone government had given Greece another 11th- hour credit lifeline worth 8.5 billion euros, last week. The International Monetary Fund Managing...

  • June 22- It took less than 24 hours for Warren Buffett, one of the world's savviest dealmakers, to make a C $360 million paper profit by propping up a major Canadian lender on life support. Home Capital joined Bank of America Corp, General Electric Co, Goldman Sachs Group Inc and other companies that have welcomed Buffett's largesse, accepting a C $2 billion credit...

  • ATHENS, Greece— Greece's prime minister said Wednesday that his bailout-reliant country will "very soon" be in a position to tap bond markets again, which would be Greece's first test of investor sentiment since 2014.. Alexis Tsipras told his cabinet that this was a result of last week's deal with European creditors, which eased fears Greece might face another...

  • JOHANNESBURG— South Africa's economy, which is in a recession, on Tuesday faced fresh uncertainty over a demand by the state watchdog agency for changes in the way the central bank is run, in escalating fallout from a bank bailout during the apartheid era. The South African rand weakened Monday after Public Protector Busisiwe Mkhwebane called for a...

  • LONDON— British regulators charged Barclays bank and four former executives, including then-CEO John Varley, with conspiracy to commit fraud when they asked Qatar for a cash infusion to avoid a government bailout at the height of the financial crisis in 2008.. The probe centered on two side agreements under which Barclays paid the Qatari investors 322...

  • MILAN, June 16- Investment funds Fortress and Elliott have dropped out of talks to buy Monte dei Paschi di Siena's bad loans, three sources said on Friday, dealing a blow to plans to secure a state bailout for the ailing Italian bank. Fortress and Elliott, together with Italian banking industry bailout fund Atlante, were negotiating to buy bad loans with a total face...

  • Euro zone governments threw indebted Greece another credit lifeline worth 8.5 billion euros on Thursday, offered further clarity on a roadmap to possible debt relief and the International Monetary Fund said it might join a bailout program after sitting on the fence for two years. A pro-government newspaper, Avgi, called it "The beginning of the end to the Greek...

  • LUXEMBOURG, June 16- European Union finance ministers agreed on Friday on rules setting the order in which bank creditors would be hit in case of wind-downs, in a bid to accelerate the build-up of banks' capital buffers to reduce the chances of public-funded bailouts. The deal, reached at a regular meeting of EU finance ministers in Luxembourg, defines a common EU...

  • LUXEMBOURG, June 16- European Union finance ministers are set to agree on Friday on rules setting the order in which bank creditors would be hit in case of wind-downs, in a bid to accelerate the build-up of banks' capital buffers to reduce the chances of public-funded bailouts. The agreement, likely to be reached in a regular meeting of EU finance ministers in...

  • *Lenders unlock 8.5 bln euros of loans for Greece. *May pave way for Greece to join ECB QE scheme. The spotlight moved back to the euro zone, following a late deal on Thursday that lets indebted Greece avoid a default on bailout repayments due next month.