Congress Bailouts

  • ATHENS, Greece— The European Union's executive commission on Wednesday publicly defended Greece's former statistics chief, who is facing trial over accusations he exaggerated the government's 2009 deficit, which led to years of bailouts and economic misery. Former director Andreas Georgiou headed the reorganization of the Greek statistics agency from...

  • *Former boss Fred Goodwin may be called as defense witness. The meeting at The Grove, an 18- century estate near London that served as the secret World War Two HQ for Britain's biggest railway company, was convened to persuade investors to drop claims they were misled into stumping up 12 billion pounds just a few months before the bank's bailout in 2008..

  • *Former boss Fred Goodwin may be called as defense witness. The meeting at The Grove, an 18- century estate near London that served as the secret World War Two HQ for Britain's biggest railway company, was convened to persuade investors to drop claims they were misled into stumping up 12 billion pounds just a few months before the bank's bailout in 2008..

  • NEW YORK, Aug 19- Investors questioning whether record high U.S. stock prices mean it is time to bail out of equities should look beyond the elevated levels found in the widely used valuation tool, the price-to-earnings ratio, experts say. The benchmark S&P 500 stock index hovers just underneath an all-time peak, and its P/E ratio has recently been at the highest...

  • UBS says China started bailing out banks

    Analysts at the firm say the country has made progress in recognizing and dealing with its debt problems.

  • *CEO in spotlight after expenses allegations in UK press. Britain's vote to leave the European Union in June and the Bank of England base rate cut that followed has put Lloyds' ambitious profit and dividend targets under strain, and cast fresh doubts about when the government might be able to recoup the last of the taxpayer cash used in its 2008 bailout.

  • LONDON, Aug 4- In early October 2008, then Business Minister Shriti Vadera called a secret meeting of bankers and government officials on the top floor of Standard Chartered's City of London headquarters to address Britain's biggest peacetime crisis. The collapse of Lehman Brothers two weeks earlier- the biggest bankruptcy in history- had caused UK credit...

  • MILAN, July 31- With the ink barely dry on its bailout plan, Italian bank Monte dei Paschi di Siena faces a Herculean task convincing investors to back a third recapitalisation in as many years and avert a banking crisis that would send shockwaves across Europe. A financial crisis in the euro zone's third-biggest economy would also risk creating contagion...

  • *European Central Bank approves bailout plan- sources. MILAN/ SIENA, July 29- The European Central Bank has approved a privately funded rescue of Italy's third-largest lender, Monte dei Paschi di Siena, three sources said on Friday, staving off the risk that regulators would be forced to wind up its business. Under the bailout plan to be unveiled later in the day,...

  • MILAN, July 28- Italy's third-biggest lender, Monte dei Paschi di Siena, has received a last-minute rescue proposal by Swiss bank UBS, just hours before it is due to unveil its own bailout plan to meet regulators' concerns over its stability. The bank said in a statement on Thursday night it had received two letters from UBS and former Italian Industry Minister...

  • The IMF also did not make a serious attempt to quantify the risk of financial contagion throughout Europe that was used to justify its granting of "exceptional access" funding to Greece when the country's debt was widely viewed internally as not having a high likelihood of repayment. The 30 billion-euro IMF program for Greece needed renegotiation in 2012, and...

  • ROME/ MILAN, July 25- Specialist Italian pension funds will consider a government request to pour money into a bank bailout fund at a meeting on Monday, days before European stress tests are expected to show the country's third-largest lender is in need of urgent capital. Monte dei Paschi, Italy's third-biggest bank by assets, is likely to be found short of capital...

  • *Rome wants to shield small savers, investors. *Commission says ruling has no impact on talks with Rome. LUXEMBOURG, July 19- The European Union's top court ruled on Tuesday that junior creditors and investors need not necessarily suffer losses before a bank is rescued, a judgment that could affect Italy's plans to bail out its banks.

  • *Ruling comes as Italy seeks to rescue its banks. *Rome wants to shield small savers, investors. LUXEMBOURG, July 19- The European Union's top court ruled on Tuesday that junior creditors and investors need not necessarily suffer losses before a bank is rescued, a judgment that may work in Italy's favor as it seeks to bail out its banks.

  • That points to a slight softening in tone over efforts to defuse an unfolding banking crisis in Italy, although Berlin still flatly rejects a push by Rome to protect all investors, big and small, from any fallout. "We are not going to be' Taliban' on this," said the German government official, adding that there was a broad appreciation of the risks linked to Italy's...

  • WASHINGTON, July 14- The International Monetary Fund's executive board could still be in position to complete its review of Ukraine's $17.5 billion bailout program this month, a key step necessary to release the next loan tranche, a fund spokesman said on Thursday. Rice added that Ukraine's parliament did not need to pass any additional anti-corruption and...

  • Lehman's die was already cast: Kevin Warsh

    Kevin Warsh, Hoover Institution, shares his thoughts on a new paper that claims the Fed could have saved Lehman Brothers during the financial crisis.

  • Greece imposed capital controls a year ago to stem a flight of deposits from Greeks spooked at the ramifications of a financial crisis that almost cost the country its position in the euro zone. Greece held out negotiating its third international bailout in a tense standoff with creditors last year, which included Athens calling a referendum on further...

  • Thursday's incident is symptomatic of fierce workers' resistance to privatizations in Greece, which have frequently been put on the back burner because of staff objections or government reluctance. They are however a key element of a third international bailout Greece signed up to last summer, worth up to 86 billion euros. Under bailout terms, Greece is...

  • WASHINGTON, June 29- U.S. Senate Republican leader Mitch McConnell, speaking as lawmakers prepared to vote on a bill to address Puerto Rico's financial crisis, warned on Wednesday that failure to pass the legislation by Friday could lead to a taxpayer funded bailout. "This is the best and possibly the only action we can take to help Puerto Rico," McConnell said on the...